Reason for this visit

Cyprus purchased Greek national debt non-prudently in 2012. When the Greek national debt management defaulted, the Cyprus banking system suffered heavy losses, exceeding 30% of Cyprus’s GDP, and the country’s domestic debt crisis arose. In response to the crisis, the Cypriot government introduced a terrible solution that was opposed by all people, aggravating the crisis. At the same time, some people in Cyprus discovered that various forex whose prices are in an upward cycle, independent of sovereign currencies, may be able to cope with this crisis, so some funds poured into the small forex market in an attempt to avoid risks and protect themselves. Gradually, Cyprus has become an active country for forex transactions. In order to help investors learn more about the current status of the forex exchanges in Cyprus, the survey team is going to Cyprus for site visits.

Office Building

This time the survey team visited the dealer 3angleFX in Limassol, the second largest city in Cyprus, with specific address at Kristelina Tower, 12 Arch. Makarios III Av. Office 401, Mesa Geitonia, 4000, Limassol, Cyprus.   

On-site visit

The surveyors followed the address on the regulatory information to a local landmark building. 3angleFX's office was located in downtown Limassol and the main entrance was inconspicuous in the middle of a row of small stores, but the building's interior looked upscale.

The surveyor failed to find the name of 3angleFX on the directory at the entrance of the building. The address displayed by the dealer was the 4th floor of the building, but the compartment on the 4th floor was empty.

As with the directory outside the building, the surveyors did not find the name of the dealer 3angleFX on the directory in the lobby. Since there was no access control system or reception desk in the lobby, the surveyors decided to go straight upstairs for a further visit.

The surveyors found the 3angleFX's office on the fourth floor with their logo on the door. And it was observed that the entire fourth floor was used solely by the dealer. The surveyors rang the doorbell but no one answered, so they were unable to gain access to the dealer's interior.

Conclusion

The physical address of 3angleFX, a licensed dealer in Cyprus, was the same as the regulatory address. All things considered, the dealer's office was easily accessible. However, the internal situation of 3angleFX was still unknown as the surveyors did not have access to the office. Investors can make their choice after comprehensive consideration.

Disclaimer

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