Purpose

The UK foreign exchange market is a long-established and highly developed international foreign exchange market that has flourished since the 19th century, leveraging its unique geographical location and advantages of its financial system. As one of the core hubs for global foreign exchange trading, the UK foreign exchange market is characterized by its large trading volume, diverse range of trading instruments, and a wide variety of market participants. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site verification team conducted field visits in the UK.

Process

In this issue, the on-site inspection team went to the United Kingdom as planned to conduct an on-site visit to the forex broker GROWFX. According to publicly available information, its office address is 71 - 75 Shelton Street Covent Garden, London, WC2H 9JQ, United Kingdom.

A professional and experienced on-site verification team, driven by a sense of mission to strictly safeguard investors, traveled to the United Kingdom according to a well-planned schedule. Based on the aforementioned information, they conducted an on-site visit to the broker GROWFX.

The verification personnel went to the target area based on the address information to conduct an on-site verification of the broker GROWFX, which claims to be located at 71 - 75 Shelton Street Covent Garden, London, WC2H 9JQ, United Kingdom.

The verification personnel successfully arrived at the target building, located in Covent Garden, London, with a bustling surrounding environment and a strong commercial atmosphere. However, no company signage or relevant information for GROWFX was found on the exterior of the building.

The team entered the building lobby and explained their purpose to the security guard. However, after a brief communication, they were not granted permission to enter.

Although unable to enter the building, looking inside, no company directory plate for GROWFX was found within the building, nor was its LOGO seen. As they were informed before arriving that this was a virtual office with no physical workspace, the verification personnel could not reach specific floors to confirm its exact location, nor could they enter the company's interior. Furthermore, this office is a shared office.

The company's internal office environment could not be observed through glass doors or other vantage points. The overall situation does not align with its claimed positioning of having a physical office location.

Therefore, after the on-site verification, it is confirmed that the broker GROWFX does not exist at the aforementioned address.

Conclusion

The on-site investigator visited the forex broker GROWFX in the UK as planned. At the publicly displayed business address, no information such as the broker's company name could be seen, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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