Reason for this visit

Malaysia boasts a relatively developed forex market, where the forex brokers provide a high level of service. The local forex industry featuring a high concentration is experiencing a revolution under the pressure from financial technology. As the major regulator of forex broker in the country, the Securities Commission Malaysia (SC) has been vigorously enhancing risk management and regulations for customer protection in recent years, requiring brokers to increase their transparency, and strengthening investors education. Recently, plenty of investors have expressed their hope to know more details about the forex brokers in Malaysia. In order to help investors or practitioners to have a more comprehensive understanding of the country's forex brokers, WikiFX survey team plans to go to Malaysia for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Malaysia to visit the forex broker X METAVERSE PRO as planned according to its registered regulatory address that, Menara 2, Boutique Office 1 (Pillar 12), KL Eco City, No 3, Jalan Bangsar, 59200 Kuala Lumpur, 59200 Kuala Lumpur.

On October 10, 2023, the investigators came to Boutique Offices 1, an upscale office building, in KL Eco City of a prime business district in Kuala Lumpur, the capital of Malaysia. The fabulous location boasts convenient transportation, just a few minutes walk from the LRT station. In addition,there are plenty of amenities nearby including the largest shopping mall Midvalley, stores, and restaurants, with a clean surrounding environment with huge crowds of people. This is considered as one of the most prime locations in KL.

The overall security level of the office building is high, and security measures are well established. Registration and checking at the lobby reception on the first floor are required before proceeding to the designated floors and offices. In the lobby, there is a building directory, but no information regarding X METAVERSE PRO is found. According to the information, X METAVERSE PRO's office is located on the MENARA 2.

After completing the registration, the survey personnel arrived at the building by elevator, and saw the company name and brand logo of X METAVERSE PRO at the entrance of the company.

The staff and executives of X METAVERSE PRO welcomed the investigation team, warmly showed the team around the entire office, and introduced in detail their company's business model, the vision, and workflow.

Inside the office there are several meeting rooms, an open office area and a large trading observation hall. There are dozens of cubicles in the open office area, with each cubicle equipped with a monitor for internal traders, which is very professional. In addition, the company has a separate dining and lounge area, which demonstrates the company's professionalism.

Through an on-site investigation, it is confirmed that the company has a physical presence at the place. And the elegant office environment and professional operations and employees indicate that X METAVERSE PRO, a large scale company, operates business normally.

Conclusion

The survey team went to Malaysia to visit forex broker X METAVERSE PRO as scheduled, and paid a special visit to its working place in the office building. This suggests that the broker has a physical business office with an excellent working environment at its registered regulatory address. Meanwhile, investors are advised to make a choice of the broker based on their own need.

Disclaimer

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