Purpose

The Turkish foreign exchange market is an emerging market that has developed rapidly in recent years. With the continuous opening of Turkey's economy and the gradual improvement of its financial markets, foreign exchange trading has become increasingly active in the region. To help investors or practitioners gain a more comprehensive understanding of foreign exchange brokers in the area, the on-site inspection team conducted field visits to Turkey.

Process

The on-site investigation team proceeded as planned to Turkey to visit the forex broker MonoInvest. According to public information, its office address is Kuştepe Mahallesi, Mecidiyeköy Yolu Cd. No:12, 34387, Istanbul, Turkey.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Turkey. Based on the aforementioned information, they conducted an on-site visit to the dealer MonoInvest.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the dealer claimed to be located at Kuştepe Mahallesi, Mecidiyeköy Yolu Cd. No:12, 34387, Istanbul, Turkey MonoInvest.

The on-site inspector successfully arrived at the target building, which is located in a specific area of Istanbul, Turkey. From the actual situation, the surrounding environment does not have the so-called corporate campus atmosphere. However, the overall streets in the vicinity are relatively orderly, and the commercial atmosphere is average. No MonoInvest company logo or related information was found on the exterior of the building. The inspector entered the building lobby, stated their purpose to the security personnel, and successfully obtained permission to enter. However, no directory board of the company was found inside the building.

According to the plan, I was supposed to go to the target floor to confirm the specific location. However, since I did not obtain any guidance information about the company within the building, I was unable to reach the specific floor. Consequently, there was no opportunity to observe whether the MonoInvest office area had any noticeable signs or security measures. Due to the lack of relevant information about the company, I could not enter the company premises, let alone take photos of the reception area and the logo at the front desk. Additionally, this office is not a shared workspace.

Through the lobby area, it is naturally impossible to observe the internal environment of the company. Upon arrival, it was found that there was no information about the company, leading to the conclusion that it was fake. The overall situation does not match its claimed positioning.

Therefore, after the on-site inspection, it has been confirmed that the dealer MonoInvest does not exist at the aforementioned address.

Conclusion

The on-site inspector visited the foreign exchange broker MonoInvest in Turkey as planned. At the publicly displayed business address, the inspector could not find any information such as the company name of the broker, 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 taken as the final basis for decision-making.