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 BESTONFX as planned according to its regulatory address that Flat/Rm A, 12/F, ZJ 300, 300 Lockhart Road, Wan Chai.

Based on publicly available information, the field survey was conducted at Unit A, 12th Floor, ZJ Building, 300 Lockhart Road, Wan Chai, Hong Kong. As one of Hong Kong's core business districts, the area surrounding Lockhart Road is densely populated with a diverse mix of commercial activities. Upon arrival, the investigators observed that the neighborhood hosts numerous financial institutions, trading companies, restaurants, retail outlets, and residential buildings, presenting a vibrant and commercially active environment.

ZJ Building, located at 300 Lockhart Road, is a high-rise commercial tower with a clean façade, blending seamlessly into the surrounding modern architecture—a typical feature of business premises. The building stands prominently along the street with clear exterior signage. However, no branding or advertisements related to “BESTONFX” were found on the exterior, raising initial doubts about the company's presence.

The investigators easily accessed the building lobby, which housed a visitor registration desk and a directory board. Upon checking the directory, Unit A on the 12th floor was listed as “LINKUP SECRETARY LIMITED,” which completely contradicted the target company name “BESTONFX.” This discrepancy became a critical lead in the subsequent investigation.

To gather more comprehensive insights, the investigators proceeded to the 12th floor via elevator. The floor featured an open-plan office layout, with no directional signage or directory in the common hallway. Upon locating Unit A, only the letter “A” was displayed on the door, with no company nameplate, logo, or other identifiers. Through the glass door, the interior showed no signs of employee activity, office equipment, or documents, suggesting the space was vacant.

To rule out potential address errors, the investigators attempted to contact the building's property management office but received no immediate response. Random inquiries with other tenants on the same floor confirmed that none had heard of “BESTONFX” operating there. Additionally, the door lock to Unit A showed no recent usage marks, further supporting the conclusion that the office was unoccupied.

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

Conclusion

The survey team went to Hong Kong, China to visit forex broker BESTONFX 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.