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 XWGold as planned according to its regulatory address that Room 1006, 10/F, Gold & Silver Commercial Building, 12-18 Mercer Street, Sheung Wan, Hong Kong.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the prominent forex broker XWGold at Gold & Silver Commercial Building in Sheung Wan.

The target property, Gold & Silver Commercial Building, is situated in Sheung Wans financial and commercial district - a bustling area characterized by high pedestrian traffic and vibrant commercial activity. The surrounding streets are lined with dining establishments, retail outlets, and residential buildings, constituting a typical urban commercial hub. The building features modern architectural design with clean exterior surroundings and convenient transportation access, meeting all location requirements for financial enterprises.

Upon arrival, the investigators first examined the buildings exterior. Gold & Silver Commercial Building presents as a high-rise office tower with distinctive glass curtain walls and clearly visible building identification markers.

Investigators successfully accessed the ground floor lobby where an electronic directory was located. Verification confirmed that Unit 1006 on the 10th floor is registered to “Xin Wang Golden Company Limited”, matching all publicly available information exactly. Notably, no other entities sharing this name were found in the building directory, eliminating any potential address confusion.

Upon reaching the 10th floor via elevator, the inspection team noted the absence of floor-level directory signage. Through systematic door number verification, the team ultimately located the subject unit (1006), where exterior signage was observed: a metal plaque mounted beside the entrance clearly displayed XWGold‘s Chinese and English names along with corporate logo. It’s noteworthy that the company logo was exclusively displayed at the office entrance, with no branding present in other building areas (including main lobby or corridors). While building and 10th floor common areas were freely accessible, investigators were not granted access to the companys premises, failing to fully assess their interior conditions.

Through the on-site investigation, it is confirmed that the broker maintains a physical presence at the above address.

Conclusion

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