Survey Background

The investigation team has received calls from investors asking for more disclosure of traders whose real office address was not in accordance with the address that regulation agency released. Given the feedback from the investors, The investigation team planed to visit Daweda in Cyprus on spot.

Building Survey

According to the regulation information, the company address of Daweda is 377 28th October Street, 6th Floor, Soboh House, 3107 Limassol.The investigation staff visited the spot.

Guided by the regulation information, the investigation staff came to the October Street, and saw a well-marked sign of “Soboh House”. This is the building where Daweda’s office locates.

Exclusive

Arrived at the 6th floor, the investigation staff didn’t see any logo of Daweda,instead, they found a logo of a real estate developer. Then the investigation staff rang the bell, and a staff of the real estate company told them that Daweda has already moved its office.

Conclusion

As confirmed by the surveyor's field survey, the actual address of  the Cyprus licensed broker Daweda was not the same with its licensed address. The broker's STP license under the license number 289/16 from CySEC has been suspended.