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 Moa as planned according to its regulatory address that Level 14, Tenancy D, 51 Shortland Street, Auckland, 1010, New Zealand.

On September 20, 2023, the investigators came to 51 Shortland Street in Auckland in the North Island of New Zealand, and located a modern high-rise office building featuring a glass façade in the heart of a commercial area in Auckland CBD. The building is named 51 Shortland. With the help of the navigation app Google Map, it is easy to spot the location which is effortlessly accessible via public transport like buses or self-drive vehicles.

After entering the building, the survey personnel spotted a directory in the lobby, where there was no any information relating to company Moa.

Without the security at the entrance of the lift, people could access all the floors freely. And then the survey personnel reached the target floor by the lift, and didnt find any sign of company Moa on level 14. According to the tenants in the same floor, they had never heard of the company.

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

Conclusion

The survey team went to New Zealand to visit forex broker Moa 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.