Reasons for Field Survey

Leveraging regional financial development, the Belarusian foreign exchange market has gradually established an operating system encompassing diverse institutions, making it a key venue for local investors to participate in foreign exchange transactions. To help investors gain a direct understanding of the true operational status of brokers in the region and mitigate the risks associated with information bias, a field research team conducted a field visit to Belarus.

Field Survey Process

This time, the on-site inspection team traveled to Belarus to conduct an on-site inspection of the forex broker TechFX, as planned. Publicly available information lists its office address as TechFX LLC 223050, MINSK REGION, KOLODISHCHANSKY S/S, AG. KOLODISHCHI ST. MINSKAYA 69A-2, OF 23.

Upholding the responsibility of rigorously verifying the company's business operations for investors, the professional on-site inspection team conducted an on-site inspection of TechFX, based on the previously disclosed address, in accordance with established plans.

 The inspection team then traveled to Kolodishchi District, Minsk Oblast, Belarus, and conducted an on-site inspection of TechFX, which claimed to be located at TechFX LLC 223050, MINSK REGION, KOLODISHCHANSKY S/S, AG. KOLODISHCHI ST. MINSKAYA 69A-2, OF 23. Upon arriving at the address, the surveyors discovered that the area corresponded to no TechFX corporate campus or dedicated office space, nor were there any signs related to the company on the street. They were only able to capture panoramic photos of the building.

Further verification revealed that the address was actually a supermarket, not the office space claimed in public information. The surveyors then entered the building (the supermarket area) and carefully inspected the public areas, such as the lobby, but found no signage identifying TechFX. When they inquired with on-site staff whether TechFX operated there, they categorically denied any knowledge of the company and had no record of its presence.

Unable to confirm the specific floor and office location of TechFX, the surveyors were unable to reach the so-called target floor, and consequently, enter the nonexistent company. Furthermore, no TechFX logo appeared in the building (either inside or outside). Since the company did not exist, the surveyors could neither determine whether it was a shared office nor photograph the reception desk or logo. Furthermore, since no trace of an office was found, the internal office environment, the number of rooms, and the number of workstations were impossible to determine.

Based on the on-site inspection, despite a thorough search, the investigators found no signs of TechFX's business operations and instead confirmed the address to be a supermarket.

Therefore, the on-site inspection confirmed that TechFX did not exist at the aforementioned address and concluded that the brokerage firm did not exist at all, lacking any actual office space.

Field Survey Summary

The surveyors visited the Forex broker TechFX as planned. They could not find the broker's company name and other information at its publicly displayed business place, indicating that the broker does not have a real business location. Investors are advised to consider this information comprehensively before making decisions.

Field Survey Disclaimer

The above content and opinions are for reference only and should not serve as a basis for any final decision.