Purpose

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

Process

The on-site inspection team visited the forex broker ROCO in Egypt as planned. According to public information, its office address is Concord Business Center, 334 90th South Street, New 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 ROCO claiming to be located at Concord Business Center, 334 90th South Street, New Cairo, Egypt.

The inspector successfully arrived at Concord Business Center, located in New Cairo, Egypt. No company logo or related information of ROCO was found on the exterior of the building.

The surveyor enters the building lobby and explains their purpose to the security or staff. After communication, they obtain permission to enter.

Since there are no company nameplates in the building, it is impossible to determine the specific floor, and thus we were unable to reach the target floor to confirm the office area situation of ROCO. Inquiries at the front desk indicated that there is no such company. Because the company's location could not be found at all, there was no situation where the company's office area had obvious signage or security measures, nor could we enter the interior to take photos of the front desk or its logo. Additionally, this office space is not a shared office.

Through the lobby area, it is impossible to observe the internal environment, decoration style, or employee activities of the company due to the inability to determine its specific internal location. Overall, this situation does not align with its claimed positioning of having an actual office address.

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

Conclusion

As planned, the field investigator visited the forex broker ROCO in Egypt. At the publicly displayed business address, no information such as the company name of the broker was found, indicating that the broker does not have a genuine business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and should not be taken as the final basis for decision-making.