Reasons for Field Survey

Turkey's foreign exchange market is highly active, with no foreign exchange controls. Residents can freely hold foreign currency and remit funds in and out without restrictions. In recent years, investor interest in Turkish forex trading has grown, attracting numerous international financial institutions. To help investors accurately understand the actual performance of brokers in the region and mitigate the risks associated with information bias, the field research team conducted a field visit to Turkey.

Field Survey Process

This inspection targeted the broker TeraFX, whose publicly listed office address is Eski Büyükdere Cad. No:9 İz Plaza Giz Kat:11 34485 Maslak İstanbul (9 Old Büyükdere Cad., İz Plaza Giz Kat:11 34485). The inspection team rigorously located and verified the address.

Upon arrival, the inspection team first confirmed that the address matched the public information. The building was located, revealing a typical commercial office building. The inspection team successfully captured panoramic photos of the building. However, since the target company was not visible, no corresponding office street environment existed.

The inspection team then entered the building lobby unimpeded. A company sign was displayed in the lobby, but after repeated inspection of the sign, no reference to TeraFX's name was found, nor was there any information pointing to Giz Kat:11.

To further verify the situation, the surveyors inquired with the front desk staff in the lobby about TeraFX's office location on the Giz floor of the building. The staff categorically stated that TeraFX was not listed in the building's resident directory and had no record of the company being registered or operating there. The surveyors subsequently attempted to confirm the company's location on the Giz floor, but were unable to reach the target floor due to lack of valid occupancy documentation and access rights. Furthermore, no TeraFX logo was found on the building's exterior walls or in public areas. Furthermore, although the address and street number matched, the lack of actual record of the company's presence provided no evidence of its legitimate operations.

Thus, the survey confirmed that TeraFX did not exist at the aforementioned address.

Field Survey Summary

The surveyors visited the TeraFX as planned. They could not find the broker's company name and other information at its publicly displayed business place, indicating that the broker does not have a real business location. Investors are advised to consider this information comprehensively before making decisions.

Field Survey Disclaimer

The above content and opinions are for reference only and should not serve as a basis for any final decision.