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. At 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 YAMAGATA (licensee: 山形證券株式会社) as planned according to its regulatory address that 2-1-41 Nanokamachi, Yamagata City, Yamagata Prefecture.

On November 21, 2023, the investigators came to 2-1-41 Nanokamachi in Yamagata City of Yamagata Prefecture, and located a commercial building to the northeast of Yamagata Station on the JR line in close proximity to an AZ store. The building with a giant company logo of YAMAGATA on the right is situated at a cobblestone street, making it easy to be spotted. The building entrance on the south side and the posters on the south and east side clearly showed the company name of “山形證券株式会社”.

Through the on-site investigation, it is confirmed that the company has a physical presence at the place.

Conclusion

The survey team went to Japan to visit forex broker YAMAGATA as scheduled, and found the companys name at its regulatory address. This signifies that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible decision following a comprehensive consideration.

Disclaimer

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