Purpose

The UK foreign exchange market is one of the globally important foreign exchange markets formed through a long historical development process. It is characterized by huge trading volumes, a wide variety of trading products, and numerous market participants, occupying a pivotal position in international foreign exchange trading. In order to help investors or practitioners gain a more comprehensive understanding of the foreign exchange brokers in this region, the fact-finding team went to the UK for an on-site visit.

Process

In this issue, the survey team as planned went to the UK to visit the forex broker Phoenix Capital Trading, according to public information its office address is 20 Fenchurch street, London.

A professional and experienced on-site inspection team, with a sense of mission to rigorously screen for investors, traveled to the UK according to a carefully planned itinerary. They conducted a field verification of the broker Phoenix Capital Trading claimed to be located at 20 Fenchurch Street, London.

The on-site inspectors successfully arrived at the target building, which is located in a bustling area of London with a clean surrounding environment and a strong business atmosphere. However, no company sign or related information of the broker was found outside the building.

The on-site inspectors entered the building lobby and explained their purpose to the security guard. After a brief communication, they obtained permission to enter.

However, inside the building, no directory listing for the broker was found, nor any related logo. Unable to confirm the specific floor and location, the on-site inspectors could not reach the target floor.

From the lobby area, since they could not enter the company's premises, they were unable to observe the internal environment. Upon arrival, they confirmed the address, but found no information about the broker. When asked, the security guard said the company did not exist, leading to the conclusion that it was fraudulent.

Therefore, after the on-site inspection, it was confirmed that the broker Phoenix Capital Trading does not exist at the above address.

Conclusion

The surveyors went to the UK as planned to physically visit the forex broker Phoenix Capital Trading. At its publicly displayed business address, they could not see the broker's company name or other information, indicating that the broker does not have a real business premise. Investors are advised to make a decision after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and should not be used as the basis for final decisions.