Reason for this visit

The Canadian foreign exchange market is very unique. Canada has a unified financial supervisory authority covering all financial industries, that is the Canadian Securities Administration (CSA). On the other hand, however, under the CSA is the Investment Industry Regulatory Organization of Canada (IIROC), which was established in 2008 and is the regulator primarily responsible for the retail foreign exchange market. IIROC is further divided into three regions and 10 provinces independently, and each province and region has its own regulatory environment. Given the country’s sovereignty and its multiple laws and regulations, the foreign exchange market in Canada is rather complex compared with other countries. In order to help investors or practitioners have a more comprehensive understanding of the foreign exchange dealers in Canada, the survey team is going to the country for on-site visits.

On-site visit

This time the survey team went to Canada to visit the foreign exchange dealer West Capital as planned, and the survey address is 545 KING STREET WEST 2ND FLOOR TORONTO, ON, CANADA M5V1M1.

The survey personnel came to the destination of the current survey according to the above address. The destination is located on King Street, a major east-west commercial thoroughfare in Toronto, Ontario, Canada, and is considered Toronto's fashion district, known for trendy restaurants, design stores and boutique apartment developments. The building where the investigators arrived is a shared office called IQ, with a reception desk, but no water sign inside. The investigators did not find any information about the trader West Capital in the building.

The survey personnel consulted the front desk staff about the dealer West Capital, who said that West Capital had never settled in the building. Therefore, it is confirmed that the trader West Capital does not have an office here.

Conclusion

The investigators went to Canada to visit the foreign exchange dealer West Capital as planned, but did not find the dealer's office at its publicly displayed business address. The dealer may have just registered a company at this address without a real business venue. Please choose this dealer carefully.

Disclaimer

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