Reason for this visit

Cyprus imprudently purchased Greek government bonds in 2012. When the Greek government bond management defaulted, the Cyprus banking system suffered heavy losses, exceeding 30% of the annual GDP of Cyprus, and the country's domestic debt crisis occurred. In response to the crisis, the Cypriot government introduced a terrible solution that was opposed by all the people, aggravating the crisis. At the same time, some people in Cyprus have discovered various foreign currencies that are independent of the sovereign currency and whose prices are in an upward cycle, which might be able to deal with this crisis. As a result, people poured funds into the small foreign exchange market in an attempt to hedge and protect themselves. For various reasons, Cyprus has gradually become a country with active foreign exchange transactions. In order to let investors truly understand the current situation of foreign exchanges in Cyprus, the survey team is going to Cyprus for on-site inspection.

On-site visit

This time the survey team went to Limassol, the second largest city in Cyprus, to visit the foreign exchange dealer Sheer Markets as planned. The survey address is 12 Archiepiskopou Makarou III, Kristelina Tower, Office 301, Mesa Geitonia, Limassol, 4000.

The investigators came to a local landmark building according to the address on the regulatory information. The office of Sheer Markets is located in the center of Limassol. Its main entrance is in the middle of a row of small shops, which is not conspicuous, but the interior decoration of the building is very high-end. It was observed that many foreign exchange dealers were rented in the building.

The investigators found the company name on the water sign at the entrance of the building. The address shown by the dealer is the 3rd floor of the building, which is the same as the disclosed address.

The investigators also found the name of the trader Sheer Markets on the water sign in the lobby. Since there was neither access control system nor front desk in the hall, the survey personnel decided to go upstairs to visit directly.

The investigators found the dealer's office on the 3rd floor, with its LOGO pasted on the door. However, no one responded after the survey personnel rang the doorbell, so they did not enter the company to visit.

Conclusion

The actual address of the dealer Sheer Markets Cyprus licensed company is consistent with the regulatory address, and the office has convenient transportation. Nevertheless, the survey personnel did not enter the company to visit, so the internal situation is unknown. Investors can make a sensible choice after careful consideration.

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.