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 Goodwill Gold as planned according to its regulatory address that 1/F, The Jade Plaza, Canton Road, Kowloon, Hong Kong.

The seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site investigation of the broker Goodwill Gold in The Jade Plaza on Canton Road in Kowloon.

According to the registration information, the inspection team arrived at The Jade Plaza on Canton Road, a bustling area in Kowloon, to conduct an on-site verification, with the target clearly pointing to “Goodwill Gold” on the 1st floor. As a well-known hub for jewelry and jade trading in Hong Kong, The Jade Plaza exhibits distinct industry characteristics in both its exterior and interior environment. The plaza is a medium-sized commercial building with a typical business complex layout. While not luxurious, it is reasonably maintained, with a clientele primarily consisting of jade traders and buyers, aligning with the atmosphere of a professional trading market. No information related to the brokerage firm “Goodwill Gold” was found on the exterior of the building.

To ensure a thorough inspection, the team proceeded to the 1st-floor lobby. The lobby features public areas and passages leading to various shops. The inspectors first carefully examined the public directory, checking all listed company names one by one, but found no signs regarding “Goodwill Gold” or any similar name. Next, they conducted a detailed sweep of the lobby and its surrounding areas, yet no company logo, signage, or promotional materials bearing the name “Goodwill Gold” were found—whether in the form of hanging signs or posted advertisements. This preliminary finding suggests potential discrepancies in the registered information.

For a more comprehensive assessment, the investigators further explored the floor and conducted a door-to-door check. Since the registered address explicitly indicated the 1st floor, the team carried out a meticulous sweep of the entire level. The 1st floor of The Jade Plaza mainly consists of independent or clustered jade shops, display counters, and small trading firms, arranged in a compact layout. Due to the lack of a specific shop or unit number in the registration details, the survey team had to visually identify and verify each storefront along all public walkways. They scrutinized every shops signage, doorplates, window displays, and front desk identifiers, but no reference to “Goodwill Gold” was found. Most store names followed patterns like “XX Jewelry,” “XX Jade,” or “XX Gallery,” with businesses heavily concentrated in the retail and wholesale trade of jade and gemstones.

To eliminate any possibility of oversight or misinformation, the inspectors made informal inquiries with staff from neighboring shops and the plazas management office, asking whether a company named “Goodwill Gold” had ever operated or been registered there. All responses indicated that no such company had been seen or heard of on the premises.

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 Goodwill Gold 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.