Reason for this visit

The foreign exchange market is extremely distinctive in Canada, since the country has its own financial authority, the Canadian Securities Administrators (CSA), which provides a unified management of all financial industries. Meanwhile, CSA set up its subsidiary body, the Investment Industry Regulatory Organization of Canada (IIROC), in 2008, which is primarily responsible for the regulation of the retail foreign exchange market. And the IIROC has independently built many low-level regulatory bodies supervising three regions and ten provinces respectively. All these institutions release multiple independent laws and regulations. The integration of unity and differentiation in regulation makes the Canadian forex market the most complex in the world. In order to help investors or practitioners to get a more comprehensive understanding of the country's foreign exchange brokers, WikiFX survey team decides to go to Canada for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit the forex broker RBC Securities as planned according to its regulatory address that 200 Bay Street, Royal Bank Plaza North Tower, P.O. Box 50 Toronto ON M5J 2W7.

On November 27, 2023, the investigators arrived at 200 Bay Street in Toronto of Ontario, Canada for a visit to the company‘s office, and located a modern commercial building, Royal Bank Plaza, at the corner of bustling Bay Street and Front Street. As one of the landmarks in Toronto’s financial district, the building boasts a fabulous location easily accessible via public transport in close proximity to various transportation hubs. The eye-catching company name and logo of “RBC” could be seen on the directory in front of the tower and at its entrance and exit.

After accessing the building for further investigation, the survey personnel spotted a reception area and security guards in the lobby. And the company name and logo of “RBC” could be found everywhere in the tower. According to the staff working inside, the North and South Tower of the building were owned by RBC.

Based on the on-site survey, it is confirmed that the company does have a physical presence at the place.

Conclusion

The survey team went to Canada to visit forex broker RBC Securities as scheduled, and found the companys name at the regulatory address. This signifies that the broker truly has a physical business office at the location. Meanwhile, investors are advised to make an informed 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.