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 Kongs 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 determines 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 ECRYPTO FUTURE as planned according to its regulatory address that Suite C, Level 7, World Trust Tower, 50 Stanley Street, Central, Hong Kong.

The seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker ECRYPTO FUTURE in World Trust Tower at 50 Stanley Street, Central.

The building is located on a slope at the edge of Central, surrounded by narrow and congested streets, requiring a long climb up stairs to reach, resulting in poor transportation convenience. The exterior of the building appears aged, with noticeable signs of deterioration on the walls, significantly deviating from the standards of mainstream financial office buildings in Central. The overall architectural style is outdated, lacking signs of commercial maintenance.

The lobby entrance has no security personnel on duty, allowing free entry but preventing access to the office area via turnstiles. The investigators urgently checked the lobby directory but found no listing for “ECRYPTO FUTURE” or any related names. The interior of the building shows no signs of the companys branding, logos, or directional information, and the bulletin boards on the walls also lack any business promotion materials.

To gain a more comprehensive understanding, the inspection team proceeded to the 7th floor. Upon arrival, the doorplate for Unit C was clearly visible, but it corresponded to another unknown company. Multiple knocks went unanswered, and observations through the glass door revealed no lighting, office equipment, or signs of activity inside. The reception area displayed no company logo, and the enclosed layout of the office space made it impossible to estimate the number of workstations or the internal environment. When questioned, employees from other companies on the same floor all stated that they had never heard of the existence of ECRYPTO FUTURE.

 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 ECRYPTO FUTURE 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.