Purpose

The Turkish foreign exchange market is an emerging market that has been continuously developing in recent years. With the growth of the local economy and the gradual opening of the financial market, foreign exchange trading has been occupying an increasingly important position in Turkey's financial sector. To help investors or practitioners gain a more comprehensive understanding of foreign exchange brokers in this region, the on-site investigation team visited Turkey for field visits.

Process

The on-site inspection team of this issue went to Turkey as planned to visit the forex broker ALB Prime. According to public information, its office address is “Cumhuriyet Mah. Nakiye Elgün Sok. İkbal Apt. Şişli / Istanbul / TURKEY”.

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

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 'Cumhuriyet Mah. Nakiye Elgün Sok. İkbal Apt. Şişli / Istanbul / TURKEY' ALB Prime.

The field investigator successfully arrived at the target building, which is located in a specific area of Istanbul, Turkey. The surrounding environment is difficult to describe conventionally due to the actual non-existence of the company. There is a water sign outside the building, but no logo or relevant information of the company was found.

The field investigator entered the building lobby and stated their purpose to the security guard or staff. After communication, they obtained permission to enter.

However, the company's directory board was not found inside the building either. As it was impossible to confirm the specific floor location of the company within the building, we were unable to reach the specific floor and confirm the exact location.

Since it was informed from the beginning that there was no such company, the on-site inspector could not enter the company's interior, nor could they take photos of the reception area and the logo at the reception. Additionally, this office is not a shared office.

Through areas such as the building lobby, as it was not possible to enter the company's interior, the internal environment of the company could not be observed. Overall, it is judged that the actual situation of the company does not match its claimed positioning.

Therefore, after the on-site inspection, it was confirmed that the dealer ALB Prime does not exist at the aforementioned address.

Conclusion

The on-site investigator went to Turkey as planned to visit the foreign exchange trader ALB Prime. At the publicly displayed business address, no information such as the company name of the trader was seen, indicating that the trader does not have a real business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and viewpoints are for reference only and should not be used as the final basis for decision-making.