Purpose

The Cyprus forex market has developed into an influential forex market in recent years, attracting numerous forex brokers to establish operations there due to its relatively relaxed financial policies and advantageous geographical location. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the team conducted on-site visits in Cyprus.

Process

As scheduled, the team visited the forex broker LegacyFX in Cyprus for an on-site inspection. According to publicly available information, its office address is CY - 6042 Larnaca, Kondylaki Ioanni 47 5th Floor Q Tower.

A professional and experienced team, driven by a sense of mission to rigorously vet for investors, traveled to Cyprus according to a meticulous plan to conduct an on-site verification of the broker claiming to be located at CY - 6042 Larnaca, Kondylaki Ioanni 47 5th Floor Q TowerLegacyFX.

The team has successfully arrived at Q Tower, located at 47 Kondylaki Ioanni in Larnaca. The surrounding area is relatively bustling with a strong commercial atmosphere. However, no company signage or related information for LegacyFX was found on the exterior of the building.

The team entered the building lobby and stated their purpose to the security guard. After a brief communication, they obtained permission to enter.

Upon reaching the target floor, the 5th floor, the team discovered there were no clear signs indicating LegacyFX's office area. The directory at the entrance showed that the 5th floor housed other companies, unrelated to LegacyFX. After checking, it was confirmed that LegacyFX was not located on this floor. Since the company was not present there, the team could not enter the premises, nor could they photograph the reception area and its logo. Furthermore, this floor was not a shared office space.

Through the floor passageway, the team was unable to observe the so-called internal company environment and other conditions. The overall situation does not match its claimed positioning.

Therefore, after on-site verification, it has been confirmed that broker LegacyFX does not exist at the above address.

Conclusion

The team visited the forex broker in Cyprus as planned. At its publicly displayed business address, no information such as the broker's company name was visible, indicating that the broker does not have a genuine physical business location. 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 final basis for selection.