Purpose

The Singapore foreign exchange market is an emerging forex market that developed in the 1970s alongside the rise of the Asian dollar market. With its advantageous geographical location, stable political environment, and advanced financial infrastructure, Singapore has become one of Asia's key forex trading hubs. 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 Singapore.

Process

The on-site inspection team visited the foreign exchange broker Xtra - Trade in Singapore as scheduled. According to public information, its office address is 3015 Suit pagla road, Singapore.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet investments for investors, meticulously planned and traveled to Singapore to conduct an on-site verification of the dealer Xtra - Trade, which claimed to be located at 3015 Suit pagla road, Singapore.

During the on-site verification process, the investigator found that the address does not exist. Even after arriving at a similar location, no corresponding company could be found. There were no signs or information related to the broker in the vicinity, and the entire area did not exhibit any commercial atmosphere associated with the company's business.

Since the address itself does not exist, the surveyor could not enter the so-called building nor obtain access permission. Naturally, they were unable to reach the target floor to verify the company's office area, let alone photograph the reception desk and its logo. It is also not a shared office space.

Since it is impossible to enter the so-called company premises, it is also impossible to observe the internal environment, decoration style, and employee activities. Overall, the actual situation at this address completely contradicts the positioning claimed by the trader.

Therefore, after on-site verification, it was confirmed that the broker Xtra - Trade does not exist at the above address.

Conclusion

The on-site investigator visited the foreign exchange broker Xtra-Trade in Singapore as planned. At the publicly displayed business address, no information such as the company name of the broker was found, indicating that the broker does not have a genuine business 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 sole basis for final decision-making.