CySEC announced a list of unauthorised domains today. After going through the list, I have made the discovery that the domain of Admiral Markets is not authorised. Did CySEC made a mistake or is there something going on at Admiral Markets?
14 December, AtoZForex – The online Forex broker Admiral Markets Group AS has several subsidiaries, that offers the trading of Forex and CFDs under the FCA, CySEC or ASIC licenses. Not to mention, some of Admiral Markets Group AS' subsidiaries operate under the Markets in Financial Instruments Directive (MiFID) law. Such as their branch Admiral Markets Cyprus Ltd, which is licensed through CySEC and runs its activities through AdmiralMarkets.com.cy.
The information about the subsidiaries of Admiral Markets Group AS is publicly known. Hence, it came to me as a surprise that today's CySEC circular about the unauthorised brokers included the domain AdmiralMarkets.com.
The domain of Admiral Markets is not authorised?
Following CySEC’s warning against unauthorised domains, I have reached out to AdmiralMarkets.com asking them about their domain being listed in CySEC's list of unauthorized brokers. The Executive Director of Admiral Markets UK, Juri Kartakov commented:
"I am sure it was just a mistake. As far as I know, Admiral Markets Cyprus Ltd administration is already in contact with CySEC regarding this. Meanwhile, Admiral Markets brand is happy to enjoy free publicity!"
Breakdown of Admiral Markets' licenses
When assessing the domain AdmiralMarkets.com, it is clear that the online Forex broker is regulated by the FCA with licence No 595450. The other subsidiary, Admiral Markets Cyprus Ltd holds the CySEC license 201/13. Whereas the Australian branch is operating under the Australian Financial Services Licence (AFSL) number 410681. Summing up the firm's regulated branches, is it plausible that CySEC has made a mistake?
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