Purpose

The Malaysian foreign exchange market is an emerging forex market that has developed in recent years. With the continuous growth of the local economy and the gradual opening of financial markets, forex trading has become increasingly active in Malaysia. 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 Malaysia.

Process

The on-site inspection team visited the foreign exchange broker Novamarkets in Malaysia as planned. According to public information, its office address is P.O Box 50470 Qsentral, Jalan Stesen Sentral 2 Kuala Lumpur, Malaysia.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet for investors, meticulously planned and traveled to Malaysia to conduct an on-site verification of the trader Novamarkets claiming to be located at P.O Box 50470 Qsentral, Jalan Stesen Sentral 2 Kuala Lumpur, Malaysia.

The inspector successfully arrived at the target building, which is an ultra-luxury office brand located near the central station, surrounded by a strong commercial atmosphere and offering excellent transportation convenience. However, no signage or relevant information about the company was found on the exterior of the building.

The surveyor entered the building lobby and, after explaining their purpose to the security personnel, obtained entry permission. On the building directory, the surveyor found no information related to this company and could not determine its specific location.

Due to the lack of an appointment, the inspection personnel were unable to access the target floor or enter the interior. Additionally, they could not photograph the reception area or the logo at the front desk. This office is not a shared workspace.

Through the public area of the lobby, the inspectors were unable to observe the internal environment of the company. The overall situation does not align with its claimed positioning of having a genuine office space.

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

Conclusion

The inspection team visited the foreign exchange broker Novamarkets in Malaysia as planned. At the publicly displayed business address, no information such as the company name of the broker was found, indicating that the broker does not have a genuine business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be considered as the final basis for selection.