Purpose

The UK foreign exchange market is a long-established and highly developed international foreign exchange market that occupies an important position in global foreign exchange trading. It is characterized by large trading volume, diverse trading instruments, and a wide range of market participants. To help investors or practitioners gain a more comprehensive understanding of UK forex brokers, the on-site inspection team conducted field visits in the UK.

Process

In this on-site inspection, the team visited the UK as planned to conduct an on-site investigation of the forex broker Cloudtrade247. According to publicly available information, its office address is 9 Swallow St, Mayfair, London, W1B 4DE, United Kingdom.

A professional and experienced on-site inspection team, driven by a sense of mission to strictly vet for investors, proceeded according to a well-planned schedule to the target area in the United Kingdom. They conducted a physical verification of the broker Cloudtrade247 that claims to be located at 9 Swallow St, Mayfair, London, W1B 4DE, United Kingdom.

The inspection personnel successfully arrived at the target address. The surrounding area is relatively bustling with a strong commercial atmosphere. They saw that the adjacent building starting with 7 is an office building. However, this address is only a seafood restaurant, with no company offices present. No company signage or related information for the said company was found on the exterior of the building.

The inspection personnel successfully entered the lobby of the adjacent building starting with 7, but no prominent signage for the Cloudtrade247 office area was seen, nor was any information about this broker found. As there was no relevant office area, the inspection personnel could not enter the interior, were unable to photograph the target company's reception area, and this office location was not a shared workspace.

Even through public areas, the internal environment of the company could not be observed. The overall situation does not match its claimed positioning.

Therefore, after the on-site inspection, it was confirmed that broker Cloudtrade247 does not exist at the aforementioned address.

Conclusion

The investigator visited the forex broker Cloudtrade247 at its publicly displayed business address in the UK as planned, but did not see any information such as the broker's company name at the location, indicating that the broker does not have a genuine business premises. Investors should make their choice after comprehensive consideration.

Disclaimer

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