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 visited the dealer BMSFX in London, UK, with the specific address at 13-14 BasinGhall STreeT CiTy OF London EC2V 5BQ UNITED KINGDOM.

According to the above address, the survey team came to the destination of this survey. The addresses were all shops along the street. Due to the COVID-19, most of the shops were closed, and the whole street was in a recession. The address of the dealer was also closed. In addition, the surveyors were failed to find the logo or other information of the dealer BMSFX. In the end, it was learned that the address was shared with several exchanges.

Conclusion

The survey team went to London, UK, to visit the the dealer BMSFX and found no office at its business address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.

Disclaimer

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