A Visit to ARGUS in Cyprus – Office Found

Reason for this visit

Established in 2003, the Cyprus Securities and Exchange Commission (CySEC) is a financial services regulatory authority, overseeing financial products including securities, stocks, foreign exchange, etc., and its financial regulation and operations align with the European Unions MiFID financial framework.

Since Cyprus joined the EU in 2004, CySEC has become an integral part of the EU‘s Markets in Financial Instruments Directive (MiFID) regulations. This means that any company registered in Cyprus can freely bring its business into the entire European market. As a result, Cyprus has invisibly attracted more and more overseas companies to choose to register there. There has been a notable increase in overseas retail forex brokers who are eager to obtain CySEC regulation. Additionally, significant changes have occurred in Cyprus since it adopted the Euro in 2008. CySEC is now regarded as a reputable regulatory authority, and obtaining a CySEC license gives customers a more positive impression of a company. In brief, obtaining a CySEC license in Cyprus provides clients with a greater sense of security and protection. Furthermore, Cyprus not only has the lowest corporate tax rate among all EU member states but also aims to develop Cyprus’ stock market into the safest, most reliable, and attractive investment destination. In an attempt to provide investors with a tangible understanding of the current situation of brokers in Cyprus, WikiStock survey team is determined to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Cyprus to visit broker ARGUS as planned according to its regulatory address that 25 Demosthenis Severis Avenue, Metropolis Tower, 1st And 2nd Floor, CY 1080, Strovolos, Nicosia, Cyprus.

The investigators came to 25 Demosthenis Severis Avenue in Strovolos of Nicosia, the capital of Cyprus, for a visit to the brokers office on March 14, 2024, and located Metropolis Tower in a commercial office district, which boasts convenient transportation, capturing steady stream of people.

Upon arrival at the building for further investigation, the survey personnel spotted that it was easily accessible with four stories and a well-maintained façade, and there was a directory and mailboxes on the ground floor, which displayed the company name and logo of ARGUS, as well as its floor number. This tangibly denotes the existence of the company in the building.

After proceeding to the 2nd floor via the elevator, the inspection team easily discovered the company information and logo of ARGUS at its office. The door was open, and there were multiple staff members working in the space.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Cyprus to visit broker ARGUS as scheduled, and found the company at its regulatory address. This signifies that the broker has a physical business office at the place. Meanwhile, investors are advised to make a judicious decision following an overall consideration.

Disclaimer

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