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 OTT as planned according to its regulatory address that 5140 Yonge Street, Suite 510 Toronto ON M2N 6L7.

On December 14, 2023, the investigators arrived at 5140 Yonge Street in Toronto, the capital of Ontario, Canada for a visit to the brokers office, and located a modern commercial building at the bustling street in a commercial area.

Upon access to the building for further investigation, the inquiry team discovered a digital directory in the lobby but without security guards and reception area. The directory displayed the information pertinent to OTT. However, people werent allowed to visit and take photos in the office upstairs without an access card. Therefore, the specific office size of the broker is unconfirmed.

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

Conclusion

The survey team went to Canada to visit forex broker OTT 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.