Admiral Markets UK Turns a Profit, Client Deposits up to £1.66 Mln

The UK operation of Admiral Markets has gained traction in 2014, a filing with the United Kingdom’s Companies House shows. The broker regulated by the Financial Conduct Authority has marked a substantial increase in turnover which led to a profitable year with customer deposits rising to £1.66 million ($2.6 million).

For the twelve months ending on December 31st, 2014, the company generated a turnover of £463,828 ($725,000), which compares to £42,404 ($66,000) for 2013. The operating profit was £11,088 ($17,000), which is the first positive result, moving Admiral Markets UK into the black.

The UK regulated subsidiary of Estonia incorporated Admiral Markets AS is an effort to diversify the broker’s business at a time when the regulatory credibility of the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) remains the most sought after due to its international reputation.

That said, the Alpari UK bankruptcy and the somewhat controversial proceedings of Boston Technologies in the aftermath of the Swiss National Bank disaster have been weighing on the credibility of the UK regulator, according to some industry insiders.

Looking at the UK operations of Admiral Markets, the broker’s business remains small yet that is likely to change in the coming year as the firm has made a strategic decision to consolidate its retail offering.

The key performance metrics for the company have turned positive with the net profit margin coming in at 0.97 percent, while the return on investment was 0.2 percent. While being a long way from making substantial amounts of profits the figures are in stark contrast to the metrics a year ago.

In 2013, Admiral Markets UK registered a negative 128 percent in net profit margin and -28 percent return on investment. As of December 31st, 2014, the firm’s cash position totaled £207,673 ($324,732) which is 53 percent higher than a year ago.

Admiral Markets AS has concentrated its efforts to switch all of its retail business to its UK subsidiary in the fall of 2014.

According to the company’s CEO, Dmirty Laush, the background for the move was to consolidate the business of Admiral Markets into a single European subsidiary while providing the oversight of the most trustworthy regulator on the continent.

All European and Estonian clients of Admiral Markets were informed by the company that they could transfer their accounts to the UK entity in September last year.