forex WikiFX Visited Binary Option Broker 33option in Cyprus

[Anzo Lim 0]

https://www.wikifx.com/sg_en/

Broker: 33option

Visited at: 1, Kosta Hadjikakou, Kyriakos Tower, 1st Floor. Agios Athanasios, CY-4107 Limassol, Cyprus

Conclusion: The broker’s office doesn’t exist

 

On-the-spot investigation

Near the end of the year, forex market is still busy as ever, while the illegal forex brokers are taking the opportunity to defraud investors. Forex scams related to exchange rates are difficult to curb despite the regulatory efforts.

Upon investors’ request, WikiFX team recently visited the licensed branch of forex broker 33option in Cyprus.

 

According to the address from regulatory information, with the assistance of GPS and local passerby, WikiFX finally found Kosta Hadjikakou Street where 33option is located.

 

We noticed that the street runs through a residential neighborhood without any office building or company. After searching from door to door, we found the place matching 33option’s regulatory address - a house with the number “1” on the door. However, the door was locked and no one answered when we knocked. The place didn’t seem like a regular company in business, and people living next door also said this was a normal residence and the owner only comes home at night.

 

Through checking WikiFX App, we found that 33option uses non-MT4/5 software and has a low rating of 1.84. The broker’s license from CySEC has been canceled and it currently has no valid regulation. Investors should mind the risk and avoid falling victim to it.

 

WikiFX reminds investors that binary option brokers will often disguise themselves as online financial and investment service providers to assume “legitimacy”. These binary option brokers are usually registered overseas with overseas servers, while they don’t have any actual business location or executable assets within the country. Should the service provider breach the contract, investors will not be able to defend their rights through legal actions against the broker.

Edited January 8, 2020 by Anzo Lim

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