Purpose

The Egyptian foreign exchange market is an emerging market that has developed in recent years. With the gradual opening of Egypt's economy and the continuous development of its financial markets, foreign exchange trading has been playing an increasingly important role in the country's economic activities. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, an on-site inspection team conducted field visits in Egypt.

Process

The on-site inspection team visited the foreign exchange broker ELHORREYA in Egypt as planned. According to public information, its office address is 2 El Borsa El Gedida St., off Kasr El Nil St., 4th Floor.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Egypt to conduct an on-site verification of the trader claiming to be located at 2ش البورصة الجديدة – من شارع قصر النيل – الدور الرابع ELHORREYA.

The field investigator successfully arrived at the target location. However, upon arrival, no information about the trader was found. Inquiries with passersby revealed that this area is a residential zone with no companies operating here. The surroundings of the location did not exhibit a strong commercial atmosphere, and the overall environment was inconsistent with the positioning of a business office. No company signage or related information was found on the exterior of the building.

The field investigator attempted to enter the building but was unable to do so as it is not a commercial office building. Since this is a residential area, there is no lobby, nor are there any security guards or staff available for communication and registration, making it naturally impossible to obtain entry permission.

Observing the environment outside the building, there are no signs indicating the presence of a trader's office here. The overall situation does not match its claimed positioning.

Therefore, after on-site verification, it is confirmed that the broker ELHORREYA does not exist at the above address.

Conclusion

As planned, the field investigator visited the foreign exchange broker ELHORREYA in Egypt. However, no information such as the company name of the broker was found at its publicly displayed business address, 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.