Reason for this visit

Following Malta's accession to the EU in May 2004 and the introduction of the Euro on January 1, 2008, the economy has gradually integrated with the Eurozone economy, which has eliminated exchange rate risks, reduced transaction costs and created a favorable environment for foreign investors. Due to Malta's tight financial regulation, its financial system is less liquid, which has led to the country's investment bias being diversified, with its financial institutions investing mainly in high performing stocks or debt. As a result, Malta is one of the EU countries least affected by the financial crisis.

Malta has a free flow of foreign exchange. This means that foreign exchange can be traded freely and foreign capital can move freely in and out of Malta. Also, foreign companies are free to open foreign currency accounts with banks to deposit foreign currency and can freely remit profits earned in Malta without further special taxes. To help investors or practitioners have a more comprehensive understanding of the forex dealer in Malta, the survey team went to the country for field visits.

On-site visit

This time the survey team visited the dealer FX Brand in Malta, with the specific address at The Plaza Commercial Centre, Level 8, Suite 5, Bisazza Street, Sliema, Malta.

The survey team went to the destination of this survey based on the above address. It was located in the Sliema neighborhood, which was mainly a shopping place and a distribution center for fashion trends. It was an 8-story building with a shopping center on the four floors below and a commercial building on the four floors above. The location of the dealer was really nice, but the surveyors could not find any information about FX Brand on the directory in the lobby.

The surveyors visited the 8th floor of the building but found a company called PIXEL.NET instead of the dealer FX Brand. Then the surveyors asked the security guard who said that the company did not exist here. In the end, the surveyors confirmed that FX Brand did not have an office here.

Conclusion

The survey team went to Malta, to visit the dealer FX Brand 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.