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 TD Markets as planned according to its regulatory address that Floor 12, Green Park Corner, 3 Lower Road, Morningside, Sandton.

The investigators came to 3 Lower Road in Morningside of Sandton, South Africa for an on-site visit to the brokers office, and located the Green Park Corner, a 20-story complex of offices, businesses, and leisure options. At the same time, the iconic skyscraper provides a magnificent city view. Owing to a fabulous location in close proximity to multiple main roads, the building is easily accessible by public transportation including many bus lines. Additionally, there are numerous facilities nearby like eateries, shopping malls, and entertainment options, catering to the diverse needs of people.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which displayed that the 12th floor was utilized by TD Markets. Then they took the elevator to the floor and discovered the companys name and logo at an office, where some staff members were working.

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

Conclusion

The survey team went to South Africa to visit forex broker TD Markets as scheduled, and found the company at its regulatory address. It indicates that the broker has a physical business office at the location. Meanwhile, investors are advised to make a judicious decision following much deliberation.

Disclaimer

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