Purpose

The foreign exchange market of Hong Kong, China is a mature and internationalized forex market that developed in the 1970s. As an important global offshore financial hub, it has outstanding features such as the free flow of funds, a sound regulatory system, and the gathering of global trading resources, and is a core gathering place for forex trading in the Asia-Pacific region. To help investors or practitioners gain a more comprehensive understanding of forex dealers in the region, the on-site inspection team traveled to Hong Kong, China for a field visit.

Process

In this issue, the on-site inspection team traveled to Hong Kong, China as planned to conduct an on-site visit to forex broker YONG HUA SECURITIES. According to public information, its office address is 116-118 Manning Industrial Building, How Ming Street, Kwun Tong, Kowloon, Hong Kong.

A professional and experienced on-site inspection team, with a sense of mission to strictly vet for investors, traveled to Hong Kong, China according to a thorough plan. They conducted an on-site verification of broker YONG HUA SECURITIES, which claims to be located at Manning Industrial Building, 116-118 How Ming Street, Kwun Tong, Kowloon, Hong Kong.

The team arrived smoothly at Manning Industrial Building. The location is in an industrial building cluster area in Kwun Tong, Kowloon. The surrounding street environment has no supporting facilities related to the corresponding company, and the overall area is a typical old industrial building cluster with a commercial atmosphere leaning toward traditional industry and trade. Outside the building, no signage or related information bearing the words YONG HUA SECURITIES was found at all. The full view of the building could be completely observed; the building exterior is a conventional old-style industrial building design, and no additional brand signboard of the broker was hung.

Entered the ground-floor lobby of the building, stated the purpose to the security guard, and after a brief exchange of information, successfully obtained permission to enter the building.

After going to the target floor, we checked the public areas of the entire floor one by one and found no obvious signage related to YONG HUA SECURITIES's office area at all; the floor directory boards in the building also did not indicate any name information related to the broker. Because no appointment record for the corresponding company was found, we could not enter the company's premises; throughout the process, we did not find the broker's reception area, there was no reception LOGO that could be photographed, and the location was not a shared office either.

After confirmation with on-site staff, there was no business entity operating under the name YONG HUA SECURITIES in the entire building; it was completely impossible to observe the so-called company internal environment, the relevant areas were not open to the public, and the overall on-site situation was completely inconsistent with the business positioning claimed by the broker.

Therefore, after the on-site inspection, it is confirmed that broker YONG HUA SECURITIES does not exist at the above address.

Conclusion

The on-site inspectors went to Hong Kong, China as planned to conduct an on-site visit to the forex broker YONG HUA SECURITIES. At its publicly displayed business address, they were unable to see the company name or other information of the broker. When they asked the on-site security guard, they were also told that there is no such company in the building, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be used as the basis for final selection.