Reason for this visit

The foreign exchange market is extremely unique 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 Odlum Brown as planned according to its regulatory address that 1100 - 250 Howe Street, Vancouver, BC, V6C 3S9.

The investigators arrived at 250 Howe Street in Vancouver of British Columbia, Canada on November 17, 2023, and located “PwC Place”, an office building, at the northeast corner of Howe Street and Cordova Street in a prosperous commercial area of the city center. The building boasts a fabulous location, which is effortlessly accessible via public transport.

In the aftermath of accessing the building for further investigation, the survey personnel spotted a directory in the lobby, which displayed that the entire 11th floor was rented by Odlum Brown. And then the team arrived at the floor by the lift, and clearly saw the company‘s name, logo, and reception area through the glass door of its office. However, people weren’t allowed to enter the office without an access card.

Based on the on-site survey, it is confirmed that Odlum Brown does have a physical presence at the place.

Conclusion

The survey team went to Canada to visit forex broker Odlum Brown as scheduled, and found the companys name at the regulatory address. This indicates that the broker truly 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.