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 countrys 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 forex broker ASJ Forex as planned according to its regulatory address that 168 Queen St. Suite 105 Ottawa, ON, Canada K1P5V9.

On May 11, 2024, the investigators attempted to locate 168 Queen Street in Ottawa, the capital of Canada, for a visit to the brokers office. And the prosperous street is lined with a large array of entertainment facilities like restaurants, shopping malls, and more, appealing to a steady stream of people.

Upon arrival at the location close to 168 Queen Street for further investigation, the survey personnel discovered that there was no 168 on the street, but there was a 170 nearby.

Through the on-site investigation, it is confirmed that ASJ Forex does not have a physical presence at the place.

Conclusion

The survey team went to Canada to visit forex broker ASJ Forex as scheduled, but did not find the companys name at the regulatory address. This signifies that it might just register with the address without a physical business office at the location. Accordingly, investors are advised to make a sensible decision following much deliberation.

Disclaimer

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