LegacyFX one month on: Since Leverate shareholders invested in a retail FX brokerage, CEO Mariano Obludzyner details the company’s progress

Noam Stiekema

In late December last year, FinanceFeeds exclusively reported that a newly founded FX brokerage in Cyprus, had been established using Leverate technology and funding from some of the shareholders of Leverate. With CEO Mariano Obludzyner at the helm after a number of years at Leverate as Head of Customer Relations, it is of great interest […]

Mariano-Obludzyner-LegacyFX

In late December last year, FinanceFeeds exclusively reported that a newly founded FX brokerage in Cyprus, had been established using Leverate technology and funding from some of the shareholders of Leverate.

With CEO Mariano Obludzyner at the helm after a number of years at Leverate as Head of Customer Relations, it is of great interest to record the progress that this new company has made so far, especially during its foundational period.

Noam Stiekema sat down with Mr. Obludzyner today, in order to have a candid conversation about the company’s current progress, and its future plans.

It’s been over a month since the launch of LegacyFX, your new website is live, and presumably you are starting to take on new clients as a retail brokerage firm. Tell us a little more about how the past month and launch went.

Beginnings are never easy, they are full of challenges, but we have gotten off to a great start. Having started our business within a regulatory environment through LXLite has allowed us an easy entry to the market. Customers trust our regulation because it is established under the umbrella of Leverate, our tech provider, which is a company with a proven track record.

CEO-Mariano-Obludzyner
LegacyFX CEO Mariano Obludzyner talks about the future of one of the youngest brokerage startups

They also trust our banking relationships and like our spreads. We are providing customers with education, which has proven to be a big plus.

We are telling our customers: “We want you to do well, so we are going to provide you with education and the necessary tools for you to succeed”. We tell our customers we are STP, we give them news updates, market analysis and signals and a welcome package with attractive bonuses, so when we call them, they are happy to hear from us. We are building the trust we need in order to succeed.

Starting a retail brokerage in today’s highly competitive world where there are many existing firms and in which a critical value proposition is vital is not easy. How are you setting yourself apart from all the other retail brokerage firms starting up on a near daily basis?

We are building a business that lasts and I believe in building a brokerage based on trust. The name Legacy is not just a nice sounding name, it is the essence of our values.

We want to establish long term relationships. This is why regulation and strong liquidity for STP is so important. We want our clients to grow with us. We take customers by the hand and guide them, train them.

We say every day to our clients: If you are serious about financial trading we are serious about you! Our programs are built for long term relations from the welcome package through to the top class service and on-going benefits

When we broke the news about Leverate venturing into the retail space, and subsequently conducted an interview with yourself and Leverate VP Marketing Nicc Lewis, we raised the aspect of potential conflict of interest considering that the company is owned and operated by Leverate Financial Services. As discussed in depth your mitigation of any potential conflicts of interest, do you see the close relationship as a positive for retail customers longer term?

As you say, we are owned by the same investors, but we are entirely separate entities, so I see no conflict of interest.

We are a customer of Leverate and the experience for LegacyFX has been immensely positive. We have excellent technology, we are taking advantage of automation through SIRIXActive, we have strong regulation, we have a tech provider who cares about us as a customer and we have gotten great support from our success manager, who sits with us, helps us analyze our numbers and guides us to become better by utilizing the tools Leverate provides to the maximum.

Leverate provides us with technology solutions that are far from “on-the-shelf”. We enjoy a lot of enhancements provided by Leverate’s systems and we are differentiating ourselves through great customer support, so we know we are on the right track and that the sky is the limit when it comes to growth potential. We have a big brother helping us with the right technology, great regulation, compliance and licensing and we are having fun in the process.

Read this next

Digital Assets

Zumo launches B2B ‘Crypto-as-a-Service’ solution for brokers

The new product, Zumo Enterprise, also features an embedded ESG and net zero strategy.

Technology

Top Tools to Add to Your Trading Platform to Delight and Retain Traders

The online trading boom that started during the pandemic-led lockdowns is abating. This is in part due to sustained market volatility which seems to be discouraging new investors. For example, day trading volumes in the US for retail investors declined in the last 2 quarters of 2021.  

Technology

Embedded finance platform Alviere taps Marqeta for branded card issuance in Europe and UK

Alviere has recently raised $70 million to fuel the ongoing expansion across the European region and the United Kingdom.

Retail FX

Overcharts partners with dxFeed for CME Group Market Depth

“More and more traders are using Market Depth while conducting volume analysis. Its primary function is to help traders identify potential support and resistance levels.”

Digital Assets

CoinGecko expands collaboration with CER.live security rating

CoinGecko, one of the earliest crypto data aggregators, has integrated the security score data from the CER.live rating. The trust assessments given to crypto projects will be integrated into their pages on CoinGecko website to draw users’ attention to the importance of security.

Metaverse Gaming NFT

Klaytn taps Parity Technologies to build infrastructure for Klaytn-Substrate

Klaytn has initiated a collaboration with blockchain infrastructure company Parity Technologies to strengthen its tech stack and meet the demands of enterprises looking to harness the crypto technology.

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

<