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 is regulated by 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 the local companies.

On-site visit

In this issue, the survey team went to London in the UK to visit foreign exchange broker CWG Markets (licensee: CWG Markets Ltd) as planned according to its regulatory address that 76 Cannon Street, 3rd Floor, London, EC4N 6AE, United Kingdom.

With the help of navigation map, the investigators came to the 76 Cannon Street in a developed commercial area in Central London on August 29, 2023. An office building is situated in a bustling district near the European Bank and the economic and trade business center. Meanwhile, the building boasts a desirable location, just 10 meters away from the Cannon Street Station and 300 meters from the Bank Station, having convenient transportation.

After entering the commercial building, the investigators found the company directory in the foyer, from which it could be seen that “CWG Markets Ltd” was positioned on the 3rd floor.

According to the receptionist in the building, people werent allowed to visit without an appointment and registration. After making an appointment with the staff member of CWG Markets, the survey personnel were invited to pay a special visit to their office on the 3rd floor, where the conspicuous company name and logo was showcased. The whole floor occupied by the company comprises a public area, two independent conference rooms and a pantry room, with approximately 12 cubicles in a clean and neat working environment.

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

Conclusion

The survey team went to London in the UK to visit forex broker CWG Markets as scheduled, and spotted its company name and logo at the regulatory address. It suggests that the company has a physical business office at the location. Meanwhile, investors are advised to make a sensible choice based on an overall consideration.

Disclaimer

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