WikiFX Visited Forex Broker BWM Exchange in Cyprus

In order to better protect investors' assets during the epidemic, WikiFX continues our on-spot survey to bring you the most reliable reports about global brokers. Recently, upon investors' requests, WikiFX visited the forex broker BWM Exchange in Cyprus.

Broker's name: BWM Exchange

Regulatory address: 88, Agias Fylaxeos, Zavos City Center-4th Floor, PO Box 56943, CY-3311 Limassol, Cyprus.

Visited by: WikiFX

BWM Exchange, a brand operated by the investment company Leverate Financial Services Limited, is regulated by the Cyprus Securities and Exchange Commission (CySEC). Headquartered in Cyprus, BWM Exchange provides various trading tools, including foreign exchange and CFDs on stocks, commodities and indices.

Following the regulatory address and navigation, we arrived at Limassol, the second largest city in Cyprus, and found Zavos City Center in Agias Fylaxeos. Is the office of BWM Exchange here？

Zavos City Center building exterior

Entering the building, we saw a floor directory at the door with the names of companies on each floor written in detail, but we didn't find BWM Exchange on the signs. In order to further verify whether BWM Exchange's office is here, we checked the 4th floor according to the broker's regulatory address.

Floor directory signs

At office 401, we only found a company called Leverate, and the employees there said that although they had heard of BWM Exchange, they were not sure about the company's office address.

BWM Exchange's office address didn't match with its regulatory information.

Conclusion

Through the visit, we conclude that the office location of BWM Exchange is inconsistent with the CySEC regulatory address. In addition, according to WikiFX's latest risk warning, the trader is suspected of trading under cloned license, and the score on the WikiFX App is only 1.29. Please be careful about this broker.

BWM Exchange scored 1.29 on WikiFX App

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