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 is regulated by the Financial Conduct Authority (FCA), one of the world's three most stringent regulatory bodies. Many FX brokers take obtaining FCA regulation for pride in the hope of entering the country to develop business in local market. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange brokers in the UK, WikiFX survey team is going to the country for on-site visits to the local companies.

On-site visit

In this issue, the survey team went to London, UK to visit the foreign exchange broker Plus500 (Licensee: Plus500UK Ltd) as planned according to its regulatory address that 8 Angel Court, Copthall Avenue, London, EC2R 7HJ, United Kingdom.

With the help of navigator map, the investigators came to 8 Angel Court at Capthall Avenue to the south in central London on July 14, 2023. Among a host of commercial buildings, the renowned office building is surrounded by clean and busy streets with huge crowds of people.

After entering the independent commercial house, the survey personnel found company directory and reception area in the lobby. And people werent allowed to visit working area without a reservation due to stringent security reasons. From the company directory, it could be seen clearly that the 1st floor was occupied by company “PLUS500 UK LIMITED”. In addition, according to the receptionist working there, the company was operating business in the building.

Through an on-site investigation, it is confirmed that the company has a physical presence at the place.

Conclusion

The investigators went to London, UK to visit the foreign exchange broker Plus500 as scheduled, and spotted its company name at the regulatory address. It suggests that the company has a physical business office at the location. Unfortunately, the survey personnel were unable to enter the company for a special visit, so the specific scale of its business is unknown. Therefore, investors are advised to make a sensible choice based on an overall consideration.

Disclaimer

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