Purpose

The Cypriot forex market has developed into an influential forex market in recent years. Leveraging its advantageous geographical location, relatively lenient regulatory policies, and robust financial infrastructure, it has attracted numerous forex brokers to establish operations there. To assist investors or industry professionals in gaining a more comprehensive understanding of forex brokers in this region, the on-site inspection team conducted field visits in Cyprus.

Process

The on-site inspection team visited the forex broker Procoinmarkets in Cyprus as planned. According to public information, its office address is Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet for investors, traveled to Cyprus according to a meticulous plan to conduct an on-site verification of the broker Procoinmarkets, which claims to be located at Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus.

The investigator successfully arrived at Irida 3 Tower, located in the Larnaca area of Cyprus. The surrounding environment is relatively bustling with a strong commercial atmosphere. However, no company signage or related information for Procoinmarkets was found on the exterior of the building.

The on-site inspector entered the building lobby and stated their purpose to the security personnel. After communication, permission to enter was granted.

However, since access to upper floors is not permitted, it is impossible to reach the target floor (10th floor), and thus unable to confirm whether the office area of Procoinmarkets has clear signage or security measures. Naturally, it is also not possible to enter the interior, take photos of the reception area and its logo, and this office space is not a shared office.

Upon arrival, the on-site investigator confirmed this was the address, but found no information about this broker, determining it to be false. Therefore, the on-site investigation confirmed that broker Procoinmarkets does not exist at the above address.

Conclusion

The on-site investigator visited the forex broker Procoinmarkets in Cyprus as planned. At the publicly displayed business address, no information such as the broker's company name could be found, indicating that the broker does not have a genuine physical business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be used as the sole basis for final decision-making.