Purpose

The foreign exchange market in Cyprus has developed into a highly influential market in recent decades. Leveraging its advantageous geographical location, lenient financial policies, and robust regulatory framework, it has attracted numerous forex brokers to operate here. To assist investors and professionals in gaining 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 XM in Cyprus as planned. According to public information, its office address is 12, Richard and Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042, Limassol, Cyprus.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Cyprus to conduct an on-site verification of the broker XM claiming to be located at 12, Richard and Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042, Limassol, Cyprus.

The inspector successfully arrived at the location, situated on a bustling commercial street by the seaside in Limassol, with a vibrant surrounding environment and strong commercial atmosphere. However, no company signage was found from the exterior of the building.

The inspector entered the lobby of the building, but the lobby was relatively narrow. They then proceeded to the target floor, where the company's nameplate and logo were immediately visible upon arrival, and photos were taken.

When preparing to enter the company premises, the security personnel refused to allow the inspection team to proceed. Despite attempts at communication, their attitude was very poor, sternly demanding that the inspection team leave and delete the photos. Fortunately, the inspection team managed to retain two photos.

Therefore, the inspector was unable to enter the interior, but they were able to photograph the reception area and its logo. This office is not a shared workspace.

Although this made it impossible to clearly see the internal office environment, it confirmed that the company does indeed exist. From an external perspective, the building is a standalone structure exclusively for the dealer XM.

Therefore, after on-site verification, it is confirmed that the broker XM exists at the above address.

Conclusion

The inspection team visited the forex broker XM in Cyprus as planned. The broker's relevant information was visible at its publicly displayed business address, indicating that the broker has a genuine operational presence. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be considered as the final basis for selection.