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 CENTURY INTL as planned according to its regulatory address that 45/F, Tower One, Times Square, Causeway Bay, Hong Kong.

The investigators came to Times Square Tower One in Causeway Bay for an on-site visit to the broker‘s office. Nestled in the heart of Hong Kong’s thriving business hub, the modern commercial building offers convenient access and attracts a continuous flow of people, with a shopping mall on the ground floor. Furthermore, there is a diverse range of nearby facilities, including stores, restaurants, and residential buildings, all within a vibrant business environment.

Upon arriving at the building for further investigation, the survey personnel spotted a directory in the lobby that displayed that “Golden Century International Holdings Group Limited” was situated on the 45th floor.

The inspection team then took the elevator to the 45th floor, but did not discover any company name on the floor directory. At the same time, the entire floor was undergoing refurbishment, and access to all offices was blocked, which further fueled the teams doubts about CENTURY INTL.

They were not able to enter the offices because of the ongoing internal refurbishment. Therefore, it was not possible to assess the specific situations in the office.

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

Conclusion

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

Disclaimer

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