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 Traling as planned according to its regulatory address that 262 Main Avenue, Ferndale, Randburg 2194.

A seasoned and professional field survey team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker Traling at 262 Main Avenue in Ferndale, Randburg.

Based on the provided information, the investigators successfully arrived at the target address located at 262 Main Boulevard, Fairdale, Remburg. Upon arrival, they first conducted an external observation. Contrary to expectations of finding a commercial office building, the target structure was a detached, single-story residential-style property situated in a relatively quiet urban area.

However, the investigation encountered critical obstacles. The inspection team meticulously searched for any signage related to “Traling” but found no evidence of the company‘s presence, including any directory listings. More significantly, when attempting to access the interior office space to verify Traling’s existence, the investigators were explicitly denied entry by the property owner. The owner stated that the building served private/other purposes, functioned as a highly confidential facility, and was definitively unrelated to “Traling” brokerage firm. Consequently, the owner prohibited the investigators from taking any photographs inside the premises.

Through communication with the property owner and on-site observations, the investigators confirmed that no brokerage firm named “Traling” operated at this address, and its current usage bore no connection to the target company.

Conclusion

The survey team went to South Africa to visit forex broker Traling 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.