Reason for this visit

The forex market is extremely distinctive in Canada because 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 forex 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 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 Everforex as planned according to its regulatory address that Suite 21, 7010 Warden Ave., (at Warden/Steels) Markham, ON, L3R 5Y3 Canada.

The investigators came to 7010 Warden Avenue in Markham in Ontario, Canada for an on-site visit to the brokers office.

Upon reaching the 7010 Warden Avenue, the survey personnel made an initial observation of the surrounding environment. The target building was located on a less bustling street with a relatively tranquil atmosphere.

When arriving at the location, the inspection team discovered a money exchange shop, with Everforexs website www.everforex.ca displayed on the window. However, the shop was not operating at that time, and there was no notice on the door, which brought some uncertainty to this field survey.

The team conducted multiple inquiries in the surrounding area but were unable to obtain accurate information regarding whether the company was still operating normally. Due to the inability to enter the company premises for further inspection, it is currently unclear whether the company still exists at this address.

Through the on-site investigation, it is unconfirmed if the broker has a physical presence at the location.

Conclusion

The survey team went to Canada to visit forex broker Everforex as scheduled, but did not the companys name at the aforementioned address. It is not confirmed if the broker has a physical business office at the place. Meanwhile, investors are advised to make a sensible decision following much deliberation.

Disclaimer

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