Admirals, known as Admiral Markets until 2021, is an Estonian broker founded in 2003. It has spent late 2025 and 2026 shrinking its licensing footprint, and for our readers that leaves one entity: Admirals SC Ltd in Seychelles.
Is Admirals regulated?
Admirals’ international website states that Admirals SC Ltd is licensed by the Financial Services Authority of Seychelles as a securities dealer under license SD073, operating under the Admirals brand as a franchisee. Seychelles is tier 3 in our model. The group’s UK and Cyprus companies serve their home markets.
A group in transition
- Admirals stopped onboarding new clients under its Jordan license in late 2025 and isn’t onboarding under its Kenya license; those clients now go to Seychelles.
- Industry press reported that it cancelled its UAE license in late 2025.
- Estonia’s regulator revoked Admiral Markets AS’s investment firm license on 28 April 2026, at the company’s own request.
- It sold its Australian business.
None of these is a sanction, but a broker in the middle of a restructuring is harder to assess, and the move away from Gulf and regional licenses weakens its local fit.
Admirals in your country
- India: Admirals (listed as Admiral Market) is on the Reserve Bank of India’s Alert List.
- Malaysia: the Securities Commission Malaysia has issued a warning against Admiral Markets.
- UAE, Saudi Arabia and Pakistan: no local license; clients deal with the Seychelles company.
Who Admirals suits
Admirals has a long track record and a low USD 25 minimum deposit on its global entity. Until its restructuring settles, traders in our region should expect a Seychelles relationship with limited local support.