A Site Visit to BWM Exchange in Cyprus -- Office Not Really Exist-BWM Exchange Cyprus-WikiFX Field Survey-WikiFX

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A Site Visit to BWM Exchange in Cyprus -- Office Not Really Exist

Cyprus

2020-9-29

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Suspicious Clone

BWM Exchange

Score 1.36

Negative

Details

Introduction

In order to help investors know more about the regulated FX brokers in Cyprus, this time the inspection team went to Limassol, Cyprus to visit the broker BWM Exchange as planned.

Regulatory Information

BWM Exchange is MM licensed by CySEC, with registered address at: 88, Agias Fylaxeos, Zavos City Center - 4th Floor, P. O. Box 56943, CY-3311 Limassol. The inspection team set out for the said address.

Inspection Process

The team arrived at the office building located at 88, Agias Fylaxeos. The building, named Zavos City Center, is 200 meters from the sea. On a busy commercial street in Limasso, the office building stands out and looks grand.

There is no sign of BWM Exchange on the signboard outside the building, instead, Leverate’s logo is there.

The team went to the 4th floor to further confirm whehter BMW Exchange’s office is there or not. At the door of Room 401, there is no logo of BMW Exchange, only logo of Leverate. The team learned from staff in Room 401 that it is not office of BWM Exchange.

Conclusion

Through the on-site inspection, it is confirmed that at the address mentioned in the regulatory information there is no office of BWM Exchange, which means the regulatory information is not true. Please pay attention to potential risks.

Disclaimer

The content is for information purposes only and it is not intended as a recommendation or advice.

Broker Information

Suspicious Clone

BWM Exchange

Website：http://www.bwm.exchange/

2-5 years | Suspicious Regulatory License | MT4/5 White Label | Re…

Company Name：

Leverate Financial Services Limited

Company Abbreviation：

BWM Exchange

Official Email：

compliance@bwm.exchange

Customer Service Phone Number：

+357 25254422

Country/Area of Registry：

Cyprus

Twitter：

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Leverate Financial Services Limited

Cyprus

2020-09-29 VR Field Survey

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