Leverate Sells Legacy FX, New Owner Allnew Investments Acquires CySEC License

Leverate has successfully offloaded the brokerage brand which it briefly set up at the end of 2015 before shutting it down in mid-2016. Allnew Investments purchased the company from the technology provider back in 2016 and has been patiently awaiting Cyprus Securities and Exchange Commission (CySEC) authorization before relaunching the brand.

The Cypriot regulator has become much more rigorous when processing new applications from retail brokers over the past year. The ESMA’s pressure on CySEC to get its house in order has materially impacted the approval process for new firms, such as A.N. Allnew Investments.

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The majority shareholder of the firm, Jad Abdelrahman, has vast experience in the online marketing space. According to his LinkedIn profile, he was the business development executive at XForex, Internovus, and Bforex.

The Brokerage Aims at the EU Market

The new company of Legacy FX is aiming to provide forex and CFDs to European clients. The competitive marketplace will be initially addressed with an offering consisting of a partnership with Leverate and its SIRIX Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.

Commenting to Finance Magnates, the Executive Manager of Legacy FX and Allnew Investment Management, Michael Floros, shared that CySEC was very rigorous during the process of granting the company an operating license.

“The approval process took quite a while because of various additional requirements on part of the regulator. I think that the new regulatory stance on part of the CySEC, in the end, going to be good for the market,” Floros elaborated.

The company is already working on deploying more options for its future clients. Floros shared with Finance Magnates that the brokerage is preparing to launch MT4 and MT5 solutions via a Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term partnership with Swissquote.