Purpose

The Hong Kong foreign exchange market is an international foreign exchange market that developed since the 1970s. Due to its unique geographical location and financial policies, it has become one of the important foreign exchange trading centers in Asia. Its trading hours can connect the Tokyo and London markets, allowing global foreign exchange trading to proceed 24 hours a day without interruption. In order to help investors or practitioners better understand the foreign exchange dealers in the region, the survey team went to Hong Kong, China for an on-site visit.

Process

This survey team traveled to Hong Kong, China as planned to conduct an on-site visit to the forex broker YOLYD. According to public information, its office address is 18 Luard Road, Wan Chai, Hong Kong, ONE CAPITAL PLACE 7B.

A professional and experienced on-site inspection team, with a sense of mission to strictly vet for investors, followed a meticulous plan and went to Hong Kong, China. Based on the above information, they conducted an on-site visit to broker YOLYD.

The on-site inspectors went to 18 Luard Road, Wan Chai, Hong Kong based on the address information to conduct a field verification of the broker YOLYD claimed to be located there.

The inspectors successfully arrived at ONE CAPITAL PLACE, located on Luard Road, Wan Chai, Hong Kong. The surrounding area is relatively bustling with a strong commercial atmosphere. No company signage or related information for broker YOLYD was found outside the building.

The inspectors entered the building lobby and stated their purpose to the security guard. After a brief conversation, they obtained permission to enter.

Upon arriving at the target floor 7B, the inspectors found no clear signage for YOLYD on that floor. Attempts to contact the company or consult relevant personnel received no effective response. Since the company's existence could not be confirmed, they could not enter the interior, nor could they photograph the reception desk or its logo, and the floor was not a shared office.

Through the glass door, as there was no office area for the company, the interior environment could not be observed. After arriving, it was confirmed that the address was correct, but no information about the broker was found. Inquiring with the security guard revealed that there was no such company, so it was determined to be fraudulent.

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

Conclusion

The site inspectors went to Hong Kong, China as planned to visit the forex broker YOLYD in person. 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 premises. Investors should make their decisions after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and are not the basis for final decision.