Reason for this visit

As the world‘s third largest economy, Japan is the one of the forex trading hubs in Asia-Pacific. JPY has become one of the major currencies on forex trading market as the global trade and capital flow expands. The country boasts a large scale forex spot market, with an average daily transaction volume of around 300 billion US dollars. Institutional investors are the main participants, while the proportion of individual investors rises steadily. In the meantime, the Financial Services Agency (FSA) and the Securities and Exchange Surveillance Commission (SESC) in Japan impose more stringent regulations on forex brokers, requiring them to verify the customers’ identity and hold sufficient funds. Recent years have witnessed the rise of online trading platforms. In brief, with an increasingly strict regulatory rules, Japans forex market is set to embrace bright prospects – or a more stable global role for JPY. In an attempt to help investors better understand the current situation of forex brokers in Japan, 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 Japan to visit forex broker Treasurenet as planned according to its regulatory address that 4-333-13 Sakuragi-cho, Omiya-ku, Saitama-shi, Saitama-ken 330-0854, Japan.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker Treasurenet in Omiya-ku, Saitama-shi. It is about a 10-minute walk from the closest metro station.

According to the field investigators on-site observations, a physical building indeed exists at the address, matching the registered information. The structure is situated in an average neighborhood that is neither particularly bustling nor conspicuously quiet, with unremarkable surroundings.

However, substantial obstacles emerged during further investigation. The inspection team was restricted to the lobby area and prohibited from approaching or accessing the office floor claimed by the target company. Within the lobby, they meticulously examined the floor directory, expecting to find “Treasurenet” listed. Yet, the directory clearly displayed only “Musashi Securities Co., Ltd.” as the tenant, with no trace of any name, signage, or logo related to “Treasurenet.” As the visit occurred outside business hours, elevator access to the relevant floor was unavailable for additional physical verification.

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

Conclusion

The survey team went to Japan to visit forex broker Treasurenet as scheduled but did not find the company at its regulatory address. It denotes that the broker does not have a physical office at the location. Accordingly, investors are advised to make a well-considered decision following much deliberation.

Disclaimer

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