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 broker CENTRAL as planned according to its regulatory address that Room 1505-1508, Two Exchange Square, 8 Connaught Place, Central, Hong Kong.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the prominent forex broker CENTRAL at Two Exchange Square in Central.

Exchange Square Two is located in the heart of Central Hong Kong‘s core business district, surrounded by dense pedestrian traffic and bustling streets. The area is home to numerous financial institutions, high-end retail stores, and dining facilities, creating a distinctly corporate atmosphere. Upon arrival, the modern exterior of the building stands out, marking it as one of the district’s landmark office towers.

The inspection team entered the building lobby smoothly but noticed that the directory board displayed no listing for “CENTRAL” or any related name. Proceeding to the 15th floor, the target level, they observed that no signage or directional indicators for CENTRAL were present in the hallway or common areas.

According to the address details, the target office space should be Units 1505-1508. However, the investigators found that the glass doors of 1505-1508 were clearly labeled with “CMBC International” and “CMBC Capital Holdings Limited,” with no trace of any branding related to “CENTRAL”.

Upon inquiring with floor cleaning staff and observing tenant movements, it was confirmed that the units had been occupied long-term by the aforementioned companies, with no evidence of CENTRALs presence.

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 CENTRAL 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.