Reason for this visit

Given Cambodia's high dependence on foreign exchange reserves, it is inevitably highly open to the investment, with almost zero threshold for the foreign investment. Relying on the the opening-up policy, Cambodia has sustained economic growth, rapid expansion of domestic production capacity, and the corresponding improvement of national infrastructure and financial investment regulations, all of which are conducive to its growth as the next "financial center". Recently, investors have called to ask for more exposure of licensed dealers in Cambodia whose actual addresses are inconsistent with the regulatory addresses. Based on the feedback from investors and the work plan of the survey team, the survey team are going to visit RFC, a licensed dealer in Cambodia, to learn more about the actual situation.

On-site visit

According to the regulatory information, the dealer RFC is licensed by the Cambodian regulator and located at 246 Preah Monivong Bouledbard (93), Sangkat Bueong Raing, Khan Daun Penh, Phnom Penh. The survey team thus decided to have an on-site visit to this regulatory address for confirmation.

The dealer's office was located in a busy area of Phnom Penh, Cambodia. However, its address was not the same as the one shown on the official website. The actual address was No 19, street 392 corner street 71, Beoung Keng Kang I, Khan Chamkarmon, Phnom Penh, Cambodia, which was not far away from the original one. Standing on the street, the surveyors could clearly see the huge logo of the dealer RFC. Due to the epidemic, the staff denied access to the company. In the end, the surveyors failed to enter the company to take pictures.

Conclusion

The survey team went to visit the dealer RFC in Cambodia as planned. The dealer’s logo can be found on the publicly displayed address, indicating that the dealer had a real business place. However, the surveyors failed to enter the company for further visit, so the specific scale of the business remained unknown. Please be prudent when trading with this broker.

Disclaimer

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