Reason for this visit

According to the Reuters, the United Kingdom has expanded its leading position in the field of global FX trading in the years since it voted to leave the European Union. In addition, the British retail foreign exchange market has one of the world's three most stringent regulatory bodies, that is the Financial Conduct Authority (FCA). Many FX dealers take obtaining FCA regulation for pride, and also hope to enter the country to develop market business. To help investors or practitioners have a more comprehensive understanding of the dealers in that country, the survey team is going to UK for site visits.

On-site visit

In this period, the survey team went to London, England to visit the foreign exchange dealer FxGlobalTraders as planned. The survey address is 1 Ropemaker Street London EC2Y 9HT UNITED KINGDOM.

The survey personnel came to the destination of the survey based on the above address, which is an office building located at 1 Ropemaker Street in London, England. It is a typical white European-style building and is located in the center of London. It can be seen from the outside that the gate of the building is very large and grand.

The survey personnel approached the building and found that the house number was very conspicuous. It could be confirmed that the address was consistent with the foreign exchange regulation information. The lobby on the first floor was similar to a shared office. Neither the sign of the building nor the logo or other information of the foreign exchange dealer FxGlobalTraders could be found.

Conclusion

The investigators went to London, England to visit the foreign exchange dealer FxGlobalTraders as planned. They did not find the dealer’s office on the publicly displayed business address. This is a situation of untrue regulation. The dealer might simply register here without a real business place. Investors are advised to choose the dealer carefully.

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.