Reason for this visit

To help investors have good knowledge of regulated brokers in Cyprus, the survey team this time visited LNDFX, a broker based in Limassol, Cyprus. 

Regulatory Information

According to the regulatory information, the broker MGTM has the MM license issued by CySEC and located at 6, Vasili Vryionides STreeT, 2nd Floor, CY-3095 LiMassol.The survey team thus decided to have an on-site visit to this regulatory address for confirmation.

On-site visit

The survey team followed the address from the regulatory information and arrived at an office building at 6, Vasili Vryionides STreeT, 2nd Floor, CY-3095 LiMassol. The building is located near the Limassol Court, 200 meters from the seaside, which looks rather ordinary in appearance.

The team came to the directory outside the building but didn’t find the logo of LNDFX. Then, they entered the building looking around the directory of lobby, but still failed to find any logo of LNDFX. The team took the elevator to the 2nd floor, where the address included in the regulatory information. However, there are only two companies on that floor, one is an advertising design company, the other is a travel company. There is no information indicating that LNDFX is located there.           

 Conclusion

It is confirmed after the team’s site visit that there is no office of LNDFX at the address included in the regulatory information. In other words, the broker’s regulatory information is not true. Please be prudent if trading with this broker. 

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.