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 Kongs 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 determines 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 SinoRich as planned according to its regulatory address that Room 3310-18, 33/F, 41 Heung Yip Road, Wong Chuk Hang, Hong Kong.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker SinoRich at 41 Heung Yip Road in Wong Chuk Hang.

The investigators followed the provided information to the target commercial building located at 41 Heung Yip Road, Wong Chuk Hang, Hong Kong, to conduct an on-site verification of SinoRich Company. The Wong Chuk Hang area is a developing business district with an average surrounding environment—neither a core bustling area nor a remote and underdeveloped location. The area has moderate foot traffic, with a mix of shops, restaurants, and residential buildings, presenting an overall mid-level commercial atmosphere. The target building is situated within this setting.

The investigators successfully arrived at the building. While they could access the ground-floor lobby, a thorough check revealed that the public directory did not list “SinoRich” or any related name. Subsequently, they took the elevator to the designated 33rd floor. However, no floor directory or directional signage pointing to Unit 3310-18 could be found in the elevator lobby or common areas.

Following the unit number, the investigators located Unit 3310-18. The office door was closed and inaccessible. Through the glass panel on the door, the interior was clearly visible—completely vacated, showing obvious signs of abandonment. No office furniture, equipment, or personnel were present, and there were no signs or labels displaying “SinoRich” inside or outside the door.

Despite the absence of the company name, the inspection team clearly observed a prominent “SR” logo on the interior walls or remaining items through the glass door. This “SR” abbreviation strongly corresponds with the target companys name, “SinoRich,” serving as direct evidence that the address was previously used by SinoRich. Due to the inability to enter, an assessment of the interior decor and scale was not possible. Similarly, since the office was vacant and inaccessible, no photos of the reception area or company logo could be taken. 

The entire on-site visit confirmed that the registered address (Unit 3310-18, 33rd Floor) is currently vacant, indicating that SinoRich has already vacated the premises. The remaining “SR” logo strongly proves that the company once operated at this location. 

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 SinoRich 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.