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 Cypriot government introduced a terrible solution that was opposed by all the people, aggravating the crisis. At the same time, some people in Cyprus have discovered various foreign currencies that are independent of the sovereign currency and whose prices are in an upward cycle, which might be able to deal 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 let investors truly understand the current situation of foreign exchanges in Cyprus, the survey team is going to Cyprus for on-site inspection.

On-site visit

This time the survey team went to Limassol, the second largest city in Cyprus, to visit the foreign exchange dealer JFD Partners as planned. The survey address is 70 Kyrillou Loukareos STreeTKakos PreMier Tower, 2nd FloorLiMassolLiMassolCYPRUS.

The survey personnel came to the destination according to the address on the regulatory information. The office of JFD Partners is located in the north of the Limassol City Expressway in Cyprus, next to the highway exit, with convenient transportation. There are many shops on the ground floor of the building, and the upper floors are occupied with offices. The LOGO of the trader hangs on the front wall of the building, which is clearly visible.

The survey personnel only found the name of the dealer JFD BANK on the access control system. The survey personnel contacted the receptionist of JFD BANK through the access control system, who said that JFD Partners and JFD BANK belong to a group company, and the former also works here. The receptionist allowed the survey personnel to go upstairs to visit.

The investigators found the trader's office on the second floor, with its water sign hanging at the door. The lady who received the survey staff said that due to the epidemic, the survey staff could not enter the office for internal visits. But she gave a brief introduction of the company. According to her, other subsidiaries of the JFD Group are also based here.

Conclusion

The actual address of the dealer JFD Partners Cyprus licensed company is consistent with the regulatory address, and the office has convenient transportation. Nevertheless, the survey personnel did not enter the company to visit, so the internal situation is unknown. Investors can make a sensible choice after careful consideration.

Disclaimer

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