After a challenging year, Admiral Markets manages to end 2020 with a 340% profit jump from 4.6 million to 20.3 million.
Estonia-based broker, Admiral Markets, recently released their financial report data for 2020 with surprising results. As a broker who is being authorized by the tier-1 regulators, Admiral Markets managed to reap a profit of 340%, from €4.6 million in 2019 to €20.3 million in 2020.
Admiral Markets Ends 2020 On A High Record
As a well-regulated Forex and CFD brokerage, they published its unaudited financials for 2020, showing significant jumps across all performance metrics. The net profit of Admiral Markets went up from €4.6 million in 2019 to €20.3 million in 2020.
Despite 2020 being the year of high volatility, the entire brokerage industry has seen a lot of growth and high records. Admiral Markets was no exception, as they saw high-volume trading of €998 billion, increasing 68% than the previous year. For the whole year, there were 66.9 million trades executed on the platform, a 110% increase compared to 31.8 million during the same period in 2019.
The trading income of the brokerage platform doubled in the year, reaching €47.1 million from the previous year’s 23.2 million. EBITDA spiked to €21.6 million from €5.8 million with a margin of 46 percent.
Sergei Bogatenkov, Admiral Markets’ Chairman also agreed that 2020 is one of the most profitable years in broker’s history. Their impressive growth was accompanied by the launch of new regions, which have brought them significantly closer to the broker’s long-term goals. After this impressive record, the Estonian broker is now also aiming high to onboard 10 million clients by the end of 2030.