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 the world's fourth-largest forex trading center, it has attracted numerous international financial institutions to operate here, thanks to its strategic geographical location, advanced financial infrastructure, and open policy environment. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, an on-site inspection team conducted field visits in Singapore.

Process

The on-site inspection team visited the forex broker CIBC in Singapore as scheduled. According to public information, its office address is One Raffles Place #12 - 61 Office Tower 2, Singapore 048616.

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 broker CIBC reportedly located at One Raffles Place #12 - 61 Office Tower 2, Singapore 048616.

The inspection personnel successfully arrived at the target building, which is one of the most luxurious office towers in Singapore, located in a bustling commercial area with a clean and prosperous surrounding environment and a strong business atmosphere. However, no company logo or related information of CIBC was found on the exterior of the building.

The surveyor entered the building lobby, stated their purpose to the security guard, and was granted entry permission.

However, no company signage for CIBC was found inside the building, nor was its logo visible. As the exact floor location could not be confirmed, the inspection personnel were unable to reach the target floor. Consequently, they could not verify whether CIBC's office area had clear signage or security measures, let alone gain access to the interior.

At the same time, the front desk and its logo should not be captured in the footage, and this office area is not a shared workspace.

Through the lobby area, as access to the company's interior is restricted, it is not possible to observe the internal environment, decoration style, or employee activities.

Therefore, after on-site verification, it is confirmed that the broker CIBC does not exist at the above address.

Conclusion

The inspection team visited the forex broker CIBC at its publicly displayed business address in Singapore as planned, but found no 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 opinions are for reference only and should not be taken as the final basis for decision-making.