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香港特别行政区九龙城区芜湖街99号
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 in 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. The Hong Kong foreign exchange market is an invisible market with no fixed trading venue. Traders conduct foreign exchange transactions through various modern communication facilities and computer networks. Hong Kong's 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 the 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 expanded their business to the Hong Kong foreign exchange market after the 1970s; international brokers that developed in Hong Kong, whose business has expanded to foreign exchange markets abroad. In order to help investors or practitioners to have a more comprehensive understanding of foreign exchange brokers in Hong Kong, the survey team is going to pay on-site visits to local platforms.
On-site visit
In this issue, the investigation team went to Hong Kong, China to visit the foreign exchange broker GSGOLD (licensee: ACU Bullion Limited) as planned according to its regulatory address that 1/F, 88 Bonham Strand, Sheung Wan, Hong Kong.
The survey personnel came to the destination in a developed business area of Sheung Wan on April 15, 2023, where a residential and commercial building is situated, with convenient transportation including MTR and others. On the lower floors are a wide range of stores and business offices, while on the upper floors are residential rooms. And ACU groups name and logo can be seen abundantly outside the building. There are also plenty of shops, restaurants, and residential buildings nearby surrounded by a clean environment with huge crowds of people.
After entering the target building, the survey team found the name and logo of related companies of ACU Bullion from company directory on the 1/F, where ACU Bullion‘s office is located. Meanwhile, the company’s name and logo could be seen abundantly in and outside the room. However, there was no information about broker GSGOLD, including its company name and logo, as well as office address on the same floor.
After an on-site investigation, it is confirmed that GSGOLD doesnt have a physical presence here.
Conclusion
The investigators went to Hong Kong to visit forex broker GSGOLD as scheduled, and didn‘t find the company at its regulatory address, which indicates that it doesn’t have a physical business office here. Therefore, investors are advised to make a sensible choice based on a comprehensive consideration.
Disclaimer
The content is used for informational purpose only, and shall not be taken as a final order for making a choice.
Website:https://www.gsxau.com/
Website:https://www.gsxau.com/
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