Purpose

The Turkish foreign exchange market is an emerging market that has developed in recent years. With the continuous growth of Turkey's economy and the gradual opening of its financial markets, foreign exchange trading has become increasingly active in the region. To help investors or practitioners gain a more comprehensive understanding of foreign exchange brokers in this area, the on-site inspection team conducted a field visit to Turkey.

Process

The on-site inspection team proceeded as planned to visit the forex broker ONS in Turkey. According to publicly available information, its office address is 'Mercan Mahallesi, Çakmakçılar yokuşu sk. No: 31/ 5 Beyazıt, Fatih, İstanbul / Türkiye'.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, traveled to Turkey according to a well-planned itinerary. Based on the aforementioned information, they conducted an on-site visit to the broker ONS.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the traderONS claimed to be located at that address. The investigator compared the address with Google Maps and, upon arrival, found that it was merely a tourist attraction. The surrounding area did not exhibit any commercial atmosphere related to forex trading, which was vastly different from the office environment expected of a forex trader. After a thorough search in the vicinity, no signage or any relevant information of the company was found.

Since this is not a normal office area, there is no so-called building lobby, and the surveyors naturally cannot enter and reach the target floor to confirm the specific location. There are also no obvious signs or security measures for the company's office area. Because there is no company office space at all, the surveyors cannot enter the interior, nor can they take photos of the reception desk and its logo. This address is not a shared office either.

Through the surrounding environment, it can be seen that this place does not match the location claimed by the forex broker at all. Therefore, after on-site verification, it is confirmed that the broker ONS does not exist at the aforementioned address.

Conclusion

The on-site inspector visited the foreign exchange broker ONS in Turkey as planned. At the publicly displayed business address, no information such as the company name of the broker was found, indicating that the broker does not have a genuine business premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be taken as the final basis for decision-making.