How to formalize the groups axioms in a first order language?

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I'm having trouble to formalize in FOL with equality, the statement

"Every element has a multiplicative inverse" or

"For every $x$ there's a $y$ such that $xy = e$ where $e$ is some identity.

The problems comes in with the identity. I tried to formalize as $ \forall x(\exists y( xy = x \wedge yx = x) \rightarrow \exists z(xz = y \wedge zx = y))$

is that correct?