LeapRate Exclusive… LeapRate has learned that a new CySEC CIF license has been granted to a company called A.N. Allnew Investments Ltd, controlled by former XForex executive Jad Abdel Rahman. Under the new license, the company has launched a new Retail FX brand called LegacyFX, at websites legacyfx.com and for EU based clients at legacyfx.eu.
The LegacyFX brand, however, is not really brand new.
About two years ago FX platform provider Leverate launched LegacyFX as its own Retail FX brand, with financial backing from individual Leverate shareholders. The company (of course) employed Leverate’s Sirix trading platform, and was run by former Leverate Head of Customer Relations Mariano Obludzyner, who left his position at the company to run LegacyFX with a small ownership stake in the company.
The operation did not last long after shareholders decided to pull back on funding the company’s marketing budget after less than six months. Mr. Obludzyner left to become VP Sales and Business Development at trading technology provider cPattern. He is now with customer behaviour analysis company Clicktale.
But back to the new version of LegacyFX…. Much like its predecessor, the new LegacyFX is offering Leverate’s Sirix trading platforms (desktop, webtrader, mobile), as well as MetaQuote’s MT4.
LegacyFX is using Swissquote Group Holding SA (SWX:SQN) as its FX liquidity provider.
We understand that the ‘new’ LegacyFX was established by longtime clients of Leverate including Mr. Abdel Rahman, who decided that they wanted to operate a licensed brand and thus negotiated the rights to acquire the LegacyFX name, brand, and website url, and received their own separate CIF license for the A.N. Allnew company. The license to A.N. Allnew was formally granted by CySEC on November 27.