Purpose

The Singapore foreign exchange market emerged in the 1970s alongside the rise of the Asian dollar market. It is the fourth largest foreign exchange trading center globally, characterized by flexible trading hours, a wide variety of trading instruments, and stringent financial regulations. To assist investors or practitioners in gaining a more comprehensive understanding of forex brokers in this region, the on-site inspection team conducted a field visit to Singapore.

Process

The on-site inspection team, as scheduled, visited the foreign exchange broker STATE STREET in Singapore. According to publicly available information, their office address is 88 Market Street, # 30-00, CapitaSpring, 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. Based on the aforementioned information, they conducted an on-site visit to the broker STATE STREET.

The field investigator proceeded to CapitaSpring based on the address information to conduct an on-site verification of the trader claiming to be located at 88 Market Street, # 30-00, CapitaSpring, Singapore STATE STREET.

The site inspector has successfully arrived at CapitaSpring, located on one of Singapore's busiest streets, surrounded by a vibrant environment and a strong commercial atmosphere. This is a luxurious office building, but no company signage or related information was found on the exterior of the building.

The field investigator entered the building lobby and explained their purpose to the security personnel. After communication, they obtained permission to enter the lobby. On the directory machine in the lobby, no information about the company was found.

Due to the strict security measures in the building, the on-site survey personnel were unable to obtain permission to access the 30th floor, the target level, and thus could not confirm the exact location of the company. The survey personnel were unable to enter the company premises, and they also failed to take photos of the reception area and its logo. The office in question is not a shared workspace.

It is impossible to observe the internal office environment through the glass door because entry is not allowed at all, making it difficult to judge whether the environment aligns with the claimed positioning.

Therefore, after on-site verification, it is confirmed that the dealer STATE STREET does not exist at the aforementioned address.

Conclusion

The on-site investigator visited the forex broker STATE STREET in Singapore as planned. At the publicly displayed business address, no information such as the company name of the broker could be 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 used as the final basis for selection.