Reason for this visit

Canadas forex market is highly unique. While the country has a centralized financial regulator—the Canadian Securities Administrators (CSA)—overseeing the broader financial sector, retail forex trading is primarily regulated by the Investment Industry Regulatory Organization of Canada (IIROC), a self-regulatory organization operating under the CSA. Established in 2008, the IIROC has independently built many low-level regulatory bodies supervising three regions and ten provinces respectively with their own independent laws and regulations. The integration of unity and differentiation in regulation makes the Canadian forex market the most complex in the world. In order to help investors or practitioners to gain a more comprehensive understanding of forex brokers in Canada, 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 Canada to visit forex broker YAIBrokers as planned according to its regulatory address that 439 University Avenue, Toronto, Canada.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker YAIBrokers at 439 University Avenue in Toronto.

Upon arriving at the target address, the inspection team found the building located in a bustling downtown area of Toronto, with heavy traffic and well-developed commercial facilities nearby. The overall environment was a standard business district, with the building situated close to the street and featuring a modern architectural style.

To gather more comprehensive information, the investigators proceeded to inspect the buildings interior. Upon entering the lobby, they noted the presence of security personnel and a reception desk in a clean and orderly environment. The team checked the lobby directory but found no information related to “YAIBrokers.” When inquiring with the front desk staff, they were explicitly told that no such company was registered in the building.

The team attempted to further verify the companys internal operations but encountered multiple obstacles. While they could access the lobby, the lack of a specific floor or room number prevented further entry. The front desk denied access, citing “no such company” as the reason.

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

Conclusion

The survey team went to Canada to visit forex broker YAIBrokers as scheduled but did not find the company at the aforementioned address. It denotes that the broker does not have a physical office or it just utilizes the address solely for registration purposes. Accordingly, investors are advised to make a sensible 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.