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 GongPing as planned according to its regulatory address that Unit D, 8/F, Billion Centre, 1 Wang Kwong Road, Kowloon Bay, Hong Kong.

The professional and experienced investigators, driven by a strong sense of responsibility to safeguard investors interests, came to the Billion Centre at 1 Wang Kwong Road in Kowloon Bay, Hong Kong and conducted a thorough and rigorous on-site investigation of the prominent forex broker, GongPing.

The Billion Centre is located in the prosperous industrial and business district in Kowloon Bay. And the street buzzes with activity, as vehicles flow steadily and pedestrians hurry by, creating a vibrant atmosphere. Shops line both sides, tightly packed together, including quirky stores filled with unique items that draw people in. The enticing aromas from nearby restaurants fill the air—rich scents from Chinese eateries and distinct fragrances from Western bistros catch the attention of passersby. Residential areas are scattered throughout, with clothes hanging on balconies swaying gently in the breeze, reflecting a lively daily life. Nearby, an educational institution resonates with laughter and the sound of students studying, adding a lively energy to the neighborhood.

The survey personnel arrived in front of the Billion Centre, a magnificent modern commercial building. Thanks to their careful preparation and polite and patient communication, they successfully entered the building and reached the designated 8th floor. In the meantime, the lobby directory clearly indicated that unit D on the 8th floor was occupied by “Gong Ping Securities Limited” and “Gong Ping Futures Limited,” which undoubtedly provided clear direction for the inspection work.

Upon reaching the 8th floor, the inspection team discovered that the floor directory prominently displayed the company names of “Gong Ping Securities Limited” and “Gong Ping Futures Limited” at unit D. At the same time, the company name of Gong Ping Securities Limited was visible through the door of the room. Furthermore, the team carefully observed the surroundings, paying attention to every detail, and politely engaged with the employees to further verify relevant information about the company, including its operational situation and business scale.

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 GongPing as scheduled, and found the company at the aforementioned address. It denotes that the broker has a physical business office at the place. Meanwhile, 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.