Purpose

The Singapore foreign exchange market is an emerging forex market that developed in the 1970s alongside the rise of the Asian dollar market, and it is now the fourth-largest forex trading center globally. Leveraging its strategic geographical location, stable political environment, robust financial regulatory system, and advanced financial infrastructure, Singapore has attracted numerous international financial institutions and forex brokers to establish operations there. To help investors or professionals 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 Evo Capitals in Singapore as planned. According to public information, its office address is 3 Phillip St, Singapore 048693.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, traveled to Singapore following a well-planned schedule. Based on the aforementioned information, they conducted an on-site visit to the dealer Evo Capitals.

The field investigator proceeded to the target area based on the address information to conduct an on-site verification of the dealer claiming to be located at 3 Phillip St, Singapore 048693Evo Capitals.

The inspection personnel successfully arrived at the target building, which is located in a bustling area of Singapore with a clean surrounding environment and a strong commercial atmosphere. No signage or relevant information about the company was found on the exterior of the building.

The surveyor entered the building lobby and explained their purpose to the security personnel. After communication, they obtained permission to enter. However, the company's nameplate was not found inside the building.

Due to strict security measures in the building and the absence of a directory indicating the company's specific location, the investigators were unable to access the relevant floor or confirm its exact position, nor could they enter the company premises. Additionally, they failed to photograph the reception area or its logo. From the conversation with the receptionist, it was learned that this is a shared office space, but the receptionist stated they had never heard of Evo Capitals.

Through the lobby area, as access to the company's interior is not possible, the internal environment of the company cannot be observed.

Therefore, after on-site verification, it is confirmed that the broker Evo Capitals does not exist at the aforementioned address.

Conclusion

The on-site investigator visited the forex broker Evo Capitals in Singapore as planned. At the publicly displayed business address, no information such as the company name of the broker could be 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 opinions are for reference only and should not be considered as the final basis for decision-making.