Purpose

The Japanese foreign exchange market, which developed after World War II, is an important international forex market characterized by large trading volumes and flexible trading hours. As one of Asia's key financial centers, its forex trading activities are very active. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the survey team visited Japan for an on-site inspection.

Process

This time, the on-site inspection team traveled to Japan as planned to visit forex broker UTForex, according to public information, its office address is 8F Totan Muromachi Building, 4-4-10 Nihonbashi-Muromachi, Chuo-ku, Tokyo 103-0022.

A professional and experienced on-site inspection team, with a sense of mission to strictly vet for investors, went to Japan according to a well-planned itinerary. They conducted an on-site verification of the broker UTForex, which claims to be located at 8F Totan Muromachi Building, 4-4-10 Nihonbashi-Muromachi, Chuo-ku, Tokyo 103-0022.

The inspection personnel arrived smoothly at Totan Muromachi Building. The surrounding area had a strong commercial atmosphere and clean streets. However, no company signage or relevant information for UTForex was found on the exterior of the building.

The inspection personnel entered the building lobby and, after stating their purpose to the security guard, were granted entry permission.

But upon reaching the front desk in the lobby, the front desk staff said they had never heard of the company UTForex, and also showed the list of companies in the building, which did not include the company either. Since it was impossible to confirm the company's specific location in the building, they were unable to reach the target floor.

Because they could not reach the specific floor, it was impossible to determine whether the company's office area had obvious signage or security measures, and they could not enter the company's interior. Naturally, they could not take photos of the front desk or the front desk LOGO. The company is also not a shared office.

Therefore, after the on-site inspection, it was confirmed that the broker UTForex does not exist at the above address.

Conclusion

The on-site inspection team went to Japan as planned to physically visit forex dealer UTForex. At its publicly displayed business address, they could not see the company name or other information of the dealer, indicating that the dealer does not have a real business location. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not constitute final selection basis.