Purpose

The UK foreign exchange market is a long-established and well-developed international forex market. Since the establishment of the modern financial system, it has consistently been one of the important global hubs for foreign exchange trading, characterized by large trading volumes, a rich variety of trading products, and a diverse range of market participants. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site inspection team traveled to the UK to conduct field visits.

Process

The on-site inspection team visited the forex broker DAILY TRADE in the UK as planned. According to public information, its office address is Shelton Street, Covent Garden, London, UK, WC2H 9JQ.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet for investors, proceeded according to a well-planned schedule to the target area in the UK. They conducted an  inspection of the broker DAILY TRADE, which claims to be located at Shelton Street, Covent Garden, London, UK, WC2H 9JQ.

The inspectors successfully arrived at the target area, located in Covent Garden, London. The surrounding environment is bustling,  with a strong commercial atmosphere. However, no signage or any relevant information pertaining to this broker was found on the exterior of the building.

The inspectors entered the building lobby, explained their purpose to the security personnel, and after communication, they were informed that there was no such company. They were not granted access permission.

As they were unable to enter the building interior, they could not reach the target floor to confirm the status of DAILY TRADE's office area. Consequently, they could not determine if there were any prominent signage or security measures. Simultaneously, they were unable to enter the interior, so they could not photograph DAILY TRADE's reception area or logo. Furthermore, the office was not a shared workspace.

The inspectors found no information whatsoever about this broker. Upon inquiring with security, they were told there was no such company. It was concluded that the broker's address is false. Therefore, after the on-site inspection, it was confirmed that broker DAILY TRADE does not exist at the aforementioned address.

Conclusion

The on-site inspector visited the forex broker DAILY TRADE in the UK as planned. At its publicly displayed business address, no information, such as the broker's company name was visible, indicating that the broker does not have a genuine physical business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be used as the final basis for choices.