WikiFX Visited Forex Broker ABC 123 in Cyprus

The rapid development of forex industry has also given rise to many problems and irregularities involving forex brokers both at home and abroad. Recently, WikiFX received investors complaints against the forex broker ABC 123 and decided to visit its office in Cyprus to find out more about the broker.

Broker: ABC 123

Address: 9, Spyrou Kyprianou Avenue, Neda Court, Floor 1, 3070, Limassol, Cyprus.

Visited by: WikiFX investigation team

Conclusion: broker‘s office doesn’t exist

Geographic location

Located on the southern coast of Cyprus, Limassol is the countrys second largest city. Due to a regulation less strict than most western countries, Limassol has attracted many forex brokers to register their businesses here.

Location of the broker ABC 123

On-the-spot investigation

Following the regulatory information, WikiFX investigation team arrived at the business building where ABC 123 should be located. Upon entering the building, we immediately saw the floor directory sign, but there was no sign of ABC 123‘s logo on it. In order not to miss any clue, we continued to search through the building, yet still couldn’t find the broker‘s office. Finally, we confirmed from the building management staff that “there’s no such company entitled ABC 123 inside the building”.

Exterior of the building

The buildings floor directory

Summary

Per investigation, we found that the office of ABC 123 in Cyprus doesnt exist. Per checking WikiFX App, ABC 123 is rated at only 1.78, and its STP license from CySEC(Cyprus) is suspected to be a cloned one, while its other financial service license from FSPR(New Zealand) has been revoked. According to live updates on the WikiFX App, ABC 123 is no longer under valid regulation, and has been involved in investment scam. WikiFX has labeled it as illegal and investors should beware of the risks and stay away from the broker.

WikiFXs risk warning about ABC 123

Up until now, WikiFX has recorded the profiles of around 16,000 forex brokers, and by typing in a brokers name on the WikiFX App, investors can easily look up detail information and visit report of the broker.