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. In 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 MCP as planned according to its regulatory address that 1-8-1 Otemachi, Chiyoda-ku, Tokyo.

On March 18, 2024, the investigators came to 1-8-1 Otemachi in Chiyoda of Japan for a visit to the broker, and located a modern commercial building, which is home to a wide range of facilities including banks, concert halls, theaters, lecture halls, etc. With a fabulous location, the building is easily accessible via public transport within 2-munite walking distance from Otemachi Station of Tokyo Metro.

Upon arrival at the building for further investigation, the survey personnel easily spotted a directory in the lobby, which prominently showed that MCP was situated on the 18th floor.

After proceeding to the 18th floor via the elevator, the inspection team clearly saw the company name and logo of MCP at its office with a reception and a professional working space. Unfortunately, people weren‘t allowed to enter without an access card. And the team failed to visit the office and take photo inside. Consequently, it’s impossible to know the specific company size.

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

Conclusion

The survey team went to Japan to visit forex broker MCP as scheduled, and found the companys name at its regulatory address. This signifies that the broker has a physical business office at the location. However, the actual office size of the broker is uncertain due to the failure to pay an internal visit to the office and shoot pictures. 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.