Reason for this visit

Canadas forex market is highly unique. While the country has a centralized financial regulator—the Canadian Securities Administrators (CSA)—overseeing the broader financial sector, retail forex trading is primarily regulated by the Investment Industry Regulatory Organization of Canada (IIROC), a self-regulatory organization operating under the CSA. Established in 2008, the IIROC has independently built many low-level regulatory bodies supervising three regions and ten provinces respectively with their own 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 gain a more comprehensive understanding of forex brokers in Canada, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit forex broker AscendantFX as planned according to its regulatory address that 150 King Street West, Suite 1902 (P.O. Box 14) Toronto, ON, Canada M5J1J9.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker AscendantFX at 150 King Street West in Toronto, Ontario.

The target address is located at 150 King Street West in Torontos central business district, an area renowned for its concentration of financial institutions and professional service firms. The inspection team successfully arrived at the building, a modern high-rise with a glass curtain wall facade, approximately 30 stories tall. The surrounding streets were densely populated with pedestrians and offered convenient transportation access, characteristic of a bustling commercial hub.

While the prominent floor directory was displayed at the building entrance, no AscendantFX branding was observed. The team proceeded to the lobby, which featured security personnel and a reception desk in a well-maintained, tightly controlled environment. Upon inquiry, security staff confirmed that Suite 1902 was located on the 19th floor for offices and granted access.

To conduct a thorough assessment, the team ascended to the 19th floor. The level featured an open-plan workspace with multiple private offices lining the corridors. Suite 1902 displayed “AscendantFX” signage on its door but lacked a dedicated reception area or stationed personnel. Through the door gap, employees were visible working at their stations, with monitors displaying trading interfaces consistent with the firms purported operations. Preliminary observations indicated 5-8 individual rooms and approximately 25 workstations.

Through the on-site investigation, it is confirmed that the broker maintains a physical presence at the location.

Conclusion

The survey team went to Indonesia to visit forex broker AscendantFX as scheduled and found the company at the regulatory address. It indicates that the broker has a physical office at the place. Meanwhile, investors are advised to make a judicious decision following much deliberation.

Disclaimer

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