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 dealers in Hong Kong, the survey team is going there to conduct on-site visits.

On-site visit

In this issue, the investigation team went to Hong Kong, China to visit the foreign exchange dealer JS as planned. The survey address is Room 802, 8/F, Capital Centre, 151 Gloucester Road, Wan Chai, Hong Kong.

The survey personnel came to the destination of the current survey according to the above address. The office of JS is located in Wanchai, the second core area of Hong Kong, where special high-end commercial buildings are gathered, and there are MTR and various public transportation nearby. The surrounding environment is clean and crowded. There are also shops, restaurants, markets, residences and hotels of all trades. The destination is a high-end complex with a shopping mall and a luxury car showroom on the bottom floor. The survey personnel did not find the trader's name on the water sign in the building, so they went upstairs to visit.

The investigators did not find the dealer's office at Room 802 - only the office of “Zhonghui International Futures Company Limited” was there.Besides, the front desk staff said that the dealer JS had never been stationed in the building, so the survey staff confirmed that the dealer's office did not exist there. In addition, it is worth noting that this address is repeatedly registered by multiple foreign exchange dealers.

Conclusion

The investigators went to Hong Kong, China to visit the foreign exchange dealer JS as planned, but did not find the dealer's office at its publicly displayed business address. The dealer may have just registered a company at this address without a real business venue. Please choose this dealer carefully.

Disclaimer

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