Reason for this visit

Cyprus imprudently purchased Greek government bonds in 2012. When the Greek government bonds default occurred, the Cyprus banking system suffered heavy losses exceeding 30% of the annual GDP of Cyprus, and the countrys domestic debt crisis occurred. In response to the crisis, the Cyprus government introduced a terrible solution that was opposed by all the people, which aggravated the crisis. At the same time, some people in Cyprus discovered that having an upward trend in price, various foreign currencies that were independent of the sovereign currency might be able to cope 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 an attempt to help investors better understand the current situation of foreign exchange brokers in Cyprus, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Limassol, the second largest city of Cyprus, to visit forex broker KEY TO TRADING as planned according to its regulatory address that 254 Archiepiskopou Leontiou A, Maximos Court, Block A, 7th floor, 3020 Limassol, Cyprus.

The investigators came to 254 Archiepiskopou Leontiou A in Limassol, Cyprus for a visit the brokers office, and located the Maximos Court, an 8-storey commercial building with a well-maintained façade, in the city center.

Upon arrival at the building for further investigation, the survey personnel spotted various retail stores on the ground floor. And the intercom system at the entrance of the building did not display the broker name KEY TO TRADING. However, there was a directory in the lobby, which indicated that the company was situated in suite 72.

And then the inspection team took the elevator to the 7th floor, where they saw the brokers office at the end of the corridor with a mirror on its door. There was a “KT” logo for Key To Trade displayed prominently on the left side of the unit. At the same time, some staff members of the broker were working in the office.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Cyprus to visit broker KEY TO TRADING as scheduled, and found the company at its regulatory address. This signifies that it has a physical business office at the place. Meanwhile, investors are advised to make an informed decision following much deliberation.

Disclaimer

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