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 Hirose-fx (licensee: ヒロセ通商株式) as planned according to its regulatory address that MG Building, 1-3-19 Shinmachi, Nishi-ku, Osaka-shi, Osaka.

On November 3, 2023, the investigators came to 1-3-19 Shinmachi in Nishi-ku of Osaka, Japan, and located MG Building, which is easily accessible by public transport within 3-minute walking distance to the Yotsubashi Station.

In the aftermath of arriving at the mansion for further investigation, the survey personnel spotted that quite a few floors were vacant thanks to the refurbishment, and was permitted to visit upstairs after communicating with the staff working for Hirose-fx in the reception area of the building.

The floor directory in the building shows that the entire 5th floor is occupied by Hirose-fx (ヒロセ通商株式). And then the team accessed the 5th floor by the elevator and saw the brokers name and logo in its office. Unluckily, the team had no clue about the exact company size due to the failure to pay an internal visit to the office and take photos side.

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

Conclusion

The survey team went to Japan to visit forex broker Hirose-fx as scheduled, and found the company‘s name at its regulatory address. This indicates that the broker has a physical business office at the location. Unfortunately, the exact business size of the company is unknown as the team can’t access the office for an internal visit and taking photos is not allowed inside. Meanwhile, investors are advised to make a sensible decision 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.