Reason for this visit

The foreign exchange market is extremely distinctive in Canada, since the country has its own financial authority, the Canadian Securities Administrators (CSA), which provides a unified management of all financial industries. Meanwhile, CSA set up its subsidiary body, the Investment Industry Regulatory Organization of Canada (IIROC), in 2008, which is primarily responsible for the regulation of the retail foreign exchange market. And the IIROC has independently built many low-level regulatory bodies supervising three regions and ten provinces respectively. All these institutions release multiple 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 get a more comprehensive understanding of the country's foreign exchange brokers, WikiFX survey team decides to go to Canada for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit the forex broker Morgan Stanley as planned according to its regulatory address that 181 Bay Street Suite 3700, P.O. Box 776 Toronto ON M5J 2T3.

On November 27, 2023, the investigators arrived at 181 Bay Street in Toronto of Ontario, Canada for a visit to the companys office, and located a modern commercial building, Bay Wellington Tower, in Brookfield Place. The bustling streets nearby were packed solid with people.

After accessing the building for further investigation, the survey personnel didnt spot a directory in the lobby save for a reception area and security guards.

And then the team arrived at the 37th floor of the tower by the elevator, and saw the related information of Morgan Stanley from the floor directory. According to the security staff in front of suite 3700, people weren‘t permitted to enter the office without an access card, and taking photos wasn’t allowed. However, the company name of “Morgan Stanley” could be seen outside the office.

Based on the on-site survey, it is confirmed that the company does have a physical presence at the place.

Conclusion

The survey team went to Canada to visit forex broker Morgan Stanley as scheduled, and found the companys name at the regulatory address. This signifies that the broker truly 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.