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, diverse market participants, and a wide variety of trading instruments. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, an on-site inspection team conducted field visits in Singapore.

Process

The on-site inspection team visited the foreign exchange broker IDG Trading in Singapore as scheduled. According to public information, its office address is Ocean Financial Centre, 10 Collyer Quay, Singapore 049315. 

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

The on-site inspector proceeded to Ocean Financial Centre based on the address information to conduct a physical verification of the dealer IDG Trading who claimed to be located at Ocean Financial Centre, 10 Collyer Quay, Singapore 049315.

The inspection personnel successfully arrived at Ocean Financial Centre, located in a bustling area of Singapore with a clean surrounding environment and a strong commercial atmosphere. It is one of the most luxurious office buildings in Singapore, but no company logo or related information of IDG Trading was found on the exterior of the building.

The surveyor entered the building lobby, explained their purpose to the security personnel, and after communication, obtained entry permission. However, no information related to IDG Trading was found on the directory board inside the building, nor was there any corresponding floor information for the company.

Due to the lack of floor information, the field surveyor was unable to reach the specific floor and confirm its exact location, let alone enter the company's premises. Additionally, they failed to capture photos of the reception area and its logo, and the office in question is not a shared workspace.

Since access to the company's interior was not possible, the internal office environment could not be observed. Overall, the actual situation significantly deviates from expectations, with no clear evidence found of the existence of this trader.

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

Conclusion

The on-site investigator visited the forex broker IDG Trading in Singapore 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 premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

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