Reason for this visit

The international forex market in Hong Kong has been developing since the 1970s. Due to the removal of forex control in Hong Kong since 1973, there has been a large inflow of international capital, and an increasing number of financial institutions operating forex business have mushroomed. The forex market has become more and more active, developing into an international forex market. Hong Kong forex market is an invisible market without a fixed trading venue. Traders conduct forex transactions through various modern communication facilities and computer networks. Hong Kong’s geographical location and time zone conditions are similar to those of Singapore, making it very convenient to trade with other international forex markets. Participants in Hong Kong forex market are mainly commercial banks and financial companies. There are three types of forex brokers in this market: local brokers, whose business is limited to Hong Kong; international brokers who have expanded their business to the Hong Kong forex market since the 1970s; international brokers that grow locally and has expanded their business to forex markets abroad. In an attempt to help investors or practitioners gain a more comprehensive understanding of current status of forex brokers in Hong Kong, WikiFX survey team plans to pay on-site visits to local companies.

On-site visit

In this issue, the survey team went to Hong Kong, China to visit forex broker MFUBO as planned according to its regulatory address that 7/F, Sing Ho Finance Building, 168 Gloucester Road, Wan Chai, Hong Kong.

The seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site investigation of the broker MFUBO in Sing Ho Finance Building at 168 Gloucester Road in Wan Chai.

Sing Ho Finance Building is located in the prosperous financial district of Wan Chai. The surrounding area has a strong commercial atmosphere, with dense pedestrian traffic, typical of a bustling business district, though the overall street environment was ordinary. First, the investigators performed an external observation and photographed the building, which appeared well-maintained, with no visible signage indicating the presence of “MFUBO.”

To ensure a thorough verification, the investigators entered the building lobby for further checks. They accessed the ground-floor lobby of Sing Ho Finance Building, which had a visitor registration desk and a company directory, and then carefully reviewed the directory for the 7th floor, cross-checking all listed companies. After repeated verification, no company named “MFUBO” or any potentially related names were found on the directory. Additionally, the team checked the lobby walls, pillars, and other prominent areas but found no logos, signage, or promotional materials related to “MFUBO.”

For a more comprehensive understanding of the actual situation, the inspection team proceeded to investigate the target floor. Despite the absence of relevant information on the directory board, they decided to verify the registered 7th-floor location for thoroughness, and took the elevator to the 7th floor.

Upon arrival, they meticulously examined the company directory board in the elevator lobby and all office entrance signage along the public corridors. The findings reconfirmed that no doorplates, signage, or nameplates on the 7th floor displayed the name “MFUBO.” With no clearly marked office unit bearing the company’s name, the team was unable to pinpoint its exact premises.

After briefly observing the public area on the 7th floor, they noted no visible business activities or personnel associated with “MFUBO,” nor did they overhear any mention of the company during their stay.

Through the on-site investigation, it is confirmed that the broker does not maintain a physical presence at the above address.

Conclusion

The survey team went to Hong Kong, China to visit forex broker MFUBO as scheduled but did not find the company at its regulatory address. It indicates that the broker does not have a physical office at the place. Accordingly, investors are advised to make a well-considered decision following much deliberation.

Disclaimer

The content is for informational purposes only and shall not be taken as a final order for making a choice.