Reason for this visit

In order to help investors have a more comprehensive understanding of the regulated forex brokers in Cyprus, this time the survey team visited ForexMart, a broker based in Limassol, Cyprus.

Regulatory information

According to the regulatory information, the broker ForexMart has the MM license issued by CySEC and located at 23A, Spetson, Leda Court, Block B, Office B203, Mesa Geitonia, CY- 4000 Limassol. The survey team thus decided to have an on-site visit to this regulatory address for confirmation.

On-site visit

The survey team followed the address on the regulatory information to an office building in Limassol, Cyprus. The building looks grand named"Libra tower", the logo of which can be seen from a distance. At first glance, it isn’t particularly new but nice.

According to the regulation information, the broker ForexMart is located in Office B203 in Block B of building. Later, the team came to Block B, however, they failed to find any logo of ForexMart on the mailbox and directory.     

The team took the elevator to the 2nd floor and found Office 203, at where ForexMart's logo was clearly in sight.  

Conclusion

It is confirmed after the survey team’s site visit that ForexMart’s office indeed is located at the regulatory address. However, the team was unable to enter the broker's office so that the business scale and operation condition of which remained unknown. Please be prudent when trading with this broker. 

Disclaimer

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