LegacyFX Forex Brokerage Suspends Operations as Shareholders Reconsider
- The shareholders of Leverate which financed the brokerage have reconsidered their stance regarding their own brokerage.
Speaking to Finance Magnates, the CEO of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs brokerage LegacyFX, Mariano Obludzyner, confirmed that the brokerage’s operations have been suspended as of today. The company was established back in December 2015 with the support of Leverate’s shareholders.
The firm was to be operating independently from its technology provider and was to provide diversification of revenue streams for the owners of shares in both companies.
The shareholders of Leverate have reconsidered their decision to run an FX brokerage using the proprietary technology developed by the forex and CFDs trading technology firm after the unveiling of the project some months ago.
While the firm would have been a great way to test the technology provider’s services on a smaller scale before launching to other clients, the conflicts of interest which could prospectively arise from the operations could have been the main reason behind the shutdown of the project.
In a saturated marketplace, Leverate has chosen to remain focused on its technology business, and remain committed to the firm’s existing clients.
A number of past occurrences in the industry could have gotten clients worried. Some technology providers for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and binary options software have been rumored to be running their own brokerages, taking unfair advantage of the data of their clients. To date no such violations have been proven.
Speaking to Finance Magnates, the CEO of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs brokerage LegacyFX, Mariano Obludzyner, confirmed that the brokerage’s operations have been suspended as of today. The company was established back in December 2015 with the support of Leverate’s shareholders.
The firm was to be operating independently from its technology provider and was to provide diversification of revenue streams for the owners of shares in both companies.
The shareholders of Leverate have reconsidered their decision to run an FX brokerage using the proprietary technology developed by the forex and CFDs trading technology firm after the unveiling of the project some months ago.
While the firm would have been a great way to test the technology provider’s services on a smaller scale before launching to other clients, the conflicts of interest which could prospectively arise from the operations could have been the main reason behind the shutdown of the project.
In a saturated marketplace, Leverate has chosen to remain focused on its technology business, and remain committed to the firm’s existing clients.
A number of past occurrences in the industry could have gotten clients worried. Some technology providers for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and binary options software have been rumored to be running their own brokerages, taking unfair advantage of the data of their clients. To date no such violations have been proven.