Purpose

The UK foreign exchange market has gradually evolved through historical development to become one of the globally significant forex markets. It is characterized by large trading volumes, a wide variety of trading instruments, and numerous market participants, holding a pivotal position in international foreign exchange trading. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site inspection team traveled to the UK for field visits.

Process

This period's on-site inspection team went to the United Kingdom as planned to conduct a field visit to the forex broker ProFX. According to public information, its office address is 1 Victoria St, London SW1E 5ND, United Kingdom.

A professional and experienced on-site verification team, driven by a sense of mission to rigorously screen for investors, followed a meticulous plan and traveled to the United Kingdom to conduct a physical verification of the broker ProFX claiming to be located at 1 Victoria St, London SW1E 5ND, United Kingdom.

The verification personnel successfully arrived at the target location, which is adjacent to Westminster. However, the corresponding area was a construction site with no buildings in the vicinity, and there was no commercial atmosphere to speak of. In this area, no signs or information related to the company ProFX were found.

Since the area is a construction site with no building, it was impossible to locate the ground floor or lobby of the building where the target company was supposed to be.

Because there was no building, it was also impossible to reach the target floor, let alone discover whether the office area of ProFX had any prominent signage. Due to objective constraints, the verification personnel could only confirm that the area was not a shared office.

Through this construction site, the verification personnel were unable to observe the environment of the target company, and the overall situation did not align with its claimed positioning of having a physical office address.

Therefore, after the on-site verification, it was confirmed that the broker ProFX does not exist at the aforementioned address.

Conclusion

The on-site inspector visited the forex broker ProFX in the UK as planned. At its publicly displayed business address, no information such as the broker's company name was visible, indicating that the broker does not have a genuine physical 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 used as the final basis for selection.