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Johannesburg, Gauteng, South Africa
Reason for this visit
South Africa is an emerging market country that implements a free floating exchange rate system, and the exchange rate is susceptible to fluctuations due to external factors. The South African foreign exchange market was under strict control in the early stage of its establishment. However, with the gradual relaxation of foreign exchange control, the expansion of foreign exchange space for participants in the real economy and the flexibility of foreign exchange operations, the degree of linkage between domestic and foreign financial markets has also increased. In 2017, the total trading volume of foreign exchange derivatives on the Johannesburg Stock Exchange in South Africa was 67.3 million lots, with a turnover of 900 billion South African rand. At present, the Johannesburg Stock Exchange offers a total of 25 foreign exchange futures and 15 foreign exchange options products. In addition to conventional futures and options contracts, South Africa has also made many innovations in the design of foreign exchange derivatives, such as the development of futures contracts that track a basket of exchange rates, customized futures contracts with optional expiry dates, and dual currency forex futures and options contracts on cross currency pairs. Forex traders in South Africa are among the wealthiest people on the continent, and their rich lifestyle influences aspiring traders. Many people in the country are attracted by the stories of successful people, thus making forex trading even more popular. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange dealers in South Africa, the survey team is going there for on-site visits.
On-site visit
This time the survey team went to South Africa to visit the foreign exchange dealer BlackStone Futures as planned. The survey address is 5th Floor, 11 Cradock Avenue, Rosebank, 2196, South Africa.
The survey personnel came to the destination of the current survey according to the above address. BlackStone Futures is said to have offices in Rosebank, one of Cape Town's southern suburbs, between Mowbray and Roundboise. Cradock Avenue, where the office is located, has residences, office buildings and sports fields. The area around the main road is home to university dormitories, shops and office buildings. The destination building is very modern - the two buildings are connected by a sky corridor and look massive. The survey personnel can enter the building to visit, but the name of the trader cannot be found on the water sign of the building.
The investigators asked the front desk staff for information about the trader BlackStone Futures. According to the receptionist, the dealer moved out three months ago without leaving a new office address. Therefore, the investigators confirmed that the dealer does not have an office here.
Conclusion
The investigators went to South Africa to visit the foreign exchange dealer BlackStone Futures as planned, but did not find the dealer's office at its publicly displayed business address. The dealer may have just registered a company at this address without a real business venue. Please choose this dealer carefully.
Disclaimer
The content is for informational purpose only, and shall not be taken as final order for making choice.
Website:https://blackstonefutures.co.za
Website:https://blackstonefutures.co.za
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