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, UK to visit foreign exchange broker Swissquote (licensee: Swissquote Ltd) as planned according to its regulatory address that Boston House, 63-64 New Broad Street, London, EC2M 1JJ, United Kingdom.

With the help of navigation map, the investigators came to the Boston House at 63-64 New Broad Street in Central London on July 21, 2023. The Grade A office building occupies a desirable position on the south side of the junction between New Broad Street and Old Broad Street. Meanwhile, the building characterized by novel façade comprising red bricks and white stones is situated in a primary commercial center teeming with people. The nearby streets are clean and busy.

After arriving at the independent commercial house, the survey personnel found a company directory and intercom device outside the building. From the company directory, it could be seen that “Swissquote Ltd” was positioned on the 4th floor. And then the investigators communicated with the staff working on the 4th floor via the intercom system, and knew that Swissquote was still operating business in the building. But people werent allowed to pay a visit to the target floor without an appointment.

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

Conclusion

The investigators went to London, UK to visit forex broker Swissquote as scheduled, and spotted its company name at the regulatory address. It suggests that the company has a physical business office at the location. Unfortunately, the survey personnel were unable to enter the company for a special visit, so the specific scale of its business is unknown. Therefore, 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.