Reason for this visit

The international forex market in Hong Kong has been developing since the 1970s. Due to the removal of forex control in Hong Kong since 1973, there has been a large inflow of international capital, and an increasing number of financial institutions operating forex business have mushroomed. The forex market has become more and more active, developing into an international forex market. Hong Kong forex market is an invisible market without a fixed trading venue. Traders conduct forex transactions through various modern communication facilities and computer networks. Hong Kongs geographical location and time zone conditions are similar to those of Singapore, making it very convenient to trade with other international forex markets. Participants in Hong Kong forex market are mainly commercial banks and financial companies. There are three types of forex brokers in this market: local brokers, whose business is limited to Hong Kong; international brokers who have expanded their business to the Hong Kong forex market since the 1970s; international brokers that grow locally and has expanded their business to forex markets abroad. In an attempt to help investors or practitioners gain a more comprehensive understanding of current status of forex brokers in Hong Kong, WikiFX survey team determines to pay on-site visits to local companies.

On-site visit

In this issue, the survey team went to Hong Kong, China to visit forex broker Foraxi as planned according to its regulatory address that Room 409, Beverley Commercial Centre, Tsim Sha Tsui, Kowloon, Hong Kong.

On July 9, 2025, the seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker Foraxi in Beverley Commercial Centre in Tsim Sha Tsui.

The investigators successfully arrived at Beverley Commercial Centre in Tsim Sha Tsui. This complex serves as a mixed-use commercial property incorporating both retail spaces and office facilities. No visible signage or information related to broker “Foraxi” was identified on the building exterior. To ensure comprehensive verification, the team proceeded to conduct an internal inspection of the premises.

Upon entering the ground floor lobby, investigators observed standard commercial center features with security personnel stationed at the entrance. The lobby area provided visitor access via escalators and elevators. A public directory was immediately noticeable, which the team carefully examined for any listing of “Foraxi”. After thorough cross-checking, the directory showed no entries matching the target company, instead displaying room 409 as registered to a different entity named “Unipro Consulting Ltd.” No Foraxi-branded signage, logos or identifiers were found on any prominent surfaces (walls, columns, etc.) within the common areas.

Despite the absence of directory listings, the team proceeded to the registered address on the 4th floor (Room 409) for confirmation. Using the building‘s vertical transportation systems, investigators reached the designated floor where multiple companies were operating. A systematic corridor-by-corridor examination of office doorplates and company signage was conducted. While a physical room numbered “409” was located, all identifying markers corresponded to an unrelated company, with no evidence of Foraxi’s presence at the registered location.

Through the on-site investigation, it is confirmed that the broker does not maintain a physical presence at the above address.

Conclusion

The survey team went to Hong Kong, China to visit forex broker Foraxi as scheduled but did not find the company at its regulatory address. It indicates that the broker does not have a physical office at the place. Accordingly, investors are advised to make a well-considered decision following much deliberation.

Disclaimer

The content is for informational purposes only and shall not be taken as a final order for making a choice.