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 forex broker Spring Gold Market as planned according to its regulatory address that Unit B, 27/F, Billion Plaza 2, 10 Cheung Yue Street, Cheung Sha Wan, Kowloon, Hong Kong.

Situated in the heart of Cheung Sha Wan's industrial and commercial district, the area features heavy pedestrian traffic and a thriving business environment. This well-developed neighborhood combines diverse commercial offerings including restaurants, retail stores, residential buildings and educational institutions, representing a typical bustling urban commercial center. The target building, Billion Plaza 2, appears as a modern commercial complex with excellent maintenance and convenient transportation access.

Upon entering the building lobby, investigators immediately noticed the complete absence of any directory listings or signage indicating “Spring Gold Market.” A review of the building directory revealed the 27th Floor, Room B was registered under the name “Billion Concept Business Centre Limited,” showing significant discrepancy with the target company's name. This initial finding suggests Spring Gold Market likely does not maintain a publicly listed presence at this address.

The investigation team proceeded unimpeded to the 27th floor, where they found clean and orderly corridors and common areas, but still no trace of any identifiers related to Spring Gold Market. Upon reaching Room B, visible signage behind the glass doors clearly displayed “BILLION CONCEPT,” consistent with the building directory information, further eliminating the possibility of Spring Gold Market operating from this location. Notably, the office exterior displayed no branding elements or promotional materials related to precious metals trading.

While investigators gained access to both the building and corresponding floor, entry to the office interior was not permitted. Visual inspection through the glass doors revealed simple interior decor with no visible business activity, and a reception area lacking company logos. It's worth noting that while the space isn't a shared office facility, the mismatch between the actual occupant and registered name suggests potential information discrepancies or unupdated lease changes. To verify these findings, the survey team briefly consulted with the building's property management office, which confirmed that Room B on the 27th floor has been continuously leased to “Billion Concept” for business center services, with no records of “Spring Gold Market” ever occupying the space.

Through the on-site investigation, it is confirmed that Spring Gold Market does not have a physical presence at the above address.

Conclusion

The survey team went to Hong Kong, China to visit forex broker Spring Gold Market as scheduled, but did not find the company at its regulatory address. It indicates that the broker does not have a physical business office at the place. Accordingly, investors are advised to make a judicious decision following much deliberation.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.