Reason for this visit

The international foreign exchange market in Hong Kong has been developing since the 1970s. Due to the removal of foreign exchange control in Hong Kong since 1973, there has been a large inflow of international capital, and an increasing number of financial institutions operating foreign exchange business have mushroomed. The foreign exchange market has become more and more active, developing into an international foreign exchange market. Hong Kong foreign exchange market is an invisible market without a fixed trading venue. Traders conduct foreign exchange 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 foreign exchange markets. Participants in Hong Kong foreign exchange market are mainly commercial banks and financial companies. There are three types of foreign exchange brokers in this market: local brokers, whose business is limited to Hong Kong; international brokers who have expanded their business to the Hong Kong foreign exchange market since the 1970s; international brokers that grow locally and has expanded their business to foreign exchange markets abroad. In an attempt to help investors or practitioners gain a more comprehensive understanding of current foreign exchange 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 to visit broker Open Securities (Open Securities Limited) as planned according to its regulatory address that Suite 3203-3204, 32/F, Tower 6, The Gateway, Harbour City, 9 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong.

The investigators came to The Gateway of Harbour City at 9 Canton Road in Tsim Sha Tsui of Kowloon, Hong Kong for a visit to the broker‘s office on December 7, 2023. With a fabulous location adjacent to bus and ferry terminal, the commercial building is conveniently situated in the prime tourism and commercial district within 8-minute walking distance from Tsim Sha Tsui Station or East Tsim Sha Tsui Station of MTR. Additionally, there’s a steady stream of people on the nearby street in a neat and tidy surrounding environment.

Upon arrival at the building for further investigation, the survey personnel located the renowned shopping mall Harbour City on the ground floor home to the worlds numerous top brand outlets.

And then the inquiry team proceeded to the 32nd floor via the elevator, and discovered from the floor directory that unit 3203–3204 is occupied by “Open Securities Limited”, “Open Asset Management Limited”, and “Open Wealth Management Limited”.

Upon arrival at unit 3203–3204, the company name and logo of Open Securities and its pertinent Group enterprises could be seen conspicuously. Unluckily, its unable to know the actual office size of the company as the team failed to take photos inside the room as a result of the access control system.

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

Conclusion

The survey team went to Hong Kong to visit broker Open Securities as scheduled, and found the companys name at its regulatory address. This denotes that the broker has a physical business office at the place. Meanwhile, 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.