Reason for this visit

The German forex market has a wide range of participants, including both domestic resident subjects and foreign non-resident institutions. By category, it mainly includes domestic and foreign commercial banks, foreign exchange brokers, non-bank institutions and central banks. Among them, multinational corporations and non-bank financial institutions generally involve huge amounts of transactions. Small and medium-sized enterprises are involved in forex trading out of the need to pay for goods and services, but their forex buying and selling orders are smaller compared to banks and large speculators. In addition, retail investors and small speculators are the smallest component of the forex market, who tend to participate in the market indirectly through banks and brokerage firms. In order to maintain the stability of the financial system and the value of euro, the European Central Bank and the central banks of its member states participate in market transactions as ordinary market participants. If necessary, they would guide and regulate the forex exchange market. In the German forex market, the central banks involved in regulation mainly include the European Central Bank and the German Central Bank. As one of the founding members of the EU, Germany's financial supervision has always been more stringent, and so is the regulation of foreign exchange. The Federal Financial Supervisory Authority, or BaFin for short, is an independent federal agency in Germany. Headquartered in Bonn and Frankfurt, BaFin is supervised by the German Federal Ministry of Finance. To help investors or practitioners have a more comprehensive understanding of the forex dealer in Germany, the survey team went to the country for field visits.

On-site visit

This time the survey team visited the dealer 360T in Frankfurt as planned, with the specific address at Grüneburg Weg 16-18 (Westend Carree), 60322 Frankfurt, Germany.   

According to the above address, the surveyors arrived at the destination of this survey. The office of the dealer 360T was located in the center of Frankfurt, which is directly accessible by subway and only a few minutes walk from the subway station. Also, it was a residential area.

The employee at the reception desk told that the visitors were not allowed to enter the building due to the local epidemic. However, he said that all the companies are logged on the directory of lobby and the surveyors can check it themselves.

Further, the surveyors found the name of 360T on both directories in the lobby. Although the surveyors failed to go upstairs to visit the interior of the company, they confirmed that the dealer 360T did exist in the building.

Conclusion

The survey team went to Frankfurt, Germany, to visit the dealer 360T. It was confirmed that the dealer’s office was indeed located at the exhibition address. However, please be prudent when trading with this broker.  

Disclaimer

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