Purpose

The foreign exchange market in Cyprus has developed into a relatively active market in recent years, attracting numerous forex brokers to operate here due to its advantageous geographical location and relatively lenient financial regulatory policies. To assist investors or practitioners 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 Tumeltil in Cyprus as planned. According to public information, its office address is Papanikoli 13, Larnaca 6053, Cyprus.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet for investors, meticulously planned and traveled to Cyprus to conduct an in-person verification of the broker Tumeltil claiming to be located at Papanikoli 13, Larnaca 6053, Cyprus.

The on-site inspector successfully arrived at the area of the target address, where the surrounding environment was relatively ordinary with a mediocre commercial atmosphere. After carefully searching the exterior of the building, no company logo or relevant information of the trader was found.

The field investigator attempted to enter the building lobby and explained their purpose to the security personnel, but failed to obtain permission to enter.

Since access to the building is not possible, it is also impossible to reach the target floor to confirm the office area situation of Tumeltil, let alone determine whether there are any obvious signs or security measures. At the same time, it is not possible to take photos of the reception desk or its logo. This office location is not a shared workspace.

After careful investigation, no information about this broker was found, and it was determined to be false. Therefore, the on-site verification confirmed that the broker Tumeltil does not exist at the above address.

Conclusion

The on-site investigator visited the forex broker Tumeltil in Cyprus as planned. At the publicly displayed business address, no information such as the company name of the broker could be 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 decision-making.