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 IFEFX as planned. The survey address is 361 EDGWARE ROAD London W2 1BS UNITED KINGDOM.

The survey personnel came to the destination of the current survey based on the above address. They arrived at Edgware Road, known as "Little Cairo" by locals in London, where it was full of bars and hookah cafes. The destination was in a narrow gap between two shops. The investigators were unable to find the logo or other information of the foreign exchange dealer IFEFX here, and multiple foreign exchange dealers registered at this address repeatedly.

Conclusion

The investigators went to visit the foreign exchange dealer IFEFX 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 without real business premises. Investors are requested to choose the dealer carefully.

Disclaimer

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