Reason for this visit

The Hong Kong foreign exchange market is an international market developed after the 1970s. Since the removal of foreign exchange control in Hong Kong in 1973, there has been a large inflow of international capital and the number of financial institutions operating foreign exchange business has continued to increase. The foreign exchange market has become more and more active, and it has developed into an international foreign exchange market. The Hong Kong foreign exchange market is an invisible market with no fixed trading venue. Traders conduct foreign exchange transactions through various modern communication facilities and computer networks. Hong Kong's geographical location and time zone conditions are similar to those of Singapore, making it very convenient to trade with other international foreign exchange markets. Participants in the Hong Kong foreign exchange market are mainly commercial banks and financial companies. There are three types of foreign exchange brokers in this market: local brokers, whose business is limited to Hong Kong; international brokers, who expanded their business to the Hong Kong foreign exchange market after the 1970s; international brokers that developed in Hong Kong, whose business has expanded to foreign exchange markets abroad. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange brokers in Hong Kong, WikiFX survey team is going to pay on-site visits to the local companies.

On-site visit

In this issue, the survey team went to Hong Kong, China to visit the foreign exchange broker Valuable Capital (licensee: Valuable Capital Limited) as planned according to its regulatory address that Unit 2808, 28/F, Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong.

The survey personnel came to the destination in a developed business area of Sheung Wan on June 17, 2023, where Shun Tak Centre China Merchants Tower, an upscale commercial building, is situated atop Sheung Wan Station (Exit D), with convenient transportation due to MTR and several transport hubs. It has covered link to elevated pedestrian walkway system making it very convenient in accessing everywhere in Sheung Wan for working and shopping. On the ground floor lie the Hong Kong - Macau Ferry Terminal and Shopping Mall. There are also plenty of shops, restaurants, residential buildings, and department stores nearby, which are surrounded by a clean environment with huge crowds of people.

After entering the building, the investigators found from company directory that room 2808 was occupied by the “Valuable Capital Limited” in the aftermath of the arrival at the 28th floor. And the company name and logo of Valuable Capital could be seen at the entrance of the room.

Through an on-site investigation, it is confirmed that the company has a physical presence there.

Conclusion

The investigators went to Hong Kong to visit forex broker Valuable Capital as scheduled, and found the companys name at the regulatory address. It indicates that the broker does have a physical business office there. At meantime, investors are advised to make a sensible choice based on a comprehensive consideration.

Disclaimer

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