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 UBFX as planned. The survey address is 288 Bishopsgate London EC2M 4QP UNITED KINGDOM.

The survey personnel came to the destination of the survey based on the above address, which is an office building located at 288 Bishopsgate in London, England. The building is located in the center of London. It is a modern building decorated with transparent glass and looks very grand in appearance.

The survey personnel approached the office building. There was no sign at the entrance of the building, and the logo or other information of the foreign exchange dealer UBFX could not be found. Moreover, since the gate of the building was closed and the survey personnel could not enter, it was impossible to identify the dealer and the survey trip was thus ended.

Conclusion

The investigators went to London to visit the foreign exchange dealer UBFX as planned. They did not find the dealer’s office on the publicly displayed business address. This is a situation of untrue regulation. The dealer might simply register the company here without real business venue. Investors are advised to choose the dealer carefully.

Disclaimer

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