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 FirstBtcFx as planned. The survey address is 4 OLD PARK LANE MAYFAIR London W1K 1QW UNITED KINGDOM.

The survey personnel came to the destination of the survey based on the above address, which is an office building at 4 OLD PARK LANE MAYFAIR in London, England. It is a typical British building and is not far from Hyde Park. Since it is located in a remote corner, the surroundings are not very busy and lively.

The survey personnel came outside the building and found that there was no sign out there. The logo or other information of the foreign exchange dealer FirstBtcFx could not be found. Unable to enter the building, the survey personnel had no choice but to end the survey trip.

Conclusion

The investigators visited the foreign exchange dealer FirstBtcFx in London as planned. They did not find the dealer’s office on its regulatory address. This is a case of untrue supervision. Investors are advised to choose this dealer carefully.

Disclaimer

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