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 forex brokers take obtaining FCA regulation for pride in the hope of entering the country to develop business in local market. 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 IB as planned according to its regulatory address that Heron Tower, Level 20, 110 Bishopsgate, London, EC2N 4AY United Kingdom.

On August 29, 2023, the investigators came to 110 Bishopsgate in a developed commercial area of Central London. The commercial skyscraper is the second tallest building in the bustling City of London, near the European Bank and Economic and Trade Business Center.

After arriving at the building with security and a reception area, the survey personnel didn‘t spot a directory in the lobby. At the meantime, people weren’t allowed to enter it without an appointment and registration due to stringent security reasons. And photographing wasnt permitted in the lobby. According to the receptionist working in the building, company IB (Interactive Brokers) was indeed located on the 20th floor.

Through an on-site investigation, it is confirmed that IB has a physical presence at the place.

Conclusion

The survey personnel went to London, the UK to visit forex broker IB as scheduled, and found the companys name at its regulatory address. This suggests that the broker has a physical business office at the location. Unfortunately, the actual company size of the broker is unknown due to the failure to pay an internal visit its office. Therefore, investors are advised to make an informed decision following a comprehensive consideration.

Disclaimer

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