Reason for this visit

The international forex market in Hong Kong has been developing since the 1970s. Due to the removal of forex control in Hong Kong since 1973, there has been a large inflow of international capital, and an increasing number of financial institutions operating forex business have mushroomed. The forex market has become more and more active, developing into an international forex market. Hong Kong forex market is an invisible market without a fixed trading venue. Traders conduct forex transactions through various modern communication facilities and computer networks. Hong Kongs geographical location and time zone conditions are similar to those of Singapore, making it very convenient to trade with other international forex markets. Participants in Hong Kong forex market are mainly commercial banks and financial companies. There are three types of forex brokers in this market: local brokers, whose business is limited to Hong Kong; international brokers who have expanded their business to the Hong Kong forex market since the 1970s; international brokers that grow locally and has expanded their business to forex markets abroad. In an attempt to help investors or practitioners gain a more comprehensive understanding of current status of forex brokers in Hong Kong, WikiFX survey team determines to pay on-site visits to local companies.

On-site visit

In this issue, the survey team went to Hong Kong, China to visit broker Fubon Securities as planned according to its regulatory address that Unit 1002, 10/F, Harbour East, 218 Electric Road, North Point, Hong Kong.

The investigators came to 218 Electric Road in North Point of Hong Kong island for an on-site visit to the brokers office, and located the Harbour East, a modern commercial building, on the bustling street. Boasting an exceptional location, the Electric Road is lined with eateries, shopping malls, and entertainment facilities, appealing to a constant stream of people. Additionally, the building is reachable by public transportation, with multiple bus lines and MTR stations in its close vicinity.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which prominently displayed that unit 1002 on the 10th floor was occupied by Fubon Securities.

The inspection team then took the elevator to the 10th floor and discovered the unit 1002 where the company name and logo of Fubon Securities were displayed at the reception. However, people were not permitted to enter without an appointment in advance. Thus, it was not possible to assess the companys operational scale and work environment.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Hong Kong, China to visit broker Fubon Securities as scheduled, and found the company at its regulatory address. It denotes that the broker has a physical business office at the place. Unfortunately, it is not feasible to determine the exact scale of the company due to the inability to enter the office. Accordingly, investors are advised to make an informed decision following a comprehensive consideration.

Disclaimer

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