Reason for this visit

The international forex market in Hong Kong has been developing since the 1970s. Due to the removal of forex control in Hong Kong since 1973, there has been a large inflow of international capital, and an increasing number of financial institutions operating forex business have mushroomed. The forex market has become more and more active, developing into an international forex market. Hong Kong forex market is an invisible market without a fixed trading venue. Traders conduct forex transactions through various modern communication facilities and computer networks. Hong Kongs geographical location and time zone conditions are similar to those of Singapore, making it very convenient to trade with other international forex markets. Participants in Hong Kong forex market are mainly commercial banks and financial companies. There are three types of forex brokers in this market: local brokers, whose business is limited to Hong Kong; international brokers who have expanded their business to the Hong Kong forex market since the 1970s; international brokers that grow locally and has expanded their business to forex markets abroad. In an attempt to help investors or practitioners gain a more comprehensive understanding of current forex brokers in Hong Kong, WikiFX survey team determines to pay on-site visits to local companies.

On-site visit

In this issue, the survey team went to Hong Kong to visit broker Gold Elephant Limited as planned according to its regulatory address that Suite 1004, 10/F, Podium Plaza, 5 Hanoi Road, Tsim Sha Tsui, Kowloon, Hong Kong.

The investigators came to 5 Hanoi Road in Tsim Sha Tsui of Kowloon, Hong Kong for a visit to the broker‘s office, and located the Podium Plaza, a modern commercial building, in the main lifestyle and business district. Thanks to its fabulous location adjacent to the bustling street, the building is easily accessible via public transportation including the Light Rail. Additionally, there are a large array of facilities nearby such as shops, restaurants, banks, and department stores, appealing to a steady stream of people due to the area’s prosperity. These provide local residents and tourists with various shopping and lifestyle options.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which prominently displayed that suite 1004 was occupied by Gold Elephant Limited.

And then the inspection took the elevator to the 10th floor and discovered that the entire floor was occupied by Gold Elephant Limited. At the same time, the company name and logo could be seen at the door of suite 1004, showcasing the brokers professional image. However, the team failed to take photos in the office.

Through the on-side investigation, it is confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Hong Kong to visit broker Gold Elephant Limited as scheduled, and found the company‘s name at its regulatory address. This denotes that it has a physical business office at the place. Unfortunately, it is not possible to determine the exact size of the broker’s company due to the inability to take pictures in the office. Meanwhile, investors are advised to make an informed decision following a comprehensive consideration.

Disclaimer

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