Admirals Group Lowers Operating Expenses by 9% and Improves Net Loss in H1
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Admirals Group AS reported that during the first part of 2024, it saw a rise in trading revenue and a positive profit, despite the calm market. Its trading income increased by 4% to EUR 22.0 million, compared to EUR 21.1 million in the first half of last year.
The group announced that its expenses dropped by 9%, a total of €22.9 million, down from €25.2 million the last year. Its EBITDA was €400,000, improving from a loss of €2.9 million in the same period last year. The group also shared that its net loss narrowed to €1.2 million, better than €4.8 million the previous year.
Admirals Has Unveiled A Research Tool For MetaTrader 4 And MetaTrader 5
According to the update, Admirals has introduced a research tool for MetaTrader 5 and MetaTrader 4. The group said this tool uses artificial intelligence to provide market insights. This makes it easier for traders to make smart decisions.
The research tool has features like a corporate calendar, NewsIQ, an economic calendar, and links with Dow Jones. Admirals said it brings together news, data, and insights into one place so traders can stay updated on market changes.
In April 2024, Admirals decided to stop adding new customers for Admirals Europe Ltd. This choice is part of the firm’s effort to follow advice from the Cyprus Securities and Exchange Commission. Admirals said the decision only impacts its business in EU countries.
Admirals Aims To Strengthen Its Reputation As A Compliant Business In The EU
The company is working on changes to meet the required standards. It is partnering with the Cyprus Securities and Exchange Commission to resume its initiative of attracting new clients in the EU. Admirals aims to build its reputation as a compliant business.
According to the update, the UK’s Financial Conduct Authority has warned about a fake company pretending to be Admiral Markets UK Ltd. This fake company, called admrlmrkts.co, is using the real firm’s details to trick people. The regulator points out that this scam uses similar contact information to confuse investors.
Admirals is a FinTech company that offers its services to many regions worldwide. The firm aims to make financial freedom safer, easier, and more available. Its variety of services and tools attract investors at every level. The company’s operations are overseen by local regulators like the Financial Conduct Authority, Estonian Financial Supervision Authority, and Cyprus Securities and Exchange Commission.
Other Admirals regulators include the Australian Securities and Investments Commission, Jordan Securities Commission, the Financial Sector Conduct Authority, and IIROC.
