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 them.

On-site visit

In this issue, the survey team went to London, UK to visit the foreign exchange broker Livemarkets Limited as planned according to its regulatory address that 12 Melcombe Place, London, NW1 6JJ, UNITED KINGDOM.

With the help of navigator map, the investigators came to the destination on June 2 in Londons bustling CBD. A commercial building is situated near the Marylebone Station. Convenient traffic allows commuters to access the location easily.

After reaching the building, The Office Group (TOG) Melcombe Place which offers premium flexible workspace, the investigation team found that there were no reception desk and company directory, as well as other contact information. And people weren‘t allowed to enter the shared office without a key and password. Therefore, the survey personnel were unable to access the broker’s office and to reach out to its staff. And it is unconfirmed that Livemarkets Limited has a physical presence here.

Conclusion

The survey personnel went to London, UK to visit the forex broker Livemarkets Limited as scheduled, but was unable to access the building at the location with its door closed. Therefore, it is uncertain that the broker has a physical business office here. And investors are advised to choose the broker cautiously.

Disclaimer

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