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 Telecom King Securities as planned according to its regulatory address that Unit A, 10/F, YHC Tower, 1 Sheung Yuet Road, Kowloon Bay, Hong Kong.

The investigators came to the YHC Tower at 1 Sheung Yuet Road in Kowloon Bay for an on-site visit to the prominent brokers office. The building is located in the prosperous industrial and business district. With a steady stream of people, the bustling street is lined with a wide range of shops. The enticing aromas from nearby restaurants fill the air, while residential apartment complexes are scattered throughout. All these demonstrate a lively daily life and vibrant business atmosphere.

Upon arriving in front of a magnificent modern commercial building, the survey personnel successfully entered the building and reached the designated 10th floor, thanks to their careful preparation and professional communication ability.

There was a directory in the lobby, which prominently indicated that the 10th floor was occupied by “Telecom King Securities.” It seemed to ignite the hope of finding the target company. However, when reaching the 10th floor, they were surprised to discover that the office was locked and the surrounding environment was so quiet. At the same time, there was a group relocation notice dated September 30, 2024 on the door stating that the company had relocated to a new office address due to business development.

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

Conclusion

The survey team went to Hong Kong, China to visit forex broker Telecom King Securities as scheduled, but did not find the company at the aforementioned address. It suggests that the broker does not have a physical business office at the place. Accordingly, investors are advised to make a sensible 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.