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 these companies.

On-site visit

In this issue, the survey team went to London, UK to visit the foreign exchange broker V5 Forex Global as planned according to its regulatory address that Unit 1804, South Bank Tower, 55 Upper Ground, London, SE1 9EY.

With the help of navigator map, the investigators came to South Bank Tower in Blackfriars, central London on June 17. Once the site of a medieval friary, Blackfriars now has corporate offices and upscale apartments in both modern and Victorian buildings. And therere many premium residential and commercial buildings nearby.

The survey personnel found that there was no company directory or any company‘s logo, but a reception desk and mail box in the aftermath of the arrival at the target building. According to receptionist, South Bank Tower was just a residential building without any companies or commercial tenants. At meantime, unit 1804 was occupied by residents, so people weren’t allowed to pay a special visit.

Through an on-site investigation, it is confirmed that V5 Forex Global doesnt have a physical presence there.

Conclusion

The survey personnel went to London, UK to visit the forex broker V5 Forex Global as scheduled, but didn‘t find the company’s office at the address. It suggests that the broker just registered at the location without a physical business office there. 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.