Reason for this visit

Russia-Ukraine conflict continues to worsen, while Russia keeps a “close” relationship with Belarus. At present, plenty of forex investors are deeply concerned about the current situation of forex brokers in Belarus for the upgrading of the war is likely to have an adverse effect on Belarus. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange brokers in Belarus, WikiFX survey team is going to pay on-site visits to the local companies.

On-site visit

In this issue, the investigation team went to Minsk, capital and the largest city of Belarus, to visit forex broker LegacyFX (licensee: “AN ALL New Investments BY” LLC) as planned according to its registered regulatory address that 220020, Minsk, Pobediteley Avenue, 89, Building 3, Office 7.

The survey personnel came to the destination on July 20, 2023, where a modern commercial building was situated, with some stores including a cafe on the ground floor, drawing plenty of people. There were a great number of cars parked in front of the buildings entrance.

After entering the building, the investigators found from company directory that there was no related information about forex broker LegacyFX and office 7. According to the staff working in the building, they never heard of the broker, whose phone number turned out to be wrong when the survey personnel tried to contact them.

Through an on-site investigation, it is confirmed that the company doesnt have a physical presence at the location.

Conclusion

The investigators went to Minsk, Belarus to visit forex broker LegacyFX as scheduled, and didn‘t find the company at its regulatory address. It indicates that the broker doesn’t have a physical business office at the place. Therefore, investors are advised to make a sensible choice based on a comprehensive consideration.

Disclaimer

The content is used for informational purpose only, and shall not be taken as a final order for making a choice.