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 forex broker Glory Sun as planned according to its regulatory address that Room 1908, 19/F, Tower 2, Lippo Centre, 89 Queensway, Admiralty, Hong Kong.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker Glory Sun at Lippo Centre in Admiralty, Hong Kong.

Tower 2 of Lippo Centre is located in the heart of Hong Kong‘s Admiralty central business district, surrounded by heavy pedestrian traffic and a vibrant commercial atmosphere. The building is neighbored by financial institutions, high-end retail stores, and dining establishments, characteristic of a thriving business hub. Upon arrival, the investigators first observed the building’s exterior, noting the busy foot traffic in the area.

The inspection team then proceeded into the buildings lobby, where the directory board clearly indicated that “Room 1908 is occupied by Glory Sun Financial Group Limited.”

To conduct a thorough verification, the investigators took the elevator to the 19th floor. The floor directory still listed Room 1908 as Glory Sun Financial Group Limited, further confirming the address association. However, when approaching Room 1908, the team found the office door open and the space completely vacated, with no office equipment, furniture, or company signage visible. No residual logos or company name decals remained on the door frame or walls - only the basic structure of an empty room was present.

External observations suggest the premises have been unoccupied for an extended period. Furthermore, no directional signage or indicators related to “Glory Sun Financial” were found elsewhere on the floor, providing additional evidence of the companys likely relocation.

Through the on-site investigation, it is confirmed that Glory Sun does not maintain a physical presence at the above address.

Conclusion

The survey team went to Hong Kong, China to visit forex broker Glory Sun as scheduled but did not find the company at its regulatory address. It indicates that the broker does not have a physical office at the place. Accordingly, investors are advised to make a judicious decision following much deliberation.

Disclaimer

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