Purpose

The Cyprus forex market has developed into a market with a certain level of influence in recent years. Leveraging its advantageous geographical location, relatively lenient regulatory policies, and mature financial infrastructure, it has attracted numerous forex brokers to conduct business there. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site inspection team traveled to Cyprus for field visits.

Process

In this issue, the on-site inspection team went to Cyprus as planned to visit the forex broker FXTM. According to public information, its office address is Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus.

A professional and experienced on-site verification team, driven by a sense of mission to rigorously vet for investors, traveled to Cyprus according to a well-planned schedule to conduct a physical verification of the broker FXTM, which claims to be located at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus.

The verification personnel successfully arrived at the target building. The surrounding environment of the location is relatively quiet, with a moderate commercial atmosphere. No company signage or related information for FXTM was found on the exterior of the building.

The verification personnel entered the building lobby, stated their purpose to the security guard, but were unable to obtain entry permission.

Due to the inability to enter the building, the verification personnel could not reach the target floor, nor could they confirm whether there were clear signage or security measures in FXTM's office area. Simultaneously, they were unable to photograph the reception desk and its LOGO. This office space is not a shared office.

The verification personnel observed from outside the building and found no information regarding this broker. The overall situation does not align with its claimed positioning.

Therefore, after the on-site verification, it is confirmed that broker FXTM does not exist at the aforementioned address.

Conclusion

The on-site inspector visited the forex broker FXTM in Cyprus as planned. At its publicly displayed business address, no information such as the broker's company name was visible, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be used as the basis for final selection.