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 Kong’s 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 plans to pay on-site visits to local companies.

On-site visit

In this issue, the survey team went to Hong Kong, China to visit forex broker VitalTrade Global Options as planned according to its regulatory address that Flat/RM A, 12/F, ZJ 300, 300 Lockhart Road, Wan Chai, Hong Kong.

The seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site investigation of the broker VitalTrade Global Options in ZJ 300 at 300 Lockhart Road, Wan Chai.

ZJ 300, a modern high-rise building, is situated in the bustling commercial district of Lockhart Road. The exterior of the commercial building appeared aged, with slightly weathered walls, and the entrance area was crowded with mixed pedestrian traffic. No information related to VitalTrade Global Options was found on the building’s exterior.

To ensure a thorough inspection, the investigators proceeded inside the building and easily accessed the ground-floor lobby, which was cramped and featured outdated facilities. The elevator waiting area showed no signs of proper maintenance. After carefully examining the company directory in the lobby, they found no signs associated with “VitalTrade Global Options.” Additionally, no signage, logos, or any reference to the company was observed in the lobby area (including the entrance, walls, or pillars).

For a more comprehensive assessment, the investigators proceeded to the declared floor (12/F) for further investigation. Upon arriving via elevator, they noted dim lighting and poorly maintained common areas in the hallway. They successfully located Office Unit “A,” but no company nameplates, identifiers, or logos related to VitalTrade Global Options were displayed on the door, doorframe, or nearby areas. The office door was closed, and knocking yielded no response, preventing any attempt to enter or confirm the interior layout, office equipment, staff presence, or reception setup.

To verify the situation, they returned to the lobby and contacted the property management staff. The management personnel explicitly stated that Unit A on the 12th floor was not the actual office location of VitalTrade Global Options.

Through the on-site investigation, it is confirmed that the broker does not maintain a physical presence at the above address.

Conclusion

The survey team went to Hong Kong, China to visit forex broker VitalTrade Global Options as scheduled but did not find the company at its regulatory address. It indicates that the broker does not have a physical office at the place. Accordingly, investors are advised to make a well-considered 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.