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 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 Cyprus to visit forex broker ONE PLUS CAPITAL as planned according to its regulatory address that 75 Prodromou Avenue, One World House, 3rd Floor, CY 1307, Nicosia, Cyprus.

On March 8, 2024, the investigators came to 75 Prodromou Avenue in Nicosia, the capital of Cyprus, and located One World House, a modern 5-storey commercial building, next to the street. The building is easily accessible with a well-maintained façade.

Upon arrival at the building for further investigation, the survey personnel spotted a directory and mailbox on the ground floor, which didnt display the name of “ONE PLUS CAPITAL”. However, the building intercom system showcased prominently that One Plus Capital was situated on the 3rd floor.

After reaching the floor via the elevator, the inspection team easily discovered the companys office, and there was a roll-up banner with the company profile at the door.

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

Conclusion

The survey team went to Cyprus to visit forex broker ONE PLUS CAPITAL as scheduled, and found the companys name at its regulatory address. This signifies that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible 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.