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 foreign exchange brokers in Egypt, an on-site inspection team conducted field visits in Egypt.

Process

The on-site inspection team visited the foreign exchange broker MIC in Egypt as planned. According to public information, its office address is 58 Syria St., Mohandessen, Giza, 12411, Egypt.

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 broker MIC claiming to be located at 58 Syria St., Mohandessen, Giza, 12411, Egypt.

The inspection personnel successfully arrived at the target building, which is located in a specific commercial area in Egypt. The surrounding environment appears relatively ordinary from the exterior, with an average commercial atmosphere. No signs or related information of MIC company were found on the exterior of the building.

The surveyor entered the building lobby and explained their purpose to the security personnel. After a brief communication, they obtained permission to enter the building.

Upon arriving at the target floor, the investigator found that the so-called MIC office area had no clear signage or relevant security measures. The floor was occupied by other companies. Upon inquiring with the security guard, they were informed that MIC did not exist there. Since the company was not actually present, it was impossible to enter the premises or photograph the reception area and its logo. Additionally, the office space was not a shared workspace.

Through the public areas of the floor, the inspectors naturally could not observe the internal environment of MIC company and other conditions. The overall situation does not match its claimed positioning.

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

Conclusion

The on-site inspection team visited the foreign exchange broker MIC in Egypt as planned. However, they could not find any information such as the company name at the publicly displayed business address, indicating that the broker does not have a genuine operational location. 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.