Purpose

The Malaysian foreign exchange market has developed into a relatively dynamic market in recent years. With the continuous growth of the local economy and the gradual opening of the financial market, forex trading has become increasingly important in Malaysia's financial sector. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, an on-site inspection team conducted field visits in Malaysia.

Process

The on-site inspection team visited the forex broker TradeUltra in Malaysia as planned. According to public information, its office address is Office 11, Jamie Business Centre 1, Unit F10, 1st Floor Paragon Labuan Jalan Tun Mustapha, 87000 F.T. Labuan, Malaysia.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Malaysia to conduct an on-site verification of the dealer TradeUltra claiming to be located at the aforementioned address.

The inspection personnel successfully arrived at the target building, which is actually a serviced apartment located on Jalan Tun Mustapha. The surrounding environment does not present a typical bustling commercial scene, and the business atmosphere is average. No company logo or related information of TradeUltra was found on the exterior of the building.

The surveyor entered the building lobby and, after explaining their purpose to the security personnel, successfully obtained entry permission. However, upon entering the building, they did not find the company nameplate of TradeUltra inside.

The original plan was to go to the target floor, but due to the lack of any guidance information about the company in the building, we ultimately failed to reach the specific floor and confirm the exact location. Naturally, we couldn't enter the company's interior, let alone take photos of the reception area and its logo. Additionally, the office space was not a shared workspace.

Through the public areas of the building, it was not possible to enter the company's interior, so the internal office environment and other conditions could not be observed. Overall, although there are some companies and shared offices on the second floor of this serviced apartment, no information about TradeUltra was found, which is inconsistent with the office address claimed by the broker.

Therefore, after on-site verification, it is confirmed that the dealer TradeUltra does not exist at the above address.

Conclusion

As planned, the field investigator visited the forex broker TradeUltra in Malaysia. However, no information such as the company name of the broker was found at its publicly displayed business address, indicating that the broker does not have a genuine operational premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

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