Purpose

The Malaysian foreign exchange market is an emerging market that has developed in recent years. With the continuous growth of the local economy and the gradual opening of financial markets, the importance of foreign exchange trading in Malaysia has become increasingly prominent. 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 CITY CREDIT in Malaysia as planned. According to public information, its office address is Unit Level 11 (E), Main Office Tower, Financial Park Labuan Complex, Jalan Merdeka, 87000 W.P. 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 CITY CREDIT claiming to be located at Unit Level 11 (E), Main Office Tower, Financial Park Labuan Complex, Jalan Merdeka, 87000 W.P. Labuan Malaysia.

The inspection personnel successfully arrived at the Labuan Financial Park Complex, located in the most central area of Labuan Island, surrounded by a bustling environment and a strong commercial atmosphere. This building is considered very luxurious locally, but no company logo or related information of CITY CREDIT was found on the exterior of the building.

The inspector entered the building lobby and explained their purpose to the security personnel. After communication, they obtained permission to enter.

However, the water dispenser machine in the hallway only displays a few lines at a time and changes very slowly, making it impossible to take photos or linger for long. There are four or five security personnel at the front desk on the first floor, who also prohibit taking photos inside the building. Due to these restrictions, it was impossible to reach the target floor (11th floor), let alone confirm whether CITY CREDIT's office area had clear signage or security measures, or to enter the interior. Additionally, it was not possible to photograph the front desk or its logo, and the office is not a shared workspace.

Due to the inability to enter the company premises, it was not possible to observe the internal environment, decoration style, or employee activities. Therefore, after the on-site inspection, it could not be confirmed whether the dealer CITY CREDIT exists at the aforementioned address.

Conclusion

The inspection team visited the forex broker CITY CREDIT in Malaysia as planned. However, they found no information such as the company name at the publicly displayed business address, indicating that the broker may not have a genuine operational location. Investors are advised to make their choices after careful consideration.

Disclaimer

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