Reason for this visit

The German foreign exchange market has a wide range of participants, including both domestic resident entities and overseas non-resident institutions. In terms of categories, it mainly includes domestic and foreign commercial banks, foreign exchange brokers, non-banking institutions and central banks. Among them, transnational corporations and non-bank financial institutions are involved in huge transaction amounts. Small and medium-sized enterprises (SMEs) also participate in foreign exchange trading in order to pay for goods and services, but compared to banks and large speculators, corporate foreign exchange transaction amounts are small. Retail investors and small speculators are the smallest components of the foreign exchange market, and they often participate indirectly in the forex market through banks and brokerage firms. In order to maintain the stability of the financial system and the value of the euro, the European Central Bank (ECB) and the central banks of member states participate in market transactions as ordinary market participants when necessary, guiding and regulating the foreign exchange market. The central banks involved in regulation of the German forex market mainly include the ECB and the German Central Bank. As one of the founding countries of the European Union, Germany's financial supervision has always maintained a strict regulatory environment, and forex supervision is no exception. The Federal Financial Supervisory Authority (BaFin) is an independent federal agency in Germany, responsible for supervising the financial market in the country. It is headquartered in Bonn and Frankfurt and is supervised by the German Federal Ministry of Finance. In order to help investors have better understanding of foreign exchange dealers in Germany, the survey team is going to the country for on-site visits.

On-site visit

This time the survey team went to Frankfurt, Germany to visit the foreign exchange dealer WH SELFINVEST as planned. The survey address is Niedenau 36 60325 FrankFurT DeuTschland.

The survey personnel came to the destination of the current survey according to the above address. The office of the trader WH SELFINVEST is located near the Frankfurt train station, a 10-minute walk away. The office is located in a residential area and is in a residential building. The flow of people is relatively sparse, but the environment is relatively quiet.

The survey personnel found that the door of the building was locked and they needed to swipe the access card to go in, and there was no receptionist in the building.

The investigators found the company name of WH SELFINVEST on the water sign at the entrance of the building. Unfortunately, they couldn't go upstairs to visit the inside of the company, but the trader does exist in this building.

Conclusion

The survey personnel went to Frankfurt, Germany to visit the foreign exchange dealer WH SELFINVEST as planned, and found the dealer's office on its publicly displayed business address, and confirmed that there is a real business venue. Investors are advised to choose the dealer carefully.

Disclaimer

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