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

This time the survey team went to London, England to visit the foreign exchange dealer GFI as planned. The survey address is BroadGaTe QuarTer, 7Th Floor One Snowden STreeT London EC2A 2DQ UNITED KINGDOM.

The survey personnel came to the destination of the survey based on the above address, which is an office building located at One Snowden STreeT in London, England. The building is not located in a downtown area and is not very prosperous.

In order to verify whether the foreign exchange dealer GFI operates here, the survey personnel entered the building and found the sign of the building, without the dealer’s name on it however. Unable to go upstairs to visit, the survey personnel had no choice but to end the survey trip.

Conclusion

The investigators went to London to visit the foreign exchange dealer GFI as planned. They did not find the dealer’s office on its foreign exchange regulatory address. This is a situation of untrue regulation. 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.