Reason for this visit

The forex market is extremely distinctive in Canada because 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 forex 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 gain a more comprehensive understanding of forex brokers in Canada, 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 Canada to visit forex broker CASH as planned according to its regulatory address that 2455 Bon Echo Dr., Oakville, ON, Canada L6H7R1.

The investigators came to 2455 Bon Echo Drive in Oakville of Ontario, Canada for an on-site visit to the brokers office, and located a residential building on the quiet street. Additionally, the survey personnel did not spot the company name or logo of CASH outside. According to the people living nearby, no company operated at the address.

Through the on-site investigation, it is confirmed that the broker does not have a physical presence at the place.

Conclusion

The survey team went to Canada to visit forex broker CASH as scheduled, but did not find the company at the regulatory address. It indicates that the broker may just register at the address without a physical business office. Accordingly, investors are advised to make a sensible decision following much deliberation.

Disclaimer

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