Reason for this visit

South Africa is an emerging market economy that implements a free floating exchange rate system, and exchange rate is susceptible to fluctuations due to external factors. The South African forex market was under strict regulation in the early stage of its establishment. However, with the gradual relaxation of forex control, the participants in the real economy can utilize forex characterized by high flexibility in a larger scope, and the linkage between domestic and foreign financial markets has become closer. In 2017, the total trading volume of forex derivatives on the Johannesburg Stock Exchange in South Africa hit 67.3 million lots, with a turnover of 900 billion South African rand. At present, the Johannesburg Stock Exchange offers a total of 25 forex futures and 15 forex options products.

In addition to conventional futures and options contracts, South Africa has also made many innovations in the design of forex derivatives, such as the development of futures contracts that track a basket of exchange rates, customized futures contracts with optional expiry dates, and dual currency forex futures and options contracts on cross currency pairs. Forex traders in South Africa are among the wealthiest people on the continent, and their rich lifestyle influences aspiring traders. Many people in the country are fascinated by the stories of successful people, which makes forex trading even more popular. In order to help investors or practitioners gain a more comprehensive understanding of forex brokers in South Africa, 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 South Africa to visit forex broker IsandisoFX as planned according to its regulatory address that 2nd Floor, 201 Beacon Rock, 21 Lighthouse Road, Umhlanga Rocks, 4320.

A seasoned and professional field survey team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker IsandisoFX at 21 Lighthouse Road in Umhlanga Rocks, Gauteng.

The investigators successfully arrived at the designated address in Umhlanga Rocks, Gauteng Province, South Africa, based on the provided information. The target building, Beacon Rock, is a modern office tower located on the bustling Lighthouse Road. The surrounding area is a typical commercial/leisure mixed zone with convenient transportation, high foot traffic, and a relatively vibrant atmosphere. The building exterior is well-maintained, and the overall environment appears clean and professional.

Upon arrival, the investigators first verified the address (201 Beacon Rock) and confirmed its accuracy. However, after carefully inspecting the exterior, no company signage, plaques, or logos related to “IsandisoFX” were found.

To gather more comprehensive information, the investigators proceeded to enter the buildings lobby. Inside, they checked the building directory (floor guide/tenant list) but found no mention of “IsandisoFX”. Similarly, no company logos or directional signs were visible in the lobby area.

The target office is located on the 2nd Floor (201). The investigators reached the floor and identified Unit 201, but again, no doorplates, signage, or logos associated with IsandisoFX were present. Attempts were made to enter the unit for further verification, but access was not granted. As a result, the investigators could not assess the interior (luxury/standard/basic) or observe any actual office setup. Most critically, there was no visible reception desk or internal branding for the company.

Through the on-site investigation, it is confirmed that the broker does not maintain a physical presence in the building.

Conclusion

The survey team went to South Africa to visit forex broker IsandisoFX as scheduled but did not find the company at its regulatory address. It indicates that the broker does not have a physical office at the location. Accordingly, investors are advised to make a judicious decision following much deliberation.

Disclaimer

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