Reasons for Field Survey

The Belarusian foreign exchange market is a vital component of Eastern Europe's financial landscape. Leveraging its solid industrial foundation in machinery manufacturing and chemicals, as well as its close economic and trade ties with neighboring countries, the country's foreign exchange trading business has steadily grown, attracting both international traders and local institutions. To help investors gain a thorough understanding of the true operational status of local forex brokers, a field research team conducted a special visit to Belarus.

Field Survey Process

This inspection team traveled to Belarus as planned, visiting the publicly listed office address of LegacyFX (220020, Minsk, Pobediteley Ave. 89, Building 3, Office 7) to verify the authenticity of the broker's business location and its consistency with its declared information.

The inspection team arrived at Building 3, 89 Victory Street, Minsk, and successfully photographed the entire building.

Upon entering the building lobby, they were granted permission to remain without further negotiation. However, a careful examination of all company signs in the lobby revealed no trace of LegacyFX's presence. Furthermore, no trace of the broker's logo was observed throughout the building, both exterior and interior. There was no clear corporate campus in the surrounding area, and the streetscape lacked the necessary amenities to support an office.

Subsequent attempts to reach the targeted floor and confirm the location of Office 7 were denied access, preventing them from reaching the designated floor and room. They were unable to enter the building, photograph the reception desk or its logo, and were unable to gain access to the office's interior. Considering the lack of a logo, signage, and unconfirmed office location, it's clear that the publicly listed business address doesn't match the information on the inspection form.

Therefore, the inspection confirmed that the broker, LegacyFX, does not exist at the aforementioned address.

Field Survey Summary

The surveyors visited the LegacyFX as planned. They could not find the broker's company name and other information at its publicly displayed business place, indicating that the broker does not have a real business location. Investors are advised to consider this information comprehensively before making decisions.

Field Survey Disclaimer

The above content and opinions are for reference only and should not serve as a basis for any final decision.