Purpose

The Hong Kong foreign exchange market is an international foreign exchange market that developed after the 1970s. Before the 1970s, the business of the Hong Kong foreign exchange market was mainly the exchange of Hong Kong dollars and British pounds, as well as foreign exchange transactions for trade settlement. Since Hong Kong abolished foreign exchange controls in 1973 and opened the gold market in 1974, the Hong Kong foreign exchange market has developed rapidly. In order to help investors or practitioners better understand foreign exchange dealers in this region, the survey team went to Hong Kong, China for an on-site visit.

Process

This field team planned to visit the forex broker 720FX in Hong Kong, China. According to public information, its office address is Room 2704, 27/F, Tower 1, Admiralty Centre, 18 Harcourt Road, Admiralty, Hong Kong.

A professional and experienced site visit team, with a sense of mission to strictly vet for investors, went to Hong Kong, China according to a meticulous plan. They conducted an on-site verification of the broker 720FX, which claims to be located at Room 2704, 27/F, Tower 1, Admiralty Centre, 18 Harcourt Road, Admiralty, Hong Kong.

The site inspectors arrived at Tower 1, Admiralty Centre, located at 18 Harcourt Road, Admiralty, Hong Kong. The surrounding environment is bustling with a strong commercial atmosphere. However, no company signage or related information about 720FX was found outside the building.

The inspectors entered the lobby of the building and stated their purpose to the security guard. After a brief conversation, they obtained entry permission.

Upon arriving at the target floor (27th floor), the inspectors found that the office area of 720FX had no obvious signage and no special security measures. However, even so, the inspectors were unable to enter the interior. Moreover, due to the inability to enter, they could not take photos of the front desk or its logo, and this is not a shared office.

After arriving, the inspectors confirmed that the address was correct, but found no information about the broker 720FX. After inquiring with the security guard, the guard informed them that there was no such company, thus concluding that it is false. From the public area on the floor, since they could not see the interior, they could not accurately observe the company's internal environment.

Therefore, after the site visit, it was confirmed that broker 720FX does not exist at the above address.

Conclusion

The inspection team went to Hong Kong, China as planned to visit the forex broker 720FX. At its publicly displayed business address, the company name and other information of the broker were not seen, indicating that the broker does not have a real business premises. Please make a decision after comprehensive consideration.

Disclaimer

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