Purpose

The Singapore foreign exchange market is an emerging forex market that developed in the 1970s alongside the rise of the Asian Dollar Market. As one of the world's major forex trading hubs, it features flexible trading hours, a diverse range of trading products, and a varied pool of market participants. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, an on-site inspection team conducted field visits in Singapore.

Process

The on-site inspection team visited the foreign exchange broker Sifuku - Millennium in Singapore as planned. According to public information, its office address is Centennial Business Centre Pte Ltd, Suntec Tower 2, 9 Temasek Boulevard, Singapore 038989.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, traveled to Singapore according to a well-planned schedule. Based on the aforementioned information, they conducted an on-site visit to the broker Sifuku - Millennium.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the broker Sifuku - Millennium, which claimed to be located at Centennial Business Centre Pte Ltd, Suntec Tower 2, 9 Temasek Boulevard, Singapore 038989.

The inspection personnel successfully arrived at Suntec Tower 2, which is located in a landmark area of Singapore with a bustling surrounding environment and a strong commercial atmosphere. No company signage or related information was found on the exterior of the building.

The surveyor entered the building lobby and, after explaining their purpose to the security guard, obtained permission to enter.

However, the company was not listed on the directory inside the building. Due to the lack of guidance information to locate the company's floor, it was impossible to reach the specific floor and confirm its exact location, thus making it unfeasible to determine whether the company's office area had clear signage or security measures. Since access to the specific floor was denied, entry into the company's premises was not possible, and neither the reception desk nor its logo could be photographed. The office space in question is not a shared workspace.

Through the lobby area, as access to the company's interior was not possible, it was not possible to observe the internal environment, decoration style, or employee activities. Overall, no signs of the company's presence at the aforementioned address were found, which is inconsistent with its claimed positioning.

Therefore, after on-site verification, it was confirmed that the trader Sifuku - Millennium does not exist at the above address.

Conclusion

The on-site investigator visited the foreign exchange broker Sifuku - Millennium in Singapore as planned. At the publicly displayed business address, no information such as the company name of the broker was found, indicating that the broker does not have a genuine business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be considered as the final basis for selection.