Reason for this visit

The foreign exchange market is extremely distinctive in Canada, since the country has its own financial authority, the Canadian Securities Administrators (CSA), which provides a unified management of all financial industries. Meanwhile, CSA set up its subsidiary body, the Investment Industry Regulatory Organization of Canada (IIROC), in 2008, which is primarily responsible for the regulation of the retail foreign exchange market. And the IIROC has independently built many low-level regulatory bodies supervising three regions and ten provinces respectively. All these institutions release multiple independent laws and regulations. The integration of unity and differentiation in regulation makes the Canadian forex market the most complex in the world. In order to help investors or practitioners to get a more comprehensive understanding of the country's foreign exchange brokers, WikiFX survey team decides to go to Canada for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit the forex broker Questrade as planned according to its regulatory address that 5700 Yonge Street Suite 1900 Toronto ON M2M 4K2.

On December 14, 2023, the investigators arrived at 5700 Yonge Street in North York of Toronto, Ontario, Canada for a visit to the brokers office, and located “North American Centre”, a Grade-A office building at the quiet street. There was an outdoor directory, which displayed prominently the company name and logo of “Questrade”.

Upon arrival at the building for further investigation, the survey personnel spotted the eye-catching company name and logo of “Questrade” at the entrance of the structure.

Upon access to the building, the inquiry team discovered the reception area and a digital directory in the lobby, which displayed the information pertinent to Questrade. However, people werent allowed to visit and take photos in the office due to the stringent security rules. Therefore, the specific office size of the broker is unconfirmed.

Through the on-site investigation, its confirmed that the broker has a physical presence at the place.

Conclusion

The survey team went to Canada to visit forex broker Questrade as scheduled, and found the companys name at the regulatory address. This signifies that the broker has a physical business office at the location. Meanwhile, 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.