Purpose

The Singapore foreign exchange market is an emerging forex market that developed in the 1970s alongside the rise of the Asian dollar market. As one of the world's key financial hubs, the Singapore forex market is characterized by active trading, stringent regulation, and a high degree of internationalization. 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 proceeded to Singapore as scheduled to conduct a field visit to the forex broker ProfitCrystal. According to publicly available information, its office address is 80 Raffles Place, UOB Plaza 1, 36th Floor, Singapore 048624.

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 dealer ProfitCrystal.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the dealer claiming to be located at 80 Raffles Place, UOB Plaza 1 36th Floor, Singapore 048624ProfitCrystal.

The on-site inspector successfully arrived at UOB Plaza 1, located in a bustling area of Singapore with a vibrant surrounding environment and strong commercial atmosphere. It is one of the most prestigious business office buildings in Singapore. However, no company signage or related information for ProfitCrystal was found on the exterior of the building.

The surveyor entered the building lobby and stated their purpose to the security or staff. After communication, permission to enter the lobby was obtained. However, no company signage for ProfitCrystal was found inside the building.

Due to the lack of an appointment, the inspection personnel were unable to reach the target floor, the 36th floor, and thus could not confirm the specific location of the company. Additionally, they were unable to enter the company premises, preventing them from photographing the reception area and the logo at the front desk. Furthermore, the office in question is not a shared workspace.

Through the lobby area, the inspectors were unable to observe the internal environment of the company because they were not allowed to enter at all. The overall situation could not be determined to be consistent with its claimed positioning.

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

Conclusion

The on-site investigator visited the foreign exchange dealer ProfitCrystal in Singapore as planned. At the publicly displayed business address, no information such as the company name of the dealer could be found, indicating that the dealer does not have a genuine business 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 considered as the final basis for decision-making.