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, the importance of forex trading in Malaysia has become increasingly prominent. 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 visited the forex broker MXC Group in Malaysia as planned. According to public information, its office address is UniT Level 14 (B) & 14 (C), Main OFFice Tower, Financial Park Labuan CoMplex, Jalan Merderka, 87000 Labuan F.T.

A professional and experienced on-site inspection team, driven by a sense of mission to rigorously safeguard investors' interests, meticulously planned and traveled to Malaysia to conduct an on-site verification of the dealer MXC Group claimed to be located at the specified address.

The inspection personnel successfully arrived at the Labuan Financial Park Complex, located in the most central area of Labuan Island, serving as the local financial hub. The building is considered very luxurious by local standards, with a bustling surrounding environment and a strong commercial atmosphere. However, no company signage or related information of MXC Group was found on the exterior of the building.

The surveyor entered the building lobby and, after explaining their purpose to the security guard, obtained permission to enter. However, the directory machine in the hallway only displayed a few lines at a time, and the changes were extremely slow, making it impossible to take photos or stay for an extended period. There were four or five security personnel at the front desk on the first floor, who also prohibited taking photos inside the building.

Since no valid information could be obtained from the directory board, the field investigator was unable to confirm the specific floor of MXC Group and thus could not reach the target floor to check whether there were clear signs or security measures in the office area. Due to these limitations, the investigator could not enter the company premises, take photos of the reception area or its logo, and the office was not a shared workspace.

Through the lobby area, the inspectors were unable to observe the internal environment of the company, making it impossible to determine whether the overall environment aligns with its claimed positioning.

Therefore, after the on-site inspection, it cannot be confirmed whether the dealer MXC Group exists at the above address.

Conclusion

The inspection team visited the forex broker MXC Group in Malaysia as planned. At the publicly displayed business address, no information such as the company name of the broker was found, raising doubts about whether the broker has 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 used as the final basis for selection.