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 BTFX in Malta, with the specific address at 37, Triq George Borg Oliver, ST Julian’s STJ1082, Malta.

Based on the above address, the survey team came to the destination of this survey, an 8-story building. The building had a pleasant environment near the beach, with a large number of restaurants and bars, as well as many small commercial and industrial buildings. The surveyors then entered the building, but there was no receptionist or directory with company nameplate or logo. Move to the office, there was neither any office equipment nor staff inside, nor was there any logo in sight.

The surveyors checked the mailboxes in the building in case they were missed and only found a mailbox for a company called "Trend Media Marketing LTD". And there was no other companies existed. In the end, they confirmed that the dealer BTFX did not have an office in the building.

Conclusion

The survey team went to Malta, to visit the dealer BTFX 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.