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 BTL as planned according to its regulatory address that 12/F, Chung Nam Building, 1 Lockhart Road, Hong Kong.

According to publicly available information, the target address was identified as 12/F, Chung Nam Building, 1 Lockhart Road, Wan Chai, Hong Kong. The building is located in Wan Chai's core commercial district - a bustling area with heavy pedestrian traffic featuring restaurants, retail shops, residential buildings and educational institutions, characteristic of a prime business location. Chung Nam Building appears as a standard commercial office tower with clean exterior but no prominent signage.

The inspection team successfully entered the building lobby and checked the public directory board. The board listed “Nice Talent Asset Management Limited” as the registered tenant on the 12th floor, which immediately raised concerns as it didn't match the target company BTL.

Upon reaching the 12th floor, the team found no floor directory or directional signage in the common areas. The corridors displayed no information or logos related to BTL.

The target office unit on the 12th floor had no company nameplate or identification marks on its glass door. Visible through the glass were interior wall markings clearly displaying “Nice Talent Asset Management ”, completely inconsistent with BTL's branding.

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

Conclusion

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