Reason for this visit

Seychelles boasts a relatively small scale forex market, with the primary currency rate - US dollar to Seychelles Rupee. In the developing forex market of Seychelles, there are a certain number of brokers providing the local and offshore customers with forex trading and remittance services. In terms of forex regulation, the Central Bank of Seychelles is the prime regulator, requesting the brokers to report the great amount of transaction in line with the international anti-money laundering regulations and standards. Recent years witness an ever-increasing trading volume in forex market of Seychelles, as the tourism and offshore financial industry gain steam. With the development of economy and financial industry and improvement of related regulation, a growing number of global brokers pay attention to the market with potential growth in Seychelles. In an attempt to help investors better understand the current forex brokers in Seychelles, 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 Seychelles to visit forex broker JustMarkets (licensee: Just Global Markets Ltd) as planned according to its regulatory address that Office 10, Floor 2, Vairam Building, Providence Industrial Estate, Providence, Mahe, Seychelles.

On October 25, 2023, the investigators came to “Vairam”, a commercial building, in Providence of Mahe, the largest island of Seychelles. The building is located among multiple construction projects in a normal surrounding environment, making it hard to be spotted.

In the aftermath of accessing the building for further investigation, the survey personnel didnt find security guards and directory inside. The public regulatory information shows that the office of JustMarkets is located in office 10 on the second floor of the building. And then the team arrived at the target floor by the lift and saw the company name of “Just Global Markets Ltd” at the door of office 10.

Based on the on-site investigation, it is confirmed that JustMarkets has a physical presence at the place.

Conclusion

The survey team went to Seychelles to visit forex broker JustMarkets as scheduled, and found the name of the company at its regulatory address. This suggests that the broker has a physical business office at the location. Meanwhile, investors are advised to make an informed decision following an overall consideration.

Disclaimer

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