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 has one of the world's three most stringent regulatory bodies, that is the Financial Conduct Authority (FCA). Many FX dealers take obtaining FCA regulation for pride, and also hope to enter the country to develop market business. To help investors or practitioners have a more comprehensive understanding of the dealers in that country, the survey team is going to UK for site visits.

On-site visit

This time the survey team went to London, England to visit the foreign exchange dealer Finotrade as planned. The survey address is Mappin House 4 Winsley Street London W1W 8HF UNITED KINGDOM.

The survey personnel came to the destination of the survey based on the above address. The destination is not far from Buckingham Palace, north of the green park. The name of the building can be seen from a distance, which is quite conspicuous in an alley away from the main street. However, the space inside is not very large. There is a reception desk, and the exterior of the building and the facilities and decoration inside are relatively outdated. The survey personnel cannot find any information about the foreign exchange dealer Finotrade near the destination. And this address is registered and used by many foreign exchange dealers.

Conclusion

The investigators went to London, UK to visit the foreign exchange dealer Finotrade as planned. They did not find the dealer’s office on the publicly displayed address, and the dealer simply registered the company at that address without real business premises. Investors are requested to choose the dealer carefully.

Disclaimer

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