Introduction

In order to help investors have a more comprehensive understanding of the regulated forex brokers in Cyprus, this time the inspection team visited the dealer Kit Finance in Limassol, Cyprus as planned

Regulatory Information

Type of Licenses: 

CySEC authorized MM License with regulatory address at: 18 Maximos Michaelides Str., Maximos Plaza, Tower II, 1st Floor Section “B”, Neapolis, 3106 Limassol. The inspection team went to the said address for site visit.

Inspection Process

The inspection team followed the regulatory address and arrived at an office building at 18 Maximos Michaelides Str. The building, very grand, is a landmark on this street.

The inspection team came to Tower II of the building, where regulatory information indicated that the office of the broker Kit Finance, was supposed to be on the first floor. But the team could not find any logo of Kit Finance or any other information around the building.

As the gate was closed, the inspection team couldn't get in. Later, a receptionist came out, and informed the inspection team the broker Kit Finance did not work in this building for years.

Conclusion

The inspection team’s site visit confirms that there is no office place of Kit Finance at the regulatory address, which means the broker’s regulatory address is not true. This session of Field Survey is presented as above. 

Disclaimer

The information above is for reference only.