Reason for this visit

According to the Reuters, the United Kingdom has been expanding its leading role in the field of global foreign exchange trading since its public voting to leave the European Union. In addition, British retail foreign exchange market has been regulated by the Financial Conduct Authority (FCA), one of the world's top three stringent regulatory bodies. Many foreign exchange brokers take pride in obtaining FCA license in the hopes of developing market business in the country. In order to help investors and practitioners to 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 investigation team went to London, United Kingdom to visit the foreign exchange broker Beaufort (licensee: YOU Asset Management Limited) as planned according to its regulatory address that Fourth Floor, Front Suite Kingsgate, 62 High Street Redhill Surrey, RH1 1SH, United Kingdom.

The survey personnel came to the destination in a large-scale business area in downtown Redhill, South London on March 22, where an office building is situated in the busy High Street.

After entering the building, the survey team knew that the 4/F was shared by two companies, with one vacant office, but didnt find any information about Beaufort Investment.

Therefore, it is confirmed that the company doesnt have a physical presence here.

Conclusion

The investigators went to London, United Kingdom to visit forex broker Beaufort as scheduled, and didn‘t spot the company’s physical business office at its regulatory address. It is more likely that the broker just registered a company without a physical working place at the address. Therefore, investors are advised to make a sensible choice based on 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.