Purpose

The UK foreign exchange market is a globally significant market formed through a long-term process of financial development, characterized by its long history, large trading volume, and numerous participants. It holds a pivotal position in international foreign exchange trading, attracting many forex brokers. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site inspection team conducted field visits in the UK.

Process

This on-site verification team visited the forex broker HYCM in the United Kingdom as planned. According to public information, its office address is St Clement’s House, 27 - 28 Clement’s Lane, London EC4N 7AE, United Kingdom.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet investments for investors, traveled to the United Kingdom according to a meticulous plan to conduct an on-site verification of the broker HYCM, which claims to be located at St Clement’s House, 27 - 28 Clement’s Lane, London EC4N 7AE, United Kingdom.

The on-site investigator successfully arrived at the target building, which is located in a specific commercial area of London. The surrounding street environment is relatively quiet, but the commercial atmosphere is average. Upon arrival, it was found that the building appeared to be closed, and no entrance could be located. No signage or any relevant information pertaining to the company was found on the exterior of the building.

The investigator attempted to enter the building, but was unable to obtain entry permission as the building was closed.

Since access to the building was not possible, the target floor could not be reached, and thus it was impossible to determine whether the office area of HYCM had clear signage or security measures. As entry into the building was denied, the on-site inspector could not enter the interior, could not photograph the reception desk or its logo, and the office premises is not a co-working space.

Through the closed building doors, it is impossible to observe the internal environment of the company and other conditions, making it overall impossible to determine whether it aligns with its claimed positioning.

Therefore, after on-site verification, it has been confirmed that broker HYCM does not exist at the above address.

Conclusion

The investigator visited the forex broker HYCM at its publicly displayed business address in the UK as planned. The broker's company name and other information could not be seen at the location, indicating that the broker does not have a genuine physical 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.