Reason for this visit

Mauritius is one of the financial centers in Africa, and many Chinese companies choose to conduct overseas business there, such as the African headquarters of Huawei and the African branch of Bank of China, which further promotes the prosperity of the forex trading market. Additionally, the country has trade relations with over 100 countries and regions, largely including France, the United Kingdom, the United States, India, and China, providing a broad market and opportunities for forex trading.

Regarding forex regulation, the Financial Services Commission (FSC) of Mauritius serves as a comprehensive regulatory authority responsible for the overall management of the non-banking financial services sector. Since its inception in 2001, the FSC has operated within a modern and internationally recognized legal framework, which encompasses key regulations such as the Financial Services Act, Securities Act, and Insurance Act. The FSC not only issues licenses for financial services activities but also implements strict supervision, surveillance, and oversight of various activities within the industry to ensure a fair, transparent, and stable market.

The FSC has ambitious and clear development goals, aiming to become an internationally recognized regulatory authority dedicated to promoting Mauritius as a sound and highly competitive financial services center, thereby driving the countrys sustained development. While Mauritius may not be economically prominent on a global scale, it is undoubtedly one of the most developed countries in Africa. The authority and reliability of its forex regulatory licenses are gradually gaining widespread trust and recognition from global traders and forex brokers. In an attempt to provide investors with a genuine understanding of the current situation of forex brokers in Mauritius, WikiFX survey team is determined to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Mauritius to visit forex broker Amega as planned according to its purported regulatory address that 6th floor, Nexteracom Building, Cybercity Ebene, Republic of Mauritius.

The investigators came to Cybercity in Ebene of Mauritius for an on-site visit to the brokers office, and located the Nexteracom Building, a modern commercial structure, in a high technology park, where there was a variety of technology innovation enterprises. Additionally, the park boasts convenient transportation and well-equipped facilities.

Upon arrival at the tower one for further investigation, the survey personnel noticed a directory in the lobby, which prominently displayed that the 6th floor was not occupied by Amega. Then the team took the elevator to the floor but failed to discover the company. According to the security officer on duty, the broker did not operate in the building.

Through the on-site investigation, it is confirmed that the broker does not have a physical presence at the place.

Conclusion

The survey team went to Mauritius to visit forex broker Amega as scheduled, but did not find the company at its purported regulatory address. It denotes that the broker may just register at the address without a physical business office. Accordingly, 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.