Reason for this visit

According to the Reuters, the United Kingdom has been expanding its leading role in the field of global foreign exchange trading since its public voting to leave the European Union. In addition, British retail foreign exchange market is regulated by the Financial Conduct Authority (FCA), one of the world's top three stringent regulatory bodies. Many foreign exchange brokers take pride in obtaining FCA license in the hopes of developing market business in the country. In order to help investors and practitioners to 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 local companies.

On-site visit

In this issue, the investigation team went to London, United Kingdom to visit the foreign exchange broker BMO Capital Markets (licensee: BMO Capital Markets Limited) as planned according to its regulatory address that 95 Queen Victoria Street, London, EC4V 4HG, United Kingdom.

The survey personnel came to the destination in a developed business area in downtown London on April 11, 2023, where a common commercial building is situated with huge crowds of people nearby walking on busy streets.

After arriving at the building, the survey team found that it had been closed for reconstruction by developer ISD. Meanwhile, the investigators knew that all companies had moved out from their offices in the building, except Fitness First which was still open on the ground floor.

Therefore, it is confirmed that BMO Capital Markets doesnt have a physical presence here.

Conclusion

The investigators went to Hong Kong to visit forex broker BMO Capital Markets as scheduled, and didn‘t find the company at its regulatory address, which indicates that it doesn’t have a physical business office here. Therefore, investors are advised to make a sensible choice based on 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.