Reason for this visit

Cyprus imprudently purchased Greek government bonds in 2012. When the Greek government bonds default occurred, 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 Limassol, the second largest city of Cyprus, to visit forex broker Zetano as planned according to its regulatory address that 176 Archiepiskopou Makariou III Avenue, Paschalis House, 2nd Floor, Office 201, CY 3027 Limassol, Cyprus.

The investigators came to 176 Archiepiskopou Makariou III Avenue in Limassol, Cyprus for a visit to the brokers office on March 27, 2024, and located Paschalis House, a 5-storey structure with a well maintained façade, in the central business district of the city.

Upon arrival at the building for further investigation, the survey personnel spotted clearly a directory and a mailbox at the entrance to the building, which displayed that WONDERINTEREST was situated in Office 201 on the 2nd floor. After walking to the floor, there were 2 offices, among which Office 201 was occupied by WONDERINTEREST, Zetano, and Investago.

According to the website of WONDERINTEREST, it owns both Zetano and Investago. Through the on-site investigation, it is confirmed that Zetano has a physical presence at the location.

Conclusion

The survey team went to Limassol, Cyprus to visit broker Zetano as scheduled, and found the companys name at its regulatory address. This signifies that it has a physical business office at the place. Meanwhile, investors are advised to make an informed 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.