Purpose

The Hong Kong foreign exchange market in China is an international forex market that developed in the 1970s. As one of the global financial centers, the Hong Kong forex market is characterized by active trading, strong liquidity, and strict regulation. With its advantageous geographical location and well-established financial infrastructure, it has attracted numerous international financial institutions and investors. 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 Hong Kong, China.

Process

The on-site inspection team visited the forex broker Beefy Coin Limited in Hong Kong, China as scheduled. According to public information, its office address is ROOM 8, 11/F, WANG FAI INDUSTRIAL BUILDING, 29 LUK HOP STREET, SAN PO KONG, KL HONG KONG.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet investments, meticulously planned and traveled to the Mong Kok district of Hong Kong, China, to conduct an on-site verification of the trader Beefy Coin Limited claiming to be located at ROOM 8, 11/F, WANG FAI INDUSTRIAL BUILDING, 29 LUK HOP STREET, SAN PO KONG, KL HONG KONG.

The inspection personnel successfully arrived at Wong Fai Industrial Building, located at 29 Luk Hop Street, San Po Kong, Kowloon, Hong Kong. The surrounding environment is relatively ordinary, with a general commercial atmosphere. On the directory board inside the building, there was no information about this company.

The surveyor entered the building lobby and explained their purpose to the security personnel. After communication, they obtained permission to enter the building.

Upon arriving at the target floor, the 11th floor, the field investigator discovered that none of the elevators here go to the 11th floor, as this level is not open. After inquiring with security, they were informed that there is no company named Beefy Coin Limited, and this information is false. Since the floor is not open, the investigator could not enter the interior, nor could they take photos of the reception area or its logo. Additionally, the office is not a shared workspace.

Through the closed floor passage, the inspectors were unable to observe the internal environment of the company and other conditions.

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

Conclusion

The on-site inspection team visited the forex broker Beefy Coin Limited at its publicly displayed business address in Hong Kong, China as planned, but did 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 considered as the final basis for selection.