Reason for this visit

Belize is an ideal jurisdiction for offshore activities and its legislation is adapted to the needs of investors. However, for most types of activities, a special license must be obtained from the authorities. The license is issued by the country's International Commission, which regulates the whole range of financial services. Thus, despite the various names (foreign exchange trading, trust management, currency exchange, credit operations, financial and advisory services, etc.), the issuance procedure is practically the same. In offshore business, Belize is a very desirable region with an open attitude and a tolerant policy towards all kinds of financial activities. In order to help investors or practitioners get a more comprehensive understanding of the country's foreign exchange dealers, the survey team went to Belize for a site visit.

On-site visit

This time the survey team visited the dealer Fancy Group Ltd in Belize, with the specific address at NO. 5 Cork STreeT, BELIZE CITY, Belize C. A.

Based on the above address, the survey team went to the destination of this survey, a commercial area in Belize City, a port city northeast of Belize in Central America. The destination building was under reconstruction and was not in regular operation. Also, there was no directory nearby. The only thing the surveyors found on the map was that the address was the registered office of another company, Orion Corporate & Trust Services. In the end, the surveyors confirmed that the dealer Fancy Group Ltd did not have any office in this location. It was worth noting that this address was registered by several local dealers.

Conclusion

The survey team went to Belize, to visit the dealer Fancy Group Ltd and found no office at its business address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.

Disclaimer

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