Purpose

The British foreign exchange market is one of the important global foreign exchange markets formed during the long-term historical development. It has characteristics such as large trading volume, flexible trading hours, and numerous financial institutions, occupying a pivotal position in international foreign exchange trading. In order to help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the inspection team went to the UK for an on-site visit.

Process

This site inspection team visited the forex broker External Coins in the UK as planned, according to public information its office address is 40 Bank St, London E14 5NR, United Kingdom.

A professional and experienced on-site inspection team, with a mission to strictly vet for investors, went to the UK according to a well-planned schedule. They conducted a field verification of the broker External Coins claiming to be located at 40 Bank St, London E14 5NR, United Kingdom.

The inspection personnel arrived at the target building smoothly. The location is in a bustling area of London, with a clean surrounding environment and a strong commercial atmosphere. However, no company signage or related information of the broker was found outside the building.

The inspection personnel entered the building lobby and informed the security guard of their purpose. After a brief communication, they obtained permission to enter.

However, no company directory listing for External Coins was found inside the building, nor was the company's logo seen. Since the specific floor and location could not be confirmed, they were unable to go to a specific floor to verify its office area. Naturally, they could not enter the company's interior, nor take photos of the reception area and its logo. The office was not a shared office either.

Through the lobby area, since they could not enter the company, it was impossible to observe the internal office environment. Upon arrival, they confirmed that the address was correct, but found no information about the broker. Upon inquiry, the security guard informed them that this company did not exist, leading to the conclusion that it is fraudulent.

Therefore, the on-site inspection confirmed that the broker External Coins does not exist at the above address.

Conclusion

The field investigators went to the UK as planned to physically visit the forex broker External Coins. At its publicly displayed business address, they could not see the company name or any other information of the broker, indicating that the broker does not have a real business premises. Investors are advised to make their decisions after careful consideration.

Disclaimer

The above content and views are for reference only and are not the basis for final decisions.