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 one of the world's major forex trading hubs, it features flexible trading hours, a diverse range of trading products, and a variety of market participants. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, an on-site inspection team conducted field visits in Singapore.

Process

The on-site inspection team visited the forex broker NXTrades in Singapore as planned. According to public information, its office address is 3015 Suit Pagla Road, Singapore.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Singapore to conduct an on-site verification of the trader NXTrades claiming to be located at 3015 Suit Pagla Road, Singapore.

Upon arrival, the inspector found that the address does not exist. Even after reaching a similar area, no corresponding company was located. There was no sight of the so-called target building or area, making it impossible to observe the surrounding environment and commercial atmosphere. No company signage or related information was found in the vicinity either.

Since the address itself does not exist, the field survey personnel cannot enter the relevant building, and thus are unable to locate the corresponding security or staff to state their purpose, register for communication, or obtain entry permission.

At the same time, it is impossible to reach the target floor, naturally making it impossible to check whether there are obvious signs or security measures in the office area, let alone enter the interior for filming and recording. There is also no situation of shared office space.

Since it is impossible to enter the so-called company at all, it is also impossible to observe the internal operations and other situations of the company.

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

Conclusion

The on-site investigator visited the forex broker NXTrades in Singapore 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 views are for reference only and should not be used as the final basis for selection.