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 LCG as planned. The survey address is 3rd Floor 80 Cheapside London EC2V 6EE UNITED KINGDOM.

The survey personnel came to the destination of the survey based on the above address, which is an office building in 80 Cheapside, London, England. The building is located in a professional office block with many tall buildings nearby, which is very prosperous.

The survey personnel approached the building and found that its gate was closed and they could not go inside. Outside the building, the survey personnel did not find the logo or other information of the foreign exchange dealer LCG.

Conclusion

The investigators went to London to visit the foreign exchange dealer LCG as planned. They did not find the dealer’s office on its regulatory address. This is a false foreign exchange regulation. Investors are advised to choose this dealer carefully.

Disclaimer

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