Reason for this visit

As the world‘s third largest economy, Japan is the one of the forex trading hubs in Asia-Pacific. JPY has become one of the major currencies on forex trading market as the global trade and capital flow expands. The country boasts a large scale forex spot market, with an average daily transaction volume of around 300 billion US dollars. Institutional investors are the main participants, while the proportion of individual investors rises steadily. At the meantime, the Financial Services Agency (FSA) and the Securities and Exchange Surveillance Commission (SESC) in Japan impose more stringent regulations on forex brokers, requiring them to verify the customers’ identity and hold sufficient funds. Recent years have witnessed the rise of online trading platforms. In brief, with an increasingly strict regulatory rules, Japans forex market is set to embrace bright prospects – or a more stable global role for JPY. In an attempt to help investors better understand the current situation of forex brokers in Japan, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Japan to visit forex broker Ronal Forex as planned according to its regulatory address that 5-17 Nishi-no-Marucho, Takamatsu-shi, Kagawa 760-0021, Japan.

On November 30, 2023, the investigators came to 5-17 Nishi-no-Marucho in Takamatsu City of Kagawa Prefecture, and located a commercial building in the city center. On the south side of the building lied a store named “Watari Yoma Takamatsu”, without any information concerning “Ronal Forex”.

Upon searching around the building for further investigation, the survey personnel failed to discover any sign of Ronal Forex.

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

Conclusion

The survey team went to Japan to visit forex broker Ronal Forex as scheduled, but didn‘t find the company’s name at its regulatory address. This signifies that the broker might just register with the address without a physical business office. Accordingly, investors are advised to make a sensible decision following a comprehensive consideration.

Disclaimer

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