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 KUT as planned according to its regulatory address that Flat D, 1606 Eton Building, 266 Des Vouex Road Central, Hong Kong.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker KUT at 266 Des Vouex Road Central in Sheung Wan.

On July 9, 2025, the investigators visited 266 Des Voeux Road Central in Hong Kongs core area—the Eton Building—to conduct an on-site verification of KUT based on registered information, encountering multiple inconsistences during the process.

Upon arrival, the inspection team noted that the Eton Building was a commercial property with visible signs of aging and an outdated architectural style. Upon reaching the target address, “266 Des Voeux Road Central,” they found no signage indicating “Unit 1606D” or any markings related to “KUT” on the exterior of the building. There were also no clear directional signs at the main entrance.

To ensure a thorough inspection, the survey team proceeded to explore the interior of the building but encountered unusual access conditions. Since the main entrance lacked clear signage directing them to the target floor, they opted to enter through a side staircase. The stairwell was narrow, dimly lit, and lacked the professional atmosphere typically found in modern commercial buildings.

After ascending to the second floor via the stairs, they entered a relatively simple lobby. A careful review of the company directory displayed in the lobby revealed no mention of “KUT” or any related company name.

For a more comprehensive understanding, the inspection team proceeded to the 16th floor for further investigation. They took the elevator directly to the 16th floor as indicated in the registered address. While the elevator operated normally, there were no property management or tenant identification systems in place inside the elevator or in the common areas. Upon reaching the 16th floor, the team conducted a detailed search. No doorplates labeled “Unit 1606” or “Unit 1606D” were found anywhere on the floor. The floor directory was either missing or incomplete, making it impossible to locate the target unit based on existing signage.

To ensure accuracy, the investigators meticulously checked each unit number on the floor and confirmed that “Unit 1606D” did not exist.

For further verification, the survey team examined the buildings common areas. No logos, nameplates, or directional signs related to “KUT” were found in the 16th-floor corridors, elevator lobbies, or outside any units.

As an additional step, the team attempted to contact the building management office. Staff explicitly stated that no company named “KUT” had ever occupied space on the 16th floor and that there was no such unit designation as “Unit 1606D” on that level. This information directly contradicted the validity of the registered address.

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

Conclusion

The survey team went to Hong Kong, China to visit forex broker KUT as scheduled but did not find the company at its regulatory address. It indicates that the broker does not have a physical office at the place. Accordingly, investors are advised to make a well-considered decision following much deliberation.

Disclaimer

The content is for informational purposes only and shall not be taken as a final order for making a choice.