Reason for this visit

In the retail forex market, there are a good number of regulated dealers in UK. Sometimes, it happens to one regulatory address registered with multiple brokers. In order to provide investors with more comprehensive information, the survey team this time visited Finotrade, a broker based in London, UK.

Regulatory information

According to the regulatory information, the broker Finotrade has the STP license issued by FCA and located at Mappin House 4 Winsley Street London W1W 8HF UNITED KINGDOM. The survey team thus decided to have an on-site visit to this regulatory address for confirmation.

On-site visit

The survey team followed the address on the regulatory information to Mappin House, an office building at 4 Winsley Street, London, UK. The building is located in a relatively quiet alleyway with old-fashioned style. 

At the entrance, there is no logo of Finotrade on the directory of building. It is a five-storey building and four out of five floors are for rent now. Due to the COVID-19, many companies had been moved away. The survey team later found a elderly man at reception desk, who looked like a security guard. With a short conversation, it was learned that there was no office of Finotrade in the building.     

Conclusion

The survey team confirmed after the on-the-spot visit that there is no office of Finotrade at the address mentioned in the regulatory information. 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.