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 the local companies.

On-site visit

In this issue, the survey team went to London in the UK to visit forex broker Hillhouse (full name: UK Clearing House Limited) as planned according to its regulatory address that Churchill Court, 3 Manor Royal, Crawley, RH10 9LU, United Kingdom.

On August 29th, 2023, the investigators came to Churchill Court at 3 Manor Royal in Crawley, Southern London. The target building is situated in an office park, where there are three buildings which are mostly large and independent.

The building No. 3 is a co-working space, Regus, without a reception area. And there is no information related to Hillhouse or UK Clearing House Limited.

Through an on-site investigation, it is confirmed that the broker doesnt have a physical presence at the place.

Conclusion

The survey personnel went to London in the UK to visit forex broker Hillhouse as scheduled, but didnt spot the company at its regulatory address. This suggests that the broker just registered at the location without a physical business office. 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.