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 the Financial Conduct Authority (FCA), one of the world's three most stringent regulatory bodies. Many FX brokers take obtaining FCA regulation for pride in the hope of entering the country to develop business in local market. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange brokers in the UK, WikiFX survey team is going to the country for on-site visits to them.

On-site visit

In this issue, the survey team went to London, UK to visit the foreign exchange broker CFSM Trader (CFS Management Ltd.) as planned according to its regulatory address that 55 Riding House Street, London, W1W 7EE, United Kingdom.

With the help of navigator map, the investigators came to the destination on June 1 in central London. Located in Londons bustling CBD, 55 Riding House Street, a terraced house, is ranked as the most expensive property in W1W 7EE.

The survey personnel didn‘t find a reception desk but a communicating device installed on the exterior wall in the aftermath of the arrival at the target building. According to the information displayed on the device, there’s a company called “CFS” in the building without any details. The investigators tried to reach out to the staff working for the company via the building interphone system, but no one answered, which just indicates that CFS exists there. However, it doesnt mean that the company is broker CFSM Trader (CFS Management Ltd.).

Through an on-site investigation, it is confirmed that CFSM Trader doesnt have a physical presence here.

Conclusion

The survey personnel went to London, UK to visit the forex broker CFSM Trader as scheduled, but didn‘t find the company’s office at the address, which suggests that it just registered with the address without a physical business office there. Therefore, investors are advised to choose the broker carefully.

Disclaimer

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