Purpose

The Hong Kong foreign exchange market is an international foreign exchange market that developed in the 1970s. Before the 1970s, the trading volume of the Hong Kong foreign exchange market was very small, mainly because the Hong Kong authorities implemented foreign exchange controls at that time. After Hong Kong lifted foreign exchange controls in 1973, a large amount of international capital flowed in, financial institutions engaged in foreign exchange business continued to increase, the foreign exchange market became more and more active, and gradually developed into an international foreign exchange market. In order to help investors or practitioners better understand the forex brokers in Hong Kong, the on-site inspection team went to Hong Kong for a field visit.

Process

This time, the survey team went to Hong Kong, China as planned to visit the foreign exchange broker WRXST on site. According to public information, its office address is the entire 16th floor of the Admiralty Centre, 28 Queen's Road East, Wan Chai, Hong Kong.

A professional and experienced site inspection team, with a mission to strictly screen for investors, followed a well-planned itinerary to Hong Kong, China. They conducted an on-site verification of the broker WRXST, which claims to be located on the entire 16th floor of Admiralty Centre, 28 Queen's Road East, Wan Chai, Hong Kong.

The site inspectors arrived at Admiralty Centre smoothly. The location is on Queen's Road East, Wan Chai, Hong Kong, with a bustling environment and strong commercial atmosphere. However, no company logo or related information of WRXST was found outside the building.

The site inspectors entered the building lobby and stated their purpose to the security guard. After communication, they obtained permission to enter.

Upon reaching the target 16th floor, the site inspectors found that the office area of WRXST had no obvious signage and no visible security measures. Since the inspectors did not find any information about the company, they were unable to enter the interior and could not photograph the reception desk or its logo. The office area is not a co-working space.

Through the public area of the floor, the site inspectors were unable to observe the interior scene of the broker. Upon arrival, they confirmed the address but found no information about the broker. When asked, the security guard said there was no such company. It was determined to be fake, and the overall situation does not match its claimed positioning.

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

Conclusion

The on-site inspection team visited the forex broker WRXST in Hong Kong, China as planned. At its publicly displayed business address, they could not see the broker's company name or other information, indicating that the broker does not have a real place of business. Investors should consider this comprehensively before making a decision.

Disclaimer

The above content and opinions are for reference only and do not serve as the basis for final decisions.