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Admiral Markets Won’t Leave Polish Markets

Multi-regulated forex and CFD broker firm Admiral Markets denied reports about exiting the Polish market. However, it confirmed plans for closing down its subsidiary within the country.

The affiliation of its branch in Poland will switch from the Estonian branch Admiral Markets AS Oddzial w Polsce. Then, Its CySEC-regulated subsidiary Admiral Markets Cyprus Ltd will absorb the arm.

Polish clients will get an Experienced Customer status, according to the broker. The status is a unique categorization from the Polish Financial Supervision Authority.

Moreover, the Estonian regulator allows the firm to use its newly acquired Cypriot license to promote them into the status.

By replacing Polish clients’ statuses from retail to experienced, they will continue to receive the highest quality of services.

Admiral Markets plans to stop activities of its Polish branch by the end of May of this year with an eight-year reign. It will continue serving existing and new customers on a cross-border basis.

The firm had three active branches in Romania, Poland, and the Czech Republic. Both Romania and the Czech Republic closed down two years ago with a similar strategy.

ESMA in Poland

Poland denied ESMA’s new Experienced regulations last year, which were designed for clients who can prove their financial trading experience. The KNF justified the lower margin for some customers who can get acquainted with the necessary conditions.

To get reclassified into the status, customers should make use of 100:1 leverage. ESMA’s restriction was effective for clients who wanted better leverage, although it did come with side effects.

The watchdog’s efforts were to protect traders, not to push businesses offshore. However, some investors flew offshore to continue making risky bets with higher leverage.

XTB is the first company to publish an experienced trader section on its website. Its portal lists all of the requirements needed for the qualifications needed to classify as such.

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