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 しん証券さかもとas planned according to its regulatory address that 1-11-24 Ekinishihonmachi, Kanazawa City, Ishikawa Prefecture.

On January 31, 2024, the investigators came to 1-11-24 Ekinishihonmachi in Kanazawa of Ishikawa, Japan for a visit to the broker, and located a building at the street, which is easily accessible via different means of public transports within 13-minute walking distance from Kanazawa Station. In the meantime, the ads and logo of “しん証券さかもと” could be seen outside the building from a distance.

Upon arrival at the building for further investigation, the survey personnel were aware of the fact that people werent allowed to enter without an access card. Consequently, the inspection team failed to visit the company and take photos in its office, being unable to know its specific company size.

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

Conclusion

The survey team went to Japan to visit forex broker しん証券さかもとas scheduled, and found the companys name at its regulatory address. This signifies that the broker has a physical business office at the location. Unfortunately, the actual office size of the broker is uncertain due to the failure to pay an internal visit to the company and shoot pictures inside. 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.