Reason for this visit

The UK foreign exchange market is one of the largest foreign exchange markets globally and the largest in Europe. The regulatory oversight of the UK foreign exchange market is primarily handled by the Financial Conduct Authority (FCA) of the United Kingdom. The FCA is responsible for regulating financial services companies and financial markets, ensuring fairness, transparency, and stability in the market. It is widely recognized as a highly reputable regulatory authority worldwide. Despite the impact of Brexit on the economy, the outlook for the UK foreign exchange market remains optimistic. With the strict regulation of the financial market by the FCA, the UK is one of the largest forex trading centers globally, attracting more investors and institutions to participate in the UK forex market and promoting market activities and development. Many forex brokers take pride in obtaining FCAs regulatory license in the hope of entering the country to expand their market presence. In an attempt to help investors or practitioners have a more comprehensive understanding of foreign exchange brokers in the UK, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to London in the UK to visit forex broker AETOS as planned according to its regulatory address that 1st Floor 415 High Street Stratford London E15 4QZ United Kingdom.

On November 24, 2023, the investigators came to 415 High Street in Stratford of London for a visit to the companys office, and located a low-rise commercial building at the prosperous street. Company Dobbin & Sullivan is situated on the ground floor of the building. Additionally, there are numerous commercial buildings nearby.

According to the address claimed by AETOS, the company is located on the first floor at 415 High Street, which is actually occupied by a laundry center Pick n Drop and a co-working space SBN after an on-site visit. And the survey personnel failed to enter the building for further information as the door was closed. However, the team knew that AETOS didnt exist in the building following contacting the staff working for SBN by intercom system.

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

Conclusion

The survey personnel went to London, the UK to visit forex broker AETOS as scheduled, but didnt find the company at its regulatory address. This suggests that the broker may just register 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.