Introduction

There is a very large number of regulated forex brokers in Cyprus, and in certain cases the regulatory addresses of different brokers are the same. In order to help investors know more about the brokers in Cyprus, this time the inspection team went to Limassol, Cyprus to visit the broker COINBITS GLOBAL as planned.

Regulatory Information

COINBITS GLOBAL is MM licensed by CySEC, with registered address at: 1, Agias Fylaxeos Street, KPMG Center, 2nd Floor, CY-3025 Limassol.

Inspection Process

The team arrived at the office building named KPMG Center at 1, Agias Fylaxeos Street, Limassol, Cyprus. The building is located at an intersection, which looks rather grand and eye-catching. It is about 300 meters from the sea.

There is no sign of COINBITS GLOBAL on the signboard outside the building.

There is no logo of COINBITS GLOBAL on the nameplates outside the building and on the floor directory in the lobby.

To further confirm whether COINBITS GLOBAL works in this building, the team went to the second floor and still didn’t see any logo of COINBITS GLOBAL. But peering through the glass at the office door, the Logo of Alvexo rather than that of COINBITS GLOBAL is shown at the reception area.

Conclusion

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

Disclaimer

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