Purpose

The Malaysian foreign exchange market is an emerging forex market that has developed in recent years. With the continuous growth of the local economy and the gradual opening of financial markets, the importance of forex trading in Malaysia has become increasingly prominent. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team conducted field visits in Malaysia.

Process

The on-site inspection team visited the forex broker Ngel Partners in Malaysia as planned. According to public information, its office address is Unit B, Lot 49, 1st Floor, Block F, Lazenda Warehouse 3, Jalan Ranca Ranca, F.T. Labuan, Malaysia 87000.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet for investors, meticulously planned and traveled to Malaysia to conduct an on-site verification of the dealer Ngel Partners claimed to be located at the aforementioned address.

The field investigator successfully arrived at the building complex where the address is located. The site is a very small building complex, with no obvious commercial atmosphere in the surrounding area. Upon carefully checking the directory at the staircase entrance on the first floor, no information about the company was found.

Since no company information was found on the directory, the inspector was unable to obtain permission to enter the building and thus could not proceed to the target floor. Naturally, they also failed to take photos of the reception area and its logo. Additionally, the office space was not a shared workspace.

Through the exterior of the building, the inspectors were unable to observe the internal environment of the company and other conditions.

Therefore, after on-site verification, it was confirmed that the dealer Ngel Partners does not exist at the above address.

Conclusion

The on-site investigator visited the forex broker Ngel Partners in Malaysia as planned, but found no information such as the company name at the publicly displayed business address, indicating that the broker does not have a genuine operational premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

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