Reason for this visit

Cyprus purchased Greek national debt non-prudently in 2012. When the Greek national debt management defaulted, the Cyprus banking system suffered heavy losses, exceeding 30% of Cyprus’s GDP, and the country’s domestic debt crisis arose. In response to the crisis, the Cypriot government introduced a terrible solution that was opposed by all people, aggravating the crisis. At the same time, some people in Cyprus discovered that various forex whose prices are in an upward cycle, independent of sovereign currencies, may be able to cope with this crisis, so some funds poured into the small forex market in an attempt to avoid risks and protect themselves. Gradually, Cyprus has become an active country for forex transactions. In order to help investors learn more about the current status of the forex exchanges in Cyprus, the survey team is going to Cyprus for site visits.

Office Building

According to the regulatory information, this time the survey team visited the dealer Forex24 in Cyprus, with specific address at George Court, 1st Floor, Ayios Theodoros, 8035, Paphos, Cyprus.   

On-site visit

The surveyors followed the address on the regulatory information to a Mediterranean-style office building. Forex24's office is located in Paphos, Cyprus, a relatively small city with fewer local dealers than in Limassol.

The office building where Forex24 is located is conveniently located to the east of Paphos. However, the surveyors did not find the logo of the trader outside the office building.

The surveyors contacted the Forex24 employee at the doorbell, who welcomed the surveyors and led them inside the company for an interview. However, the dealer's leadership declined the request for an internal photo shoot.

Further,the surveyors found the company's nameplate in front of the office. Also, there were employees working inside the office. Although it was impossible for surveyors to photograph the interior of Forex24, they confirmed the real existence of the dealer.

Conclusion

The physical address of Forex24, a licensed dealer in Cyprus, was the same as the regulatory address. The transportation of the office was also convenient. Looking around, there were employees working inside the office. Investors can make a choice after comprehensive consideration. 

Disclaimer

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