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 broker Huarong as planned according to its regulatory address that 15/F, China Huarong Tower, 60 Gloucester Road, Wanchai, Hong Kong.

The professional and experienced investigators, driven by a strong sense of responsibility to safeguard investors‘ interests, came to China Huarong Tower at 60 Gloucester Road in Wan Chai, Hong Kong and conducted a thorough and rigorous on-site investigation of the prominent forex broker, Huarong. Strategically located in Wan Chai’s core financial and business district, China Huarong Tower is a modern commercial building with excellent transport links. Meanwhile, there is a wide range of nearby facilities, including financial institutions, restaurants, retail stores, and residential buildings, creating a vibrant commercial environment for businesses.

Upon arriving at the target location—China Huarong Tower—the field investigator observed that the building was undergoing renovation, with its exterior covered by scaffolding, obstructing clear identification of the “China Huarong Tower” signage. However, a Google search confirmed the building as the correct address. Due to heightened security measures during the renovation, the investigator was unable to access the main lobby or verify the companys specific office floor.

Despite the restricted internal access, the building‘s directory in the lobby clearly listed the Huarong’s presence on the 15th floor, displaying its “Corporate Finance Department,” “Securities Business Department,” and “Asset Management Department.” This finding strongly corroborates that the companys offices are indeed located at this address.

Information regarding the company's internal office environment, number of rooms, and workstations could not be obtained due to restricted access. However, this does not affect the verification of the company's physical occupation at the premises.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Hong Kong, China to visit broker Huarong as scheduled, and found the company at its regulatory address. It denotes that the broker has a physical business office at the place. Meanwhile, investors are advised to make a well-considered 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.