Reason for this visit

Despite being in a small scale, New Zealand's forex market is relatively efficient, with gradually declining spreads trading. The comparatively low intraday trading volume in the market is largely made during the London and New York session. Forex brokers in New Zealand are required to be licensed and regulated by the central bank, which demands that brokers should provide adequate risk disclosure and investor education. In recent years, smaller local brokers have faced competitive pressure from foreign brokers, with the rapid development of trading automation and mobile trading. In order to help investors or practitioners have a more comprehensive understanding of the country's forex brokers, WikiFX survey team decides to go to New Zealand for on-site visits to local companies.

On-site visit

In this issue, the survey team went to New Zealand to visit forex broker MATG as planned according to its regulatory address that 15 Customs Street West, Auckland City, Auckland, 1141, New Zealand.

On September 20, 2023, the investigators came to 15 Customs Street West in Auckland in the North Island of New Zealand, and located PwC Tower, a 41-storey office complex and retail development. As the tallest building on completion in New Zealand, the tower is renowned for its modern design and high security.

The regulatory address provided by MATG doesn‘t present any specific room or unit number. After accessing the building for further investigation, the survey personnel spotted a digital directory, where there wasn’t any information concerning MATG. Many world-renowned companies are situated in the tower, including PwC, Jarden, MinterEllisonRuddWatts, Chapman Tripp, DLA Piper, etc. Due to the high security and stringent security system, people werent allowed to go upstairs without an access card or an appointment in advance.

Through an on-site investigation, it is confirmed that MATG doesnt have a physical presence at the place.

Conclusion

The survey team went to New Zealand to visit forex broker MATG as scheduled, and didnt spot the company at its regulatory address. This indicates that the broker may just register at the location without a physical business office. Therefore, investors are advised to make a sensible decision based on a comprehensive consideration.

Disclaimer

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