Purpose

The Singapore foreign exchange market is an emerging forex market that developed in the 1970s alongside the rise of the Asian dollar market. As the world's fourth-largest forex trading hub, it attracts participation from numerous international financial institutions and investors due to its advantageous geographical location, stable political environment, robust financial regulatory system, and advanced financial infrastructure. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, an on-site inspection team conducted field visits in Singapore.

Process

The on-site inspection team proceeded as planned to visit the forex broker AEL in Singapore. According to publicly available information, its office address is 111 NORTH BRIDGE ROAD, 16 - 04 PENINSULA PLAZA SINGAPORE 179098.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, traveled to Singapore according to a well-planned schedule. Based on the aforementioned information, they conducted an on-site visit to the dealer AEL.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the dealer claiming to be located at 111 NORTH BRIDGE ROAD,16 - 04 PENINSULA PLAZA SINGAPORE 179098AEL.

The inspection personnel successfully arrived at the target building, which is located in the downtown area of Singapore with a strong commercial atmosphere. However, the building is not particularly luxurious and lacks the grandeur one might expect from a large financial institution's headquarters. No signage or relevant information related to AEL company was found on the exterior of the building.

The surveyor entered the building lobby and, after stating their purpose to the security personnel, obtained permission to enter.

Upon arriving at the target floor, the 16th floor, the field investigator found no visible signage for AEL company. When reaching the supposed office location, it was discovered that another company was operating there, not AEL company. Due to the discrepancy in the actual operating entity, the investigator could not enter the so-called AEL company's premises, nor could they photograph the reception area or its logo. Additionally, the office was not a shared workspace.

Since it is the office scene of another company inside, the internal environment of AEL company and other situations cannot be observed.

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

Conclusion

The on-site investigator visited the forex broker AEL in Singapore as planned. At the publicly displayed business address, no information such as the company name of the broker could be found, indicating that the broker does not have a genuine business 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.