Reason for this visit

Although Mauritius is not so developed compared with other countries in the world, it is one of the most developed countries in Africa. In recent years, the financial services industry especially has become one of the most significant industries in Mauritius. At the same time, more and more foreign exchange brokers have claimed to be regulated in Mauritius, many of which, however, have been warned as unauthorized counterfeit brokers. Nevertheless, this phenomenon also shows that Mauritius' foreign exchange regulatory license is increasingly trusted by traders and sought after by foreign exchange brokers. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange dealers in Mauritius, the field survey team is going to the country for on-site visits.

On-site visit

This time the survey team went to Mauritius to visit the foreign exchange dealer GemForex as planned. The survey address is 33, Edith Cavell Street, C/o IQ EQ Fund Services (Mauritius) Ltd, Port-Louis, 11324.

According to the above address, the survey personnel came to the destination of this survey - Port Louis, the capital of Mauritius, which is located in the east of Mauritius and is the main port and the administrative, educational and commercial center. The destination is a two-story building called "LES CASCADES" in the Central Business District of Port Louis, owned by IQ EQ - an asset management company with offices around the world. The security guard refused the investigators’ request for internal access, saying that no company other than IQ EQ was operating here.

The investigators searched around the entire building and confirmed that the building was used independently by IQ EQ, so it was determined that the office of the dealer GemForex does not exist here.

Conclusion

The investigators went to Mauritius to visit the foreign exchange dealer GemForex as planned, but did not find the dealer's office at its publicly displayed business address. The dealer may have just registered a company at this address without a real business venue. Please choose this dealer carefully.

Disclaimer

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