Purpose

The Singapore foreign exchange market is an emerging market that developed in the 1970s. With the continuous rise of Singapore's status as a financial center, its forex market has become one of Asia's important trading hubs, thanks to its efficient trading mechanisms, diverse financial products, and stringent regulatory framework. 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 forex broker Alt-CoinFX in Singapore as scheduled. According to public information, its office address is 2 Shenton Wy, # 08-03 Singapore Exchange Singapore 068804.

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 Alt-CoinFX.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the trader claiming to be located at 2 Shenton Wy, # 08-03 Singapore Exchange Singapore 068804Alt-CoinFX.

The inspection personnel successfully arrived at the target building, which is located in the most central area of Singapore, surrounded by a bustling environment and a strong commercial atmosphere. This is a highly modern office building with a simple yet tech-savvy exterior design, featuring glass curtain walls that shimmer in the sunlight. However, no signage or relevant information about the company was found on the exterior of the building.

The surveyor entered the lobby of the building and explained their purpose to the security personnel. After a brief communication, they were granted entry. The interior of the lobby was luxuriously decorated, with floors polished to a mirror-like shine and crystal chandeliers emitting a soft glow. The security booth and information desk were well-arranged, with staff performing their duties efficiently, maintaining an orderly atmosphere.

Although access to the building lobby was possible, no information regarding Alt-CoinFX was found on the directory board inside the building. Due to the inability to determine the specific floor location, the field investigator could not reach the target floor. Consequently, it was impossible to ascertain whether the company's office area had clear signage or security measures, let alone gain entry. Additionally, it was not possible to photograph the reception desk or its logo, as the office in question is not a shared workspace.

Due to the inability to enter the company premises, it was not possible to observe the internal environment, decoration style, or employee activities. Overall, the on-site inspection experience was limited to arriving at the building, which is located in Singapore's most central business district, but the company's information was not found on the directory board.

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

Conclusion

The inspection team visited the forex broker Alt-CoinFX in Singapore as planned. At the publicly displayed business address, they could not find any information such as the company name of the broker, 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 views are for reference only and should not be considered as the final basis for selection.