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 77 Securities (licensee: 七十七証券株式会社) as planned according to its regulatory address that 2nd floor, Shin-Sendai Building, 1-1-30 Omachi, Aoba Ward, Sendai, Miyagi 980-0804.

On November 21, 2023, the investigators came to Shin-Sendai Building at 1-1-30 Omachi in Aoba Ward of Sendai, Miyagi. The building is located at a crossroad on the left side of Aoba-dori Avenue in close proximity to Sendai Station on the JR line and Fujisaki Department Store. And the branch office of Bank of Japan in Sendai is situated almost opposite the street. However, there was no any sign of 77 Securities outside the building featuring curved eaves and glass façade.

After accessing the building for further investigation, the survey personnel didnt spot any directory, digital signage or poster in the lobby, nor any stores save for 77 Securities ATM.

And then the team arrived at the 2nd floor of the building, where the floor directory showed that the entire floor was occupied by “七十七証券株式会社”, apart from the related information such as company name, conference room location. In the meantime, the company name of “77 Securities” and “七十七証券株式会社” and its reception area could be seen at the entrance of the office.

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 77 Securities 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.