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 CANDEAL as planned according to its regulatory address that 50 Bay Street Suite 1200 Toronto ON M5J 2Z8.

On November 30, 2023, the investigators arrived at 50 Bay Street in Toronto of Ontario, Canada for a visit to the broker‘s office, and located a modern commercial building with a panoramic view of downtown Toronto and its financial center. Additionally, the building is situated in the bustling street with a few minutes’ walk to the PATH underground pedestrian walkway and the Union Station.

Upon arrival at the building for further investigation, the survey personnel spotted security guards and a reception area in the lobby. In the meantime, the lobby digital directory displayed the company name of CANDEAL. However, people werent allowed to visit upstairs without an access card due to the stringent security rules, with security guards on patrol near the elevator.

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

Conclusion

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