Purpose

The Singapore foreign exchange market is an international financial center forex market that developed in the 1970s. With its advantageous geographical location, well-established financial infrastructure, and open policy environment, it has become one of Asia's important forex trading hubs. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, an on-site inspection team conducted field visits in Singapore.

Process

The on-site inspection team visited the forex broker BYDigital Asset in Singapore as planned. According to public information, its office address is 3015 Suit pagla road, Singapore.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Singapore to conduct an on-site verification of the dealer BYDigital Asset claiming to be located at 3015 Suit pagla road, Singapore.

During the on-site investigation, the personnel discovered that the address does not exist. Even when reaching areas with similar addresses, no signs related to the trader were found in the surrounding environment, nor was the company present in the commercial atmosphere. In the nearby area, no company logos or relevant information were identified.

Since the address itself does not exist, the surveyor cannot enter the so-called first floor or lobby of the building, let alone explain their purpose to security or staff, register or communicate, or obtain entry permission.

Since the target floor was inaccessible, the inspector could not enter the interior, nor could they photograph the reception area or the logo. Additionally, this address is not a shared office space.

Through the surrounding environment, the on-site inspector did not observe any internal environment related to the company. The overall situation does not match its claimed positioning of having this office address.

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

Conclusion

The on-site investigator visited the forex broker BYDigital Asset in Singapore as planned. No information such as the company name of the broker was found at its publicly displayed business address, indicating that the broker does not have a genuine operational 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 used as the final basis for selection.