Reason for this visit
Cyprus purchased Greek national debt non-prudently in 2012. When the Greek national debt management defaulted, the Cyprus banking system suffered heavy losses, exceeding 30% of Cyprus’s GDP, and the country’s domestic debt crisis arose. In response to the crisis, the Cypriot government introduced a terrible solution that was opposed by all people, aggravating the crisis. At the same time, some people in Cyprus discovered that various cryptocurrencies whose prices are in an upward cycle, independent of sovereign currencies, may be able to cope with this crisis, so some funds poured into the small cryptocurrency market in an attempt to avoid risks and protect themselves. Gradually, Cyprus has become an active country for cryptocurrency transactions. In order to help investors learn more about the current status of the cryptocurrency exchanges in Cyprus, the survey team is going to Cyprus for site visits.
This time the survey team visited the cryptocurrency dealer TOPFX in Limassol, the second largest city in Cyprus, with specific address at 19 Stratigou Timagia, 3rd Floor, 3107 Limassol, Cyprus.
According to the above address, the survey team came to the destination of this survey. It was a modern office building, where the TopFX’s office was located on the upper floor of Alfamega, a large supermarket in the eastern part of Limassol, Cyprus. Also, the building was near the Seaside Avenue with a nice office environment.
It was necessary to hold a access card to enter the building. At the entrance, there was an sign indicating the TopFX’s office was on the third floor. Once you reach the third floor by elevator, you can see a large logo of TopFX.
The surveyors were welcomed by the the CEO and marketing staff of TopFX to visit their office. It was learned that there were more than 50 employees working there.
Entering the office, there was a reception desk and open office space, in which there were many employees working there. Next to the office area, it was a large activity area with all kinds of activity equipment.
Looking around, the office environment of TopFX was clean and orderly. During the visit, we could see that the staff were busy in working. In addition, the surveyors received the hospitality from the CEO of the company.
It is confirmed after the survey team’s site visit that the cryptocurrency exchange TopFX’s office indeed was located at its business address. The office scale was quite large with approximately 50 employees on duty. Please be prudent when trading with this broker.
The content is for informational purpose only, and shall not be taken as final order for making choice.
1-2 years | Suspicious Regulatory License | Medium potential risk