Purpose

The Singapore foreign exchange market, which emerged in the 1970s, has rapidly grown into one of Asia's key forex trading hubs due to its strategic geographical location, stable political environment, and advanced financial infrastructure. To help investors and 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 Quitrade in Singapore as planned. According to public information, its office address is Capital Tower, 168 Robinson Road, 068912, Singapore. 

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 dealer Quitrade claiming to be located at Capital Tower, 168 Robinson Road, 068912, Singapore.

The inspection personnel successfully arrived at Capital Tower, located in Singapore's bustling financial district with a vibrant surrounding environment and strong commercial atmosphere. However, no company signage or related information for Quitrade was found on the exterior of the building.

The surveyor entered the building lobby and explained their purpose to the security or staff. After communication, they obtained permission to enter the lobby. However, upon arrival, they found that the directory machine in the building was damaged, and the front desk could not assist in retrieving relevant information, making it impossible to obtain the floor details where Quitrade was located, thus preventing access to the upper floors.

Due to the lack of floor information, the on-site inspector cannot reach the target floor, making it impossible to confirm whether Quitrade has clear signage or security measures in the office area, let alone gain access to the interior. Additionally, they are unable to photograph the reception desk and its logo, and the office is not a shared workspace.

Through the lobby area, as access to the company's interior was not possible, the on-site inspector could not observe the internal environment and other conditions. Overall, it was not possible to confirm whether the environment aligns with the positioning claimed by the trader.

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

Conclusion

The on-site investigator visited the forex broker Quitrade in Singapore as planned, but could not find any information such as the company name at the publicly displayed business address, indicating that the broker does not have a genuine operational 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 selection.