Reason for this visit

The Canadian foreign exchange market is very unique. Despite being one country, there is a unified financial regulatory authority, the Canadian Securities Administrators (CSA), covering all financial sectors. But on the other hand, under the CSA there is the Investment Industry Regulatory Organization of Canada (IIROC), which was established in 2008 and is primarily responsible for the regulation of the retail foreign exchange market. In addition, the IIROC is independently divided into three regions and 10 provinces, each with its own regulatory environment. Unity and division are contradictory, which makes the Canadian forex market the most complex in the world. In order to help investors or practitioners get a more comprehensive understanding of the country's foreign exchange dealers, the survey team to Canada for site visits.

On-site visit

This time the survey team visited the dealer Allied Top FX in Canada, with the specific address at 250 CONSUMERS ROAD UNIT 1108 TORONTO, ON, CANADA M2J4V6.

Based on the above address, the surveyors went to the destination of this survey, a building located in the business district of Toronto. After entering the building, the surveyors searched the electronic directory by the initials "A" of the dealer, but they were unable to find the name of Allied Top FX.

Subsequently, the surveyors took the elevator upstairs, but found that the office in Room 1108 belonged to the accounting firm "Gold Key & Ke Wang CPA". Therefore, the surveyor confirmed that the dealer Allied Top FX did not have an office in this location.

Conclusion

The survey team went to Canada, to visit the dealer Allied Top FX and found no office at its business address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.

Disclaimer

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