Purpose

The Malaysian foreign exchange market is an emerging forex market that has developed in recent years. With the continuous growth of Malaysia's economy and the gradual opening of its financial markets, the importance of foreign exchange trading in the region has become increasingly prominent. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this area, the inspection team conducted on-site visits in Malaysia.

Process

The on-site inspection team visited the forex broker UTrada in Malaysia as planned. According to public information, its office address is Unit Level 11A Main Office Tower Labuan Financial Park Labuan, Wilayah Persekutuan Labuan, 87000 Malaysia.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Malaysia to conduct an on-site verification of the dealer UTrada reportedly located at Unit Level 11A Main Office Tower Labuan Financial Park Labuan, Wilayah Persekutuan Labuan, 87000 Malaysia.

The inspection personnel successfully arrived at Labuan Financial Park, located in the heart of Labuan Island's financial center, surrounded by a bustling environment and a strong commercial atmosphere. The building is considered very luxurious locally, but no company signage or related information of UTrada was found on the exterior of the building.

The inspector entered the building lobby and, after explaining their purpose to the security guard, was granted entry permission. However, the directory machine in the hallway could only display a few lines at a time and became extremely slow, making it impossible to take photos or stay for an extended period. There were four or five security personnel at the front desk on the first floor, who also prohibited taking photos inside the building.

Due to various restrictions, the field survey personnel were unable to reach the target floor to confirm the specific location of UTrada, nor did they find any obvious signage or security measures in the company's office area. Since access to the interior was not possible, they could not photograph the reception desk or its logo, and the office is not a shared workspace.

Through the lobby area, the on-site inspectors were unable to observe the internal environment of the company, making it impossible to determine whether the overall environment aligns with its claimed positioning.

Therefore, after the on-site inspection, it cannot be confirmed whether the dealer UTrada exists at the above address.

Conclusion

The inspection team visited the foreign exchange broker UTrada in Malaysia as planned. However, no information such as the company name of the broker was found at the publicly displayed business address, raising doubts about whether the broker has a genuine operational presence. Investors are advised to make their choices after careful consideration.

Disclaimer

The above content and views are for reference only and should not be considered as the final basis for decision-making.