Estonia-based online trading and investments firm Admiral Markets AS is expanding and opening a subsidiary in Jordan.
June 22, 2021, | AtoZ Markets – Admiral Markets AS, operating with the tradename Admiral Markets, is expanding into the Middle East and North Africa (MENA) markets. The first step in this direction was the opening of a branch in Jordan, which cost the company $3.28 million (or just over €4 million).
In September 2019, the head of Admiral Markets, Sergey Bogatenkov, participated in the official visit of the Estonian business delegation to Jordan. Thanks to the established contacts, the company was able to begin expansion into the local market, which ended on June 6, 2021, with the receipt of a local license.
Estonian forex broker opens a local office in Amman, Jordan with 10 employees. It is currently the first Estonian company to enter the country with long-term plans and the first financial company with European roots.
One of the important arguments in favor of creating a subsidiary was the initiative and interest of Jordan in attracting foreign companies. The country is known for its stable and reliable financial system.
“With 600 million people living in the Middle East and North Africa region, this is a great potential for expanding our client base. In addition, we have everything to give people in this region to experience the joy of life, to try alternative financial products that work successfully in Europe,” said Sergei Bogatenkov.
“Back in 2001, Admiral Markets was a Forex and CFD brokerage company. Today, it symbolizes innovation and a unique user experience in personal finance. Our goal is to offer complete solutions for investment, payment, lending, and money management. In 10 years, we want to give financial freedom to 10 million people. The presence in Jordan is one of the steps towards realizing a long-term vision and positioning the company in new markets,” Bogatenkov added.
“In Jordan, we can use the experience gained in Europe. Although Jordan’s neighbors are not politically stable, the country has managed to avoid conflicts. We compare this country with Switzerland,” Bogatenkov added.
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