Purpose

The Turkish foreign exchange market is an emerging foreign exchange market that has developed in recent years. With the continuous development of the Turkish economy and the gradual opening of the financial market, foreign exchange trading has become increasingly active in the country. In order to help investors or practitioners gain a more comprehensive understanding of foreign exchange brokers in the region, the team went to Turkey for an on-site visit.

Process

As planned, the team went to Turkey for an on-site visit to the forex broker Volume Groups. According to public information, their office address is 'balabanağa mahallesi Büyükreşitpaşa caddesi kurultay Sokak No:35 D:201 kat 2 laleli Fatih İstanbul'.

With a sense of mission to strictly scrutinize for investors, the team traveled to Turkey based on meticulous planning. Based on the aforementioned information, they conducted an on-site visit to the dealer Volume Groups.

The team headed to the target area based on the address information to conduct an on-site verification of the dealer Volume Groups who claimed to be located at that address. Upon arrival, they used Google Maps to confirm the location, only to find that the target address was a clothing store.

The surrounding environment of this location does not have a commercial atmosphere related to the corresponding dealer, and there are no signs related to foreign exchange trading. The inspection personnel successfully arrived at the target building, and the exterior of the building could be photographed in its entirety, but no company logos or related information were found outside the building.

The on-site inspector entered the building lobby and, after explaining the purpose to the security guard, obtained permission to enter. However, no company directory was found inside the building.

Since it is actually a clothing store, the scene inside is that of selling clothes, not a trading company's office. The overall environment completely does not match its claimed positioning as a forex trader. The investigators also could not photograph the company's front desk and the logo at the front desk, and the place is not a shared office.

Therefore, after the on-site inspection, it was confirmed that the dealer Volume Groups does not exist at the aforementioned address.

Conclusion

The team went to Turkey as planned to visit the foreign exchange dealer Volume Groups on-site. They could not see the company name or other information of the dealer at the publicly displayed business address, indicating that the dealer does not have a real business location. 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 decision-making.