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 the world's fourth-largest forex trading center, it attracts numerous international financial institutions and investors due to its advantageous geographical location, robust financial infrastructure, and open policy environment. 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 forex broker CurrencyFair in Singapore as planned. According to public information, its office address is 15 Beach Road, 2nd Floor, Singapore 189677.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet investments for investors, meticulously planned and traveled to Singapore to conduct an on-site verification of the dealer claiming to be located at 15 Beach Road, 2nd Floor, Singapore 189677CurrencyFair.

The field investigator successfully arrived at the target location, which is situated in a relatively central area of Singapore, with high-end office buildings behind it. However, it is a two-story bungalow in front of the main building. The surrounding environment appears quite bustling, with a strong commercial atmosphere. Nevertheless, no company signage or related information was found on the exterior of the building.

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

Although it was possible to enter the building, the absence of the company's nameplate inside made it impossible to determine its exact location, thus preventing access to the target floor to confirm the specific position.

The field investigator found it impossible to determine whether there were any obvious signs or security measures in the office area of CurrencyFair. Since the location could not be identified at all, they were unable to enter the interior, let alone photograph the reception area and its logo. This office is also not a shared workspace.

Through the public areas inside the building, as it was not possible to enter the so-called company zones. Overall, it is uncertain whether this place aligns with its claimed positioning.

Therefore, after on-site verification, it was confirmed that dealer CurrencyFair does not exist at the above address.

Conclusion

The on-site investigator visited the forex broker CurrencyFair 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 used as the final basis for selection.