Purpose

The Egyptian foreign exchange market is an emerging market that has gradually developed in recent years. With the continuous growth of Egypt's economy and the increasing openness to the outside world, foreign exchange trading has been playing an increasingly important role in Egypt's financial market. To help investors or practitioners gain a more comprehensive understanding of foreign exchange brokers in Egypt, the on-site inspection team conducted field visits in Egypt.

Process

The on-site inspection team visited the forex broker MBCFX in Egypt as planned. According to public information, its office address is Hay EL Safarat, Cairo, Egypt.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Egypt to conduct an on-site verification of the trader MBCFX claimed to be located in Hay EL Safarat, Cairo, Egypt.

The field investigator successfully arrived at the target location, which is a relatively remote area with a messy surrounding environment and a weak commercial atmosphere. On-site, no signs or information related to the broker MBCFX were found. Contrary to expectations of a commercial building, the site was a dilapidated bungalow, and it was evident from its appearance that no broker operated here.

Due to the on-site conditions, the survey personnel were unable to enter the so-called company lobby, nor did they find the company's directory board or see its logo, either inside or outside the building. Additionally, they could not reach the specific floor to confirm the exact location, let alone enter the company premises. Since there was no actual company to enter, the question of whether it was a shared office space did not arise, and it was impossible to photograph the reception area or its logo. Through the dilapidated doors and windows, the interior appeared dark with no signs of activity, making it impossible to observe the supposed office environment inside.

Therefore, after on-site verification, it was confirmed that the broker MBCFX does not exist at the above address.

Conclusion

As planned, the on-site investigator visited the foreign exchange broker MBCFX in Egypt. At the publicly displayed business address, no information such as the company name of the broker could be found, indicating that the broker does not have a genuine business premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

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