Purpose

The German foreign exchange market is an important foreign exchange market formed during the long-term financial development process, characterized by a high degree of internationalization and standardization. As a crucial engine of the European economy, Germany's foreign exchange market holds a key position within the European and even the global financial system. To help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the on-site inspection team conducted field visits in Germany.

Process

This period's on-site inspection team went to Germany as planned to conduct a field visit to the forex broker Monecor. According to public information, its office address is Deutschland Frankfurt, Schillerstr 15 - 17, 60313 Frankfurt/Main.

A professional and experienced on-site verification team, driven by a sense of mission to rigorously vet for investors, proceeded according to a well-planned schedule to Germany to conduct a physical verification of the broker Monecor, which claims to be located at Deutschland Frankfurt, Schillerstr 15 - 17, 60313 Frankfurt/Main.

The verification personnel successfully arrived at the target building. The building is located near the Frankfurt train station and is a well-decorated office building. The surrounding environment is relatively bustling with a strong commercial atmosphere. However, no company signage or relevant information for Monecor was found on the exterior of the building.

The verification personnel entered the ground floor of the building and discovered it was a gold dealer, whose front desk displayed a name different from Monecor. As it was a rest day, the building was not open, and the verification personnel were unable to obtain entry permission.

Due to the inability to enter the building, the verification personnel could not reach the target floor and thus were unable to determine if the office area of Monecor had clear signage. Since they could not enter the building, the personnel could not go inside, were unable to photograph Monecor's front desk, and the location was not a shared office space.

Through the glass door, the verification personnel could not observe the internal environment of the company, among other details. Overall, it was impossible to confirm whether the location matched its claimed positioning.

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

Conclusion

The on-site inspector visited the foreign exchange broker Monecor in Germany as planned. At its publicly displayed business address, no information such as the broker's company name was found, indicating that the broker does not have a genuine business premises. Please consider this comprehensively before making your investment decision.

Disclaimer

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