Reason for this visit

The foreign exchange market is extremely distinctive in Canada, since the country has its own financial authority, the Canadian Securities Administrators (CSA), which provides a unified management of all financial industries. Meanwhile, CSA set up its subsidiary body, the Investment Industry Regulatory Organization of Canada (IIROC), in 2008, which is primarily responsible for the regulation of the retail foreign exchange market. And the IIROC has independently built many low-level regulatory bodies supervising three regions and ten provinces respectively. All these institutions release multiple independent laws and regulations. The integration of unity and differentiation in regulation makes the Canadian forex market the most complex in the world. In order to help investors or practitioners to get a more comprehensive understanding of the country's foreign exchange brokers, WikiFX survey team decides to go to Canada for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit the forex broker RBC as planned according to its regulatory address that 155 Wellington Street West RBC Centre, 19th Floor Toronto ON M5V 3K7.

On December 3, 2023, the investigators arrived at 155 Wellington Street West in Toronto of Ontario, Canada for a visit to the brokers office, and located RBC Centre at the corner of bustling Wellington Street and Simcoe Street in the commercial district of Downtown Toronto.

Upon arrival at the building for further investigation, the survey personnel spotted security guards and a reception area in the lobby. According to the staff, the entire building was owned by RBC.

Upon access to the 19th floor via the elevator, the company name and logo of RBC could be seen.

Through the on-site investigation, its confirmed that the company does have a physical presence at the place.

Conclusion

The survey team went to Canada to visit forex broker RBC as scheduled, and found the companys name at the regulatory address. This signifies that the broker truly has a physical business office at the location. Meanwhile, 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.