Purpose

The foreign exchange market in Cyprus has developed into a vibrant market in recent years, attracting numerous forex brokers to operate here due to its advantageous geographical location, lenient regulatory policies, and robust financial infrastructure. To help investors and professionals gain a more comprehensive understanding of forex brokers in this region, an on-site inspection team conducted field visits in Cyprus.

Process

The on-site inspection team visited the forex broker Elegantopex in Cyprus as planned. According to public information, its office address is Petraki Giallourou, 19 Aradippou, Larnaka 7102, Cyprus.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Cyprus to conduct an on-site verification of the trader Elegantopex reportedly located at Petraki Giallourou, 19 Aradippou, Larnaka 7102, Cyprus.

The inspector successfully arrived at the target location. The surrounding environment does not have a particularly noticeable commercial atmosphere and appears rather ordinary. No company logo or related information of Elegantopex was found on the exterior of the building.

The inspector went to the building lobby and explained their purpose to the security personnel. However, since there was no relevant information about the company in the building, permission to enter was not granted.

The on-site inspector was unable to reach the target floor to confirm the specific location, so there was no situation where the company's office area had obvious signage or security measures. Since no trace of the company was found at all, entry was not possible, and the office location was not a shared workspace.

Since there was no information about this broker, inquiries were made with nearby individuals, who stated they had never heard of the company, leading to the conclusion that it was fictitious. Therefore, after the on-site inspection, it was confirmed that the broker Elegantopex does not exist at the aforementioned address.

Conclusion

The inspection team visited the forex broker Elegantopex in Cyprus as planned. At the publicly displayed business address, no information such as the company name of the broker was found, indicating that the broker does not have a genuine business premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be considered as the final basis for selection.