Purpose

The UK foreign exchange market is one of the globally important forex markets formed over a long historical development. It features flexible trading hours, a massive trading scale, and numerous financial institutions, occupying a key position in global forex trading. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site inspection team visited the UK for a field investigation.

Process

The on-site inspection team planned to visit the forex broker Zaagstock in the UK as scheduled. According to public information, its office address is 10 Paternoster Sq., London EC4M 7LS, United Kingdom.

The professional and experienced site visit team, with a sense of mission to strictly scrutinize for investors, traveled to the UK according to a meticulous plan. They conducted an on-site verification of the broker Zaagstock claiming to be located at 10 Paternoster Sq., London EC4M 7LS, United Kingdom.

The site visit personnel successfully arrived at the target building. The location is in a bustling area of London, with a clean surrounding environment and a strong commercial atmosphere. However, no signage or related information of the company was found outside the building.

The site visit personnel entered the lobby of the building and explained their purpose to the security guard. After a brief communication, they obtained permission to enter.

However, no directory board of the company was found inside the building, nor was the company logo seen. Since the specific floor and location could not be confirmed, the site visit personnel could not reach the target floor.

After arrival, it was confirmed that the address was correct, but no information about the broker was found. Upon inquiry, the security guard stated that the company did not exist, leading to the conclusion that it was false. Since it was impossible to enter the company, photos of the reception and its logo could not be taken, nor was it a shared office. The internal environment could not be observed through the glass door either. The overall situation did not match its claimed positioning.

Therefore, after the site visit, it was confirmed that the broker Zaagstock does not exist at the above address.

Conclusion

Following the plan, the on-site surveyors went to the UK to visit the forex broker Zaagstock. At its publicly displayed business address, they were unable to see the broker's company name or other information, indicating that the broker does not have a real business premises. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not constitute a final basis for selection.