Purpose

The Cyprus forex market has developed in recent years into a market with certain international influence. Benefiting from relatively relaxed financial regulatory policies and an advantageous geographical location, it has attracted attention from numerous international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, an on-site inspection team conducted field visits in Cyprus.

Process

The on-site inspection team visited the forex broker ITG in Cyprus as planned. According to public information, its office address is "Lykourgou, 38 Athienou, 7600, Larnaca, Cyprus".

A professional and experienced on-site inspection team, driven by a mission to rigorously vet for investors, meticulously planned and traveled to Cyprus to conduct an on-site verification of the broker ITG claiming to be located at 'Lykourgou, 38 Athienou, 7600, Larnaca, Cyprus'.

The inspector successfully arrived at the target location, where the surrounding environment was average. No company signage or relevant information related to ITG was found on the exterior of the building.

The investigator attempted to enter the building but failed to obtain access permission. From external observation, no signage for the company was found inside the building.

Since access to the building was not possible, we were unable to reach the target floor to verify the exact location. Furthermore, we could not determine whether the company's office area had clear signage or security measures, nor were we able to enter the company premises. This location is also not a shared office space.

Since no information about this broker has been found, its authenticity is questionable. Therefore, after on-site verification, it has been confirmed that broker ITG does not exist at the aforementioned address.

Conclusion

The inspection team visited the forex broker ITG in Cyprus as planned. At the publicly displayed business address, they failed to find any information such as the broker's company name, indicating the broker does not have a genuine operational premises. 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.