Purpose

The Malaysian foreign exchange market is an emerging forex 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 forex trading in Malaysia has become increasingly prominent. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team conducted field visits in Malaysia.

Process

The on-site inspection team visited the forex broker Belfrics Prime in Malaysia as planned. According to public information, its office address is Unit Level 9F(2), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000 F.T.

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 trader Belfrics Prime purportedly located at Unit Level 9F(2), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000 F.T.

The inspection personnel successfully arrived at the Financial Center Building, located in the most central area of Labuan Island, surrounded by a bustling environment and a strong commercial atmosphere. The building is considered very luxurious locally, but no company logos or related information were found on the exterior.

The surveyor entered the first floor of the building and stated their purpose to the security or staff. 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 photography inside the building. The field investigator was unable to reach the target floor, 9F(2), and thus could not confirm whether the company's office area had clear signage or security measures. Due to strict security and other reasons, it was practically impossible to verify the exact location, photograph the front desk or its logo, and the office was not a shared workspace.

Through public areas, the inspector cannot observe the internal environment of the company because entry is not permitted, and it is impossible to determine whether the overall setup aligns with its claimed positioning.

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

Conclusion

The inspection team visited the forex broker Belfrics Prime in Malaysia 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 considered as the final basis for selection.