Admiral Markets has a reason to celebrate. It is now officially authorized by the British Financial Conduct Authority (FCA). This is yet another step towards recognition and online reputation for the broker.
Below is the official press release on UK authorization:
Exercising integrity, skill and diligence, maintaining proper financial resources and ensuring adequate protection for clients’ assets – those are only some of the many strict requirements the international broker Admiral Markets met to be authorized by the United Kingdom’s highest authority in financial markets, the Financial Conduct Authority FCA (previously FSA). Admiral Markets UK Ltd, the latest addition to the Admiral Markets Group, just received its regulation in the UK. “As a top-level broker, we advocate the regulation of foreign exchange markets everywhere”, says Admiral Markets’ Vice-President, Dmitri Laush. “After entities within the Admiral Markets Group have obtained licenses by the EU, the Australian authorities and the Uruguayan central bank, getting regulations from the renowned British FCA was the next logical step for us.”
Admiral Markets UK Ltd will offer its services to customers based in the United Kingdom and Western Europe, operating from the London office. “An additional regulated firm in Europe provides even more investor protection and trading opportunities to our clients”, says the new entity’s CEO, Elina Pedersen. “The FCA authorisation is one of the hardest to obtain worldwide for any broker. Admiral Markets has always been following high-level rules of fund segregation, financial security and customer care. Receiving the UK regulation is the acknowledgement of our efforts and proof of our success.”
The first clients will be accepted by the London office starting July 1, 2013. Customers from Western Europe who are already trading with Admiral Markets’ European regulated entity Admiral Markets AS can then open an account with Admiral Markets UK Ltd as well. “Those traders can keep an account with both firms, or pick the regulated entity of their choice”, Pedersen explains. Funds can be transferred internally. All clients under the new Admiral Markets UK Ltd will enjoy the full advantages of an FCA regulated company, like funds segregation, financial security and compensation schemes and grievance redress mechanisms.