Reason for this visit

The Canadian foreign exchange market is very unique. Despite being one country, there is a unified financial regulatory authority, the Canadian Securities Administrators (CSA), covering all financial sectors. But on the other hand, under the CSA there is the Investment Industry Regulatory Organization of Canada (IIROC), which was established in 2008 and is primarily responsible for the regulation of the retail foreign exchange market. In addition, the IIROC is independently divided into three regions and 10 provinces, each with its own regulatory environment. Unity and division are contradictory, which makes the Canadian forex market the most complex in the world. In order to help investors or practitioners get a more comprehensive understanding of the country's foreign exchange dealers, the survey team to Canada for site visits.

On-site visit

This time the survey team visited the dealer PG in Canada, with the specific address at 500-7030 WOODBINE AVE MARKHAM, ON, CANADA L3R6G2.

Based on the above address, the survey team went to the destination of this survey, a large office building located in the Toronto area of Canada. Upon arrival, the surveyors searched for companies in Room 500 on the electronic directory and found that there were several companies in Room 500, but the dealer PG could not be found.

Upon going upstairs, the surveyors found that the office belonged to a shared office of REGUS. Despite attempts to search the interior, the surveyors could not find the logo or nameplate of PG. In the end, the surveyors confirmed that the dealer did not have an office at the location.

Conclusion

The survey team went to Canada, to visit the dealer PG and found no office at its business address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.

Disclaimer

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