Purpose

The UK foreign exchange market is a long-established and highly developed international foreign exchange market. Since the formation of the modern financial system, it has occupied an important position, possessing mature trading rules and a massive trading volume. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site verification team traveled to the UK for on-the-ground visits.

Process

This time, the on-site inspection team went to the United Kingdom as planned to conduct an on-site visit to the forex broker PIPS STAR. According to public information, its office address is 71 - 75 Shelton Street Covent Garden London, London, London, WC2H 9J, United Kingdom.

A professional and experienced on-site verification team, driven by a sense of mission to rigorously vet for investors, proceeded to the United Kingdom according to a well-planned schedule to conduct a physical verification of the broker PIPS STAR, which claims to be located at 71 - 75 Shelton Street Covent Garden London, London, London, WC2H 9J, United Kingdom.

The verification personnel successfully arrived at the target building, located in the bustling Covent Garden area of London, with a lively surrounding environment and a strong commercial atmosphere. However, no company signage or relevant information for PIPS STAR was found on the exterior of the building. Before reaching the building, they were informed that this was a virtual office with no physical workspace.

The verification personnel entered the building lobby and explained their purpose to the security guard. After communication, they were granted permission to enter.

However, as it was informed to be a virtual office, the verification personnel were unable to reach the target floor to confirm the specific location, and also failed to find any clear signage or security measures for PIPS STAR's office area. Since there is no physical workspace itself, the verification personnel could not enter the interior, and this office is not a shared workspace.

From the lobby area, as they could not enter the interior, they were unable to observe the company's internal environment and other conditions.

Therefore, after the on-site verification, it was confirmed that the broker PIPS STAR does not exist at the aforementioned address.

Conclusion

The on-site inspector visited the forex broker PIPS STAR in the UK as planned. At its publicly displayed business address, no information such as the broker's company name could be seen, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be used as the final basis for selection.