Reasons for Field Survey

Leveraging regional financial development, the Belarusian foreign exchange market has gradually established an operating system encompassing diverse institutions, making it a key venue for local investors to participate in foreign exchange transactions. To help investors gain a direct understanding of the true operational status of brokers in the region and mitigate the risks associated with information bias, a field research team conducted a field visit to Belarus.

Field Survey Process

This time, the on-site inspection team traveled to Belarus to conduct an on-site inspection of the forex broker OpenFX. Publicly available information lists its office address as 220116, 104 Dzerzhinsky Ave., Suite 803B, Minsk, Belarus.

Upholding the responsibility of rigorously verifying the brokerage's business premises, the professional field research team, in accordance with established plans and referencing the publicly available address, conducted an on-site visit to OpenFX to verify the brokerage's actual business location.

The field research team traveled to Minsk, Belarus, and conducted an on-site verification of the OpenFX office, which was stated to be located at 220116, 104 Dzerzhinsky Ave., Suite 803B, Minsk, Belarus. Upon arriving at 104 Dzerzhinsky Ave., the field research team found the surrounding streets to be ordinary, allowing them to successfully capture panoramic photos of the building. However, despite repeated searches within the building and surrounding area, they were unable to locate the address corresponding to Suite 803B and found no company logos or other signage related to OpenFX. Afterward, the surveyors entered the building lobby and carefully examined the company sign inside. 

While it listed several companies, no information about OpenFX was found. To further confirm this, the surveyors asked the front desk staff whether OpenFX was located in room 803B. After reviewing the occupancy records, the staff confirmed that they had no information regarding the company's presence and had never heard of OpenFX.

Although the surveyors took the elevator to the 8th floor, they searched the common areas of the 8th floor and could not find room 803B, nor was there any signage for OpenFX's office. Unable to locate the specific office location, and since the front desk had confirmed that the company was not located, the surveyors were unable to enter the so-called office interior. Furthermore, there was no OpenFX logo displayed either inside or outside the building. The surveyors were unable to determine whether it was a shared office, nor were they able to photograph the reception desk or logo bearing the company's logo. Furthermore, since the company does not actually exist, the internal office environment, number of rooms, and number of workstations cannot be verified.

Based on the on-site inspection results, after multiple rounds of searching the address, consulting with the front desk, and checking the floor numbers, the surveyors were unable to find any trace of OpenFX's business operations, and the front desk staff explicitly denied the company's existence.

Therefore, the on-site inspection confirmed that OpenFX does not exist at the aforementioned address, and concluded that the brokerage is a fictitious entity with no actual office or business location.

Field Survey Summary

The surveyors visited the Forex broker OpenFX as planned. They could not find the broker's company name and other information at its publicly displayed business place, indicating that the broker does not have a real business location. Investors are advised to consider this information comprehensively before making decisions.

Field Survey Disclaimer

The above content and opinions are for reference only and should not serve as a basis for any final decision.