Reason for this visit

Cyprus imprudently purchased Greek government bonds in 2012. When the Greek government bond management defaulted, the Cyprus banking system suffered heavy losses exceeding 30% of the annual GDP of Cyprus, and the country's domestic debt crisis occurred. In response to the crisis, the Cyprus government introduced a terrible solution that was opposed by all the people, which aggravated the crisis. At the same time, some people in Cyprus discovered that having an upward trend in price, various foreign currencies that were independent of the sovereign currency might be able to cope with this crisis. As a result, people poured funds into the small foreign exchange market in an attempt to hedge and protect themselves. For various reasons, Cyprus has gradually become a country with active foreign exchange transactions. In an attempt to help investors better understand the current situation of foreign exchange brokers in Cyprus, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Cyprus to visit forex broker CFI as planned according to its regulatory address that 10, Gregori Afxentiou Street, Livadhiotis Court 5-5th Floor, CY-6023 Larnaca.

The investigators came to 10 Gregori Afxentiou Street in Larnaca, Cyprus for a visit to the brokers office on February 27, 2024, and located Livadhiotis Court 5, a 5-storey building, within 100 meters away from the renowned Finikoudes and Athinon streets. The building is easily accessible with an old-fashioned façade.

Upon arrival at the building for further investigation, the survey personnel spotted the company name and logo of CFI at the entrance. In the meantime, the directory and a mailbox in the lobby also displayed that CFI was situated on the 5th floor in the building.

After reaching the 5th floor via the elevator, the inspection team discovered clearly the logo of CFI.

Through the on-site investigation, it is confirmed that the company has a physical presence at the place.

Conclusion

The survey team went to Cyprus to visit forex broker CFI as scheduled, and found the companys name at its regulatory address. This signifies that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible decision following much deliberation.

Disclaimer

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