Purpose

The Singapore foreign exchange market is an emerging forex market that developed in the 1970s alongside the rise of the Asian dollar market. With its advantageous geographical location, stable political environment, and advanced financial infrastructure, Singapore has become one of Asia's key forex trading hubs. 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 Singapore.

Process

The on-site inspection team visited the forex broker GIC Trade in Singapore as planned. According to public information, its office address is 1 LIANG SEAH STREET #02 -02 SINGAPORE 189022.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Singapore to conduct an on-site verification of the trader GIC Trade purportedly located at 1 LIANG SEAH STREET #02 -02 SINGAPORE 189022.

The inspector successfully arrived at the target building, which is a two-story structure located near the subway station on a street known for its Chinese restaurants. The surrounding area is lively, with a predominantly dining-oriented commercial atmosphere. No company signage or related information for GIC Trade was found on the exterior of the building.

The first floor of the building is a Chinese restaurant. The address shows the company is on the second floor, but this appears to be a residential area with no staircase leading upstairs.

The inspector attempted to enter the building but was unable to access the second floor due to the lack of a passageway. No company signage was found inside the building, and there was no GIC Trade logo either inside or outside the building.

Since the target floor cannot be reached, the exact location of the company cannot be confirmed, nor can one enter the company premises, and it is not a shared office. From the exterior of the building, the internal office environment of the company cannot be observed. Due to the inability to enter, the overall situation cannot be assessed to determine whether it aligns with its claimed positioning.

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

Conclusion

The inspection team visited the forex broker GIC Trade in Singapore as planned. At the publicly displayed business address, no information such as the company name of the broker was found, indicating that the broker does not have a genuine business premises. 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 sole basis for making a final decision.