Reason for this visit

Cyprus imprudently purchased Greek government bonds in 2012. When the Greek government bond management defaulted, the Cyprus banking system suffered heavy losses exceeding 30% of the annual GDP of Cyprus, and the country's domestic debt crisis occurred. In response to the crisis, the Cyprus government introduced a terrible solution that was opposed by all the people, which aggravated the crisis. At the same time, some people in Cyprus discovered that having an upward trend in price, various foreign currencies that were independent of the sovereign currency might be able to cope with this crisis. As a result, people poured funds into the small foreign exchange market in an attempt to hedge and protect themselves. For various reasons, Cyprus has gradually become a country with active foreign exchange transactions. In order to help investors better understand the current situation of foreign exchange brokers in Cyprus, WikiFX survey team is going to the country for on-site visits to the local companies.

On-site visit

In this issue, the survey team went to the second largest city Limassol in Cyprus to visit forex broker FxView as planned according to its regulatory address that 28th October Street, Kanika Business Center, Office 201B, 3105, Limassol, Cyprus.

On July 23, 2023, the investigators came to 28th October Street in Limassol, Cyprus, and located Kanika Business Center in an excellent seafront position with quick and easy access to the towns main road network and the highway.

After arriving at the building, the survey personnel spotted an outdoor directory at the entrance, which displays that FxView is situated on the 2nd floor. However, people werent permitted to enter the building without an access card due to stringent security reasons.

Through an on-site investigation, it is confirmed that the company has a physical presence at the place.

Conclusion

The survey team went to Limassol, Cyprus to visit forex broker FxView as scheduled, and found the companys name at its regulatory address. This indicates that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible decision based on an overall consideration.

Disclaimer

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