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 RoboMarkets in Limassol, the second largest city in Cyprus, with specific address at Arch. Makarios III Avenue 171, 8th floor, 3127, Limassol.   

On-site visit

The surveyors followed the address on the regulatory information to a local landmark building. RoboMarkets’s office was located in downtown Limassol, and the building was very impressive and the tallest in the neighborhood. The surveyors found the logo of RoboMarkets hanging on the exterior of the building. At the same time, it was presumed that many other forex dealers were rented in the building.

On the directory at the entrance, the surveyor found the name of RoboMarkets and the address displayed by the dealer was consistent with the disclosure. In addition, the directory showed that the dealer was using the 2nd, 5th and 8th floors in this building for a total of three floors.

Similarly, the surveyors found the name of RoboMarkets on the directory in the lobby. And the lobby had an access control system and a reception desk, quite a professional office building.

The surveyors found the office of RoboMarkets on the corresponding floor with their logo on the door. However, due to the epidemic, the company staff refused the internal visits. Thus, the surveyors failed to enter the company for a visit in final.

Conclusion

The physical address of RoboMarkets, a licensed dealer in Cyprus, was the same as the regulatory address. However, the internal situation of RoboMarkets 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.