Purpose

The Malaysian foreign exchange market is an emerging forex market that has developed in recent years. With the continuous growth of the local economy and the gradual opening of financial markets, forex trading has become increasingly active in Malaysia. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, an on-site inspection team conducted field visits in Malaysia.

Process

The on-site inspection team proceeded as planned to Malaysia to conduct a field visit of the forex broker Concord Markets. According to publicly available information, its office address is Office 11, Jamie Robin Business Centre 1, Unit F10, 1st Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Labuan F.T.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously vet investments for investors, meticulously planned and traveled to Malaysia to conduct an on-site verification of the trader Concord Markets claimed to be located at the said address.

The inspector successfully arrived at the target building, which is actually a serviced apartment located on Jalan Tun Mustapha. No obvious commercial atmosphere related to foreign exchange trading was found in the surrounding area, which appeared quite ordinary. No company logos or relevant information related to Concord Markets were found on the exterior of the building.

The surveyor entered the building lobby and, after stating their purpose to the security personnel, obtained entry permission. However, upon entering the building, they found that while there were some companies and shared offices on the second floor, they did not see the company nameplate of Concord Markets in the building.

Due to the inability to obtain accurate information about the company's specific floor, the field investigator could not reach the exact floor or confirm the precise location, and naturally, could not enter the company's premises. Additionally, they were unable to photograph the reception area or the reception's logo. This office space is not a shared workspace.

Through the public areas inside the building, it was not possible to observe the internal environment of the company as the specific area of the company could not be located. Overall, no information related to this broker was found, which does not align with their claimed fixed office address.

Therefore, after on-site verification, it is confirmed that the dealer Concord Markets does not exist at the above address.

Conclusion

The on-site investigator visited the forex broker Concord Markets in Malaysia as planned. The broker's company name and other information were not found at the publicly displayed business address, indicating that the broker does not have a genuine operational 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 selection.