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 FXPN (licensee: Limited liability company “Leverate Capital Markets” (LLC “Leverate Capital Markets”)) as planned according to its registered regulatory address that 223050, Minsk Region, Minskaya Street, 69a-2, Office 34.

The survey personnel came to the destination on July 20, 2023, where residential buildings were mainly situated. There were only a few people walking on street at the remote place.

After arrived at the place, the investigators easily spotted 69a, instead of 69a-2, which wasnt displayed on the digital map. According to the staff working in the community at 69a, there was no 69a-2 there and they never heard of the broker named FXPN nearby.

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 FXPN 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.