Purpose

The Hong Kong, China foreign exchange market is an international foreign exchange market that developed in the 1970s. It is one of the world's important foreign exchange trading centers, characterized by active trading and strong liquidity. Backed by Mainland China and facing the global market, it holds a unique position and significant influence in the field of foreign exchange trading. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site inspection team went to Hong Kong, China for field visits.

Process

This time, the on-site inspection team went as planned to Hong Kong, China, to conduct a field visit to the forex broker MGF. According to publicly available information, its office address is Unit N1, 15/F, Shield Industrial Centre, No. 84 - 92 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.

A professional and experienced on-site verification team, driven by a sense of mission to rigorously vet for investors, proceeded according to a well-planned schedule to Hong Kong, China, to conduct an on-site verification of the broker MGF which claims to be located at Unit N1, 15/F, Shield Industrial Centre, No. 84 - 92 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong.

The verification personnel successfully arrived at Shield Industrial Centre, located at No. 84 - 92 Chai Wan Kok Street, Tsuen Wan, New Territories, Hong Kong. The surrounding environment is relatively ordinary, with a general commercial atmosphere. No company signage or related information for MGF was found on the exterior of the building.

The verification personnel entered the building lobby and stated their purpose to the security guard. After brief communication, they obtained permission to enter. The directory board inside the building showed information for other companies at this address.

Upon reaching the target floor, the 15th floor, the verification personnel found no prominent signage for MGF in the office area, nor any security measures. As no trace of the company was found, the verification personnel were unable to enter the interior, could not photograph the reception desk, and the office was not a shared workspace.

Through the public areas on the floor, the verification personnel were unable to observe the internal environment of the company. The overall situation could not be assessed as to whether it matched its claimed positioning. No information about this broker was found. Inquiries with security indicated there was no such company, leading to the judgment that it is false.

Therefore, after the on-site verification, it was confirmed that broker MGF does not exist at the aforementioned address.

Conclusion

The on-site inspection team went to Hong Kong, China as planned to conduct a field visit to the forex broker MGF. At its publicly displayed business address, the team was unable to see information such as the broker's company name, 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.