Reasons for Field Survey

Turkey's foreign exchange market is highly active, with no foreign exchange controls. Residents can freely hold foreign currency and remit funds in and out without restrictions. In recent years, investor interest in Turkish forex trading has grown, attracting numerous international financial institutions. To help investors accurately understand the actual performance of brokers in the region and mitigate the risks associated with information bias, the field research team conducted a field visit to Turkey.

Field Survey Process

This inspection targeted the brokerage firm Utradefx, whose publicly listed office address is Ahi Evran Cad. No:21 Kat:1 Polaris Plaza Maslak İstanbul / Türkiye (1st Floor, Polaris Plaza, Ahi Evran Cad. No:21, Kat:1, Maslak, Istanbul, Turkey). The inspection team rigorously located and verified the address.

Upon arrival, the inspectors first confirmed the street number was consistent with the publicly available information and successfully located the Polaris Plaza building. The surrounding streets were ordinary. The inspectors were able to capture panoramic views of the building, which exhibited the appearance of a typical commercial office building.

The inspectors then had unobstructed access to the building lobby, where a sign listing resident companies was located. However, repeated searches revealed no mention of Utradefx's name on the sign, nor any information directing the company to an office area on the first floor.

To further verify the situation, the surveyors inquired with the front desk staff in the lobby about whether Utradefx was located on the first floor of the building. The front desk staff categorically stated that the company was not listed in the building's resident business directory and had no record of the company being registered or operating there. The surveyors subsequently attempted to confirm the specific office area on the first floor, but were unable to reach it due to a lack of clear room number instructions and lack of staff assistance. Furthermore, no Utradefx logo was found on the building's exterior walls or in the public areas, and no footage of the company's reception desk or office area was captured.

After verification, although the address and street number matched, the lack of actual record of the company's presence provided no evidence of its actual operations.

Therefore, the survey confirmed that the brokerage firm Utradefx did not exist at the aforementioned address.

Field Survey Summary

The surveyors visited the Utradefx as planned. They could not find the broker's company name and other information at its publicly displayed business place, indicating that the broker does not have a real business location. Investors are advised to consider this information comprehensively before making decisions.

Field Survey Disclaimer

The above content and opinions are for reference only and should not serve as a basis for any final decision.