Purpose

Singapore Foreign Exchange Market is an international forex market that developed in the 1970s. As one of Asia's important financial centers, the Singapore forex market is characterized by active trading and strict regulation. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the team conducted on-site visits in Singapore.

Process

The team visited Singapore as scheduled to conduct an on-site visit to the forex broker Bitrupt. According to public information, its office address is Block 20, Woodlands East Industrial Estate 06 - 30, 738733, Singapore.

A professional and experienced team, driven by a sense of mission to rigorously vet for investors, traveled to Singapore according to a well-planned schedule. Based on the aforementioned information, they conducted an on-site visit to the broker Bitrupt.

The team proceeded to the target area based on the address information to conduct a physical inspection of the broker Bitrupt, which claimed to be located at block 20, woodlands east industrial estate 06 - 30, 738733, Singapore.

The team successfully arrived at the target building, which is an industrial building located in the suburbs of Singapore,  with mainly small companies and warehouses selling industrial products, and not very strong commercial atmosphere. No company signal or related information about Bitrupt was found outside the building.

After entering the building lobby, the team explained their purpose to the security guard and, after communication, they were allowed to enter.

However, no company directory listing of Bitrupt was found inside the building, nor was its LOGO seen.

As the specific floor and location could not be confirmed, the team was unable to reach the target floor. The corresponding office was actually an office selling industrial products, not a financial company. Since it was not the company's office area, the team could not enter the interior, nor could they photograph the reception area of Bitrupt. This office was also not a shared workspace. Through the glass door, the so-called company's internal office environment could not be observed.

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

Conclusion

The team visited the forex broker Bitrupt in Singapore as planned. At its publicly displayed business address, they were unable to see information such as the broker's company name, indicating that the broker does not have a genuine physical business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

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