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 Kong’s 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 plans 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 Liquid as planned according to its regulatory address that Suite 2212, 22/F, 3 Lockhart Road, Wan Chai, Hong Kong.

The seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site investigation of the broker Liquid at 3 Lockhart Road in Wan Chai.

Located on Lockhart Road in Wan Chai, a modern high-rise building sits in a typical commercial office district, with its surroundings presenting ordinary Hong Kong business quarter characteristics. While the building’s exterior was clearly visible, no information related to Liquid could be identified on the exterior of the building.

To ensure a comprehensive inspection, the investigators successfully entered the building’s lobby on the ground floor for further verification, where building management exhibited a high level of vigilance. They immediately examined the building directory, a critical step in confirming a company’s presence within the premises. After careful review, no company name associated with “Liquid” was listed on the directory, indicating initial discrepancies. Additionally, the team observed the lobby interior and entrance area but found no signage or logo bearing the name “Liquid.”

 Despite the absence of the target company on the directory, the inspection team proceeded to the registered address—Unit 2212 on the 22nd floor—for thorough verification. They took the elevator to the 22nd floor and meticulously searched the common areas and corridors for any indicators pointing to “Unit 2212” or the company “Liquid.” The results were disappointing: no signage, doorplates, or logos related to Liquid were found in the public areas of this floor. The team located Unit 2212 based on the door number but were unable to enter the unit for confirmation. External observation provided no insight into the interior of Unit 2212. Given the complete absence of any traces related to Liquid on the 22nd floor or at the entrance of Unit 2212, it was concluded that this address is not the actual office location of Liquid.

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

Conclusion

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

Disclaimer

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