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 issue's field research team traveled to Belarus as planned to conduct an on-site visit to the forex broker First BO. Publicly available information lists its office address as: Republic of Belarus, Minsk, Umanskaya 54, room 168, room 4, UNP 193166611.

Dedicated to ensuring stringent scrutiny for investors, the professional and experienced field research team carefully planned a trip to Minsk, where the target address is located. Based on publicly available information, they conducted a comprehensive on-site inspection of First BO, striving to establish the broker's true operations through meticulous on-site observation and verification.

Based on the address information, the field research team traveled to 54 Umanskaya Street in Minsk. Upon arrival, they first surveyed the surrounding area and discovered that the area corresponding to the address lacked a clear corporate campus, and the overall streetscape lacked the basic conditions expected of a normal office space. The field research team then completed panoramic photography of the building, documenting its exterior. However, no First BO-related signage was found inside or outside the building.

The surveyors attempted to enter the building lobby for further verification, but were unable to do so due to site conditions. Despite repeated observations from the outside, no company signs displaying the company's information were found, and First BO's registration information could not be found. Regarding the specific rooms and floors mentioned in the public information, such as Room 168 and Room 4, the surveyors were unable to reach the specific floors and confirm the alleged office location due to lack of access and the absence of any signage.

During the survey, the surveyors searched the building internally and externally but found no First BO logo, nor any related signage, either inside or outside. They were also unable to photograph the reception desk or its logo. Furthermore, an on-site inspection confirmed no shared office space at the address, but found no evidence that First BO was operating there. Furthermore, as the company's internal office environment could not be confirmed, the surveyors were unable to enter the relevant areas or observe the internal environment. Considering the inconsistency between the address and the information on the on-site inspection form, the absence of any company logo, the inability to identify the floor or room, and the lack of a typical office environment in the surrounding area, the on-site inspection personnel found no valid evidence that First BO had an office at the address.

Therefore, the on-site inspection did not confirm the presence of First BO at the aforementioned address.

Field Survey Summary

The surveyors visited the Forex broker First BO 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.