Reason for this visit

To help investors have good knowledge of regulated brokers in Cyprus, the survey team this time visited MGTM, a broker based in Limassol, Cyprus.  

Regulatory Information

According to the regulatory information, the broker MGTM has the MM license issued by CySEC and located at 6, Vasili Vryionides STreeT, 2nd Floor, CY-3095 LiMassol.The survey team thus decided to have an on-site visit to this regulatory address for confirmation.

On-site visit

The survey team followed the address from the regulatory information and arrived at an office building at 6, Vasili Vryionides STreeT, 2nd Floor, CY-3095 LiMassol. Outside the building, the team didn’t find any logo of MGTM .   

Entering the lobby of building, the team caught the sight of the directory and mailboxes.        

From the directory of building, the team didn’t find any logo of MGTM or any other information of this broker.    

Conclusion

It is confirmed after the team’s site visit that there is no office of MGTM at the address included in the regulatory information. In other words, the broker’s regulatory information is not true. Please be prudent if trading with this broker. 

Disclaimer

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