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Kantaras, Agios Athanasios, Limassol District, Cyprus
Reason for this visit
Cyprus imprudently purchased Greek government bonds in 2012. When the Greek government bond management defaulted, the Cyprus banking system suffered heavy losses exceeding 30% of the annual GDP of Cyprus, and the country's 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 order to help investors better understand the current situation of foreign exchange brokers in Cyprus, WikiFX survey team is going to the country for on-site visits to the local companies.
On-site visit
In this issue, the survey team went to Limassol, the second largest city in Cyprus, to visit forex broker Equiti (licensee: Equiti Global Markets Ltd) as planned according to its regulatory address that Kolonakiou 39, FREMA PLAZA, 2nd Floor, Agios Athanasios, 4103, Limassol, Cyprus.
On July 27, 2023, the investigators came to the destination at Kolonakiou 39 in Limassol. FREMA PLAZA, a 5-6 story commercial building and shopping center, is situated near a street, enjoying convenient transportation.
After arriving at the commercial building, the survey personnel found several company logos of Equiti in the parking lot and on the external wall of the building, with stores on the ground floor. The name of Equiti could also be seen beside the digital door lock at its entrance. And people were unable to enter the building to pay a special visit without a password. The information mentioned above approves that the company is located in the building.
Through an on-site investigation, it is confirmed that the broker has a physical presence at the place.
Conclusion
The investigators went to Limassol in Cyprus to visit forex broker Equiti as scheduled, and spotted the companys name and logo at the regulatory address. This suggests that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible choice based on an overall consideration.
Disclaimer
The content is used for informational purpose only, and shall not be taken as a final order for making a choice.
Website:https://www.equiti.com/sc-en/
Website:https://www.equiti.com/sc-en/
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