Reason for this visit

In the retail foreign exchange market, there is a very large number of FX traders in Cyprus. To help investors have good knowledge of regulated brokers in Cyprus, the survey team this time visited Ausprime, a broker based in Limassol, Cyprus.

Regulatory Information

The broker Ausprime holds a MM license authorized by CySEC. According to the regulatory information, its registered address is: Spyrou Kyprianou Avenue, Room 102, Block B, Steratzias Court, No.41, 4003, Mesa Geitonia, Limassol. The survey team set out for this place.

On-site visit

The survey team followed the address on the regulatory information to an office building at Spyrou Kyprianou Avenue, Limassol, Cyprus. The address of building is shown as Block B, Steratzias Court, No.41, which is consistent with the one on the regulatory information. Furthermore, it is about 2km away from the famous Esplanade, not far from the cross-city expressway, with superior location and convenient transportation.  

After entering the building, the survey team found that the logo of other companies is displayed on Office 102, which is inconsistent with the regulatory information. According to the information, it shall belong to the broker Ausprime.   

To further verify whether Ausprime works in this building, the team came to Office 102. Also, there isn’t any information or logo of Ausprime. It seems that no one is working here because a potted flower stands in front of the door. 

Conclusion

It is confirmed after the team’s site visit that there is no office of Ausprime at the address included in the regulatory information. In other words, the broker’s regulatory information is not true and suspected to use cloned license. 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.