Reason for this visit

Seychelles boasts a relatively small scale forex market, with the primary currency rate - US dollar to Seychelles Rupee. In the developing forex market of Seychelles, there are a certain number of brokers providing the local and offshore customers with forex trading and remittance services. In terms of forex regulation, the Central Bank of Seychelles is the prime regulator, requesting the brokers to report the great amount of transaction in line with the international anti-money laundering regulations and standards. Recent years witness an ever-increasing trading volume in forex market of Seychelles, as the tourism and offshore financial industry gain steam. With the development of economy and financial industry and improvement of related regulation, a growing number of global brokers pay attention to the market with potential growth in Seychelles. In an attempt to help investors better understand current forex brokers in Seychelles, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Seychelles to visit forex broker ATG WORLD as planned according to its regulatory address that Office 5, Unit 2, 2nd floor, Dekk Complex, Plaisance, Mahe Seychelles.

On November 24, 2023, the investigators came to Dekk Complex, a modern 4-storey commercial building, in Plaisance of Mahé, the largest island of Seychelles for a visit to the brokers office.

Upon arrival at the building for further investigation, the survey personnel discovered from a directory that both the 1st and the 2nd floor served as a working area, where there wasnt any information pertinent to ATG WORLD such as company name or logo. In the meantime, there was no security guard in the building.

After searching all the units of the building, the inquiry team failed to see the company name nor logo of ATG WORLD.

Through the on-site investigation, it‘s confirmed that the broker doesn’t have a physical presence at the place.

Conclusion

The survey team went to Seychelles to visit forex broker ATG WORLD as scheduled, but didn‘t find the company at its regulatory address. This denotes that the broker doesn’t have a physical business office at the location. Therefore, investors are advised to make a sensible decision following an overall consideration.

Disclaimer

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