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 foreign exchange broker Crypto Zone 24 (company name: Crypto Facilities Ltd) as planned according to its regulatory address that 4th Floor, 25 Copthall Avenue, London, EC2R 7BP, United Kingdom.

With the help of navigation map, the investigators came at 25 Copthall Avenue, downtown London on July 15. An independent and modern Grate A office building is positioned on a prime and prominent site on the junction of Copthall Avenue and London Wall near a primary commercial center.

After entering the building, the survey personnel found from the company directory in the foyer that the 4th floor was vacant without any related information about broker Crypto Zone 24. In the meantime, people were not allowed to pay a special visit upstairs due to the stringent security reasons. According to the security guard working in the building, there was no company on the 4th floor.

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

Conclusion

The survey personnel went to London, UK to visit forex broker Crypto Zone 24 as scheduled, but didnt spot the company at the address. It suggests that the broker just registered at the place without a physical business office. Therefore, investors are advised to choose the broker cautiously.

Disclaimer

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