Reason for this visit

The forex market in Malta is comparatively small, largely comprised of commercial banks and forex brokers. In recently years, due to the rapid growth of the online gambling industry in Malta, some brokers start to provide forex service for the customers in the sector. Under the stringent regulation in the country, the local forex brokers are required to apply for licenses from the Malta Financial Service Authority (MFSA) and operate business under its supervision. At the same time, the MFSA has been strengthen vigorously the regulation of anti-money laundry and requires brokers to strictly abide by the policy on KYC. In brief, although Malta features a limited scale of forex market, the recent years witness the booming demand for forex trading in the online gambling industry. In order to help investors or practitioners have a more comprehensive understanding of forex brokers in Malta, WikiFX survey team is going to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Malta to visit forex broker Trive as planned according to its regulatory address that Floor 5, The Penthouse, Lifestar, Testaferrata Street, Ta' Xbiex, Xbx1403, Malta.

On September 15, 2023, the investigators came to office building LIFESTAR at Testaferrata Street in a commercial area awash with office blocks.

LIFESTAR is composed of two adjoining buildings, East Tower and West Tower. The regulatory information displays that Trive is located on the 5th floor of the building, whose major reception area situated on the ground floor of the West Tower is linked to the East Tower. And the companys name and logo can be spotted beside the intercom system and mail box outside. According to the receptionist working there, the broker is in the building.

Through an on-side investigation, it is confirmed that the company has a physical presence at the place.

Conclusion

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

Disclaimer

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