Purpose

The Singapore foreign exchange market is an emerging market that developed in the 1970s. As one of Asia's important financial centers, the Singapore forex market is characterized by active trading and strict regulation. 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 proceeded to Singapore as scheduled to visit the forex broker VEXXSEL. According to publicly available information, its office address is 150 South Bridge Rd, #06 - 04A Fook Hai Building, Singapore 058727.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, traveled to Singapore according to a well-planned schedule. Based on the aforementioned information, they conducted an on-site visit to the broker VEXXSEL.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the trader claiming to be located at 150 South Bridge Rd, #06 - 04A Fook Hai Building, Singapore 058727.VEXXSEL

The inspection personnel successfully arrived at Fook Hai Building, which is located in a bustling area of Singapore with a lively surrounding environment and a strong commercial atmosphere. However, no company signage or related information for VEXXSEL was found on the exterior of the building.

The on-site inspector entered the building lobby and stated their purpose to the security personnel. After a brief communication, they were granted entry permission.

Upon arriving at the target floor (6th floor), the field investigator found clear company signage on the floor. However, the company name corresponding to the VEXXSEL office area did not match the actual one, and there were no obvious identifiers or security measures for the company. Due to reasons such as the company's nonexistence, the investigator was unable to enter the premises, take photos of the reception area or its logo. The office was not a shared workspace.

Through the common areas of the floor, the inspectors were unable to observe the internal environment of the company. The overall situation does not match its claimed positioning.

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

Conclusion

The on-site inspection team visited the forex broker VEXXSEL in Singapore as planned. At the publicly displayed business address, no information such as the company name of the broker could be 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 opinions are for reference only and should not be considered as the final basis for selection.