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 Magic Compass as planned. The survey address is Sarlo 9, Agios Athanasios, 4106, Limassol, Cyprus.

The investigators came to a local villa area according to the address on the supervision information. The office of Magic Compass is located on the north side of the Transcity Expressway in Limassol, Cyprus. This is a single-family building for the sole use of the trader Magic Compass. The terrain is high and the coastline scenery is unobstructed. The interior decoration of the building is quite high-end, and there is a company water sign outside the building.

After the survey personnel expressed their intentions, the front desk lady of the dealer warmly received them and led them to visit the company.

According to the introduction of the front desk lady, the office is divided into upper and lower floors, and there are more than 10 workstations in the office area. At present, employees are still working from home on rotation, so there are sporadic vacancies in the office.

When visiting the administrator's office, the person in charge of the company greeted the survey personnel friendly, saying that Magic Compass has large offices in both Hong Kong and Shenzhen, with about 100 employees. He also sent a survey invitation to the investigators.

Conclusion

The physical address of the dealer Magic Compass Cyprus licensed company is consistent with the regulatory address. The office has convenient transportation. There are about 10 workstations, and the staff and the person in charge are friendly and enthusiastic. Investors are advised to 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.