Forex and CFD brokerage Admiral Markets has opened a subsidiary in Jordan to expand and support its customer base in the Middle East and North Africa (MENA) regions.
Estonia-based Admiral Markets has announced the launch of the Jordan subsidiary as part of its mission to expand in the Middle East and North Africa (MENA) region. The CySEC regulated broker required more than €4 million to be able to expand in Jordan. Not only that, but Admiral Markets also added 10 employees to be responsible for the Jordan office which will be located in Amman.
Admiral Markets CEO, Sergei Bogatenkov said that he chose the Middle East and North Africa region because of its large population of up to 600 million people, which has high potential to help expand Admiral Markets' customer base.
In addition, this large market share can get the opportunity to access alternative financial products that have successfully attracted the interest of the European community in recent years. Sergei did not forget to praise the faster development of the IT industry in the MENA region.
Under JSC Regulation
The agreement was reportedly completed on June 6 this year, when Admiral Markets obtained a license from Jordanian authorities to operate in Amman, making it the first Estonian company to do business in Jordan.
The Jordanian Securities Commission maintains the standards of transparency, responsiveness, and security assurance of influential financial companies, which have the ability to adapt to market variables and offer access to attractive trades and investments.
Under a Jordanian regulation called the Jordanian Securities Commission (JSC), Admiral Markets can offer a minimum deposit of 25 USD/EUR/JOD when opening a live account, cashback, Negative Balance Protection Policy up to USD 50,000, and other features.