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 CIBC as planned. The survey address is 150 Cheapside London EC2V 6ET UNITED KINGDOM.

The survey personnel came to the destination of the current survey based on the above address. The place is easier to find. It is next to the subway station, at the north gate of St. Paul's Church, next to a coffee shop. There is a lot of space inside. The exterior wall is made of glass. The front desk is very long, where there are a lot of staff working. It can be seen from the outside that it’s very clean inside. Unable to enter, the survey personnel could not find the logo or other information of the foreign exchange dealer CIBC.

Conclusion

The investigators went to visit the foreign exchange dealer CIBC in London, UK 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 and did not have a real business place. Investors are advised to choose the dealer carefully.

Disclaimer

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