Reason for this visit

Seychelles boasts a relatively small scale forex market, with the primary currency rate - US dollar to Seychelles Rupee. In the developing forex market of Seychelles, there are a certain number of brokers providing the local and offshore customers with forex trading and remittance services. In terms of forex regulation, the Central Bank of Seychelles is the prime regulator, requesting the brokers to report the great amount of transaction in line with the international anti-money laundering regulations and standards. Recent years witness an ever-increasing trading volume in forex market of Seychelles, as the tourism and offshore financial industry gain steam. With the development of economy and financial industry and improvement of related regulation, a growing number of global brokers pay attention to the market with potential growth in Seychelles. In an attempt to help investors better understand current forex brokers in Seychelles, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Seychelles to visit forex broker doto as planned according to its regulatory address that Suite 4D, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

On October 27, 2023, the investigators came to Jivan‘s Complex in Mont Fleuri located in Mahé, the largest island of Seychelles for a visit to the broker’s office. The old commercial building is located in close proximity to numerous pharmaceutical/health centers.

Upon arrival at the building without security guards for further investigation, the survey personnel spotted a directory of Block A, which displayed that suite 4D is occupied by Weybridge Financial Markets Limited. And no specific block number was mentioned from the address. According to both directories of Block A and B, there wasnt any information concerning doto.

Upon searching all related suites, the inquiry team didn‘t discover doto’s company name and logo.

Through the on-site investigation, it‘s confirmed that the broker doesn’t have a physical presence at the place.

Conclusion

The survey team went to Seychelles to visit forex broker doto as scheduled, but didn‘t find the company at its regulatory address. This signifies that the broker doesn’t have a physical business office at the location. Therefore, investors are advised to make a sensible decision following an overall consideration.

Disclaimer

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