There are many calls from investors asking for more disclosure of UK traders whose real office address was not in accordance with regulatory information. Given the feedback from the investors, the investigation team planned to pay a site visit to the UK broker Velocity.
According to the regulatory information, the UK licensed company Velocity was located at 2nd Floor Queens House 8-9 Queen Street Lonodn ec4n 1sp United Kingdom. The investigation team paid a site visit to the office.
The surveyors search Queen Street according to the regulatory information and GPS navigation. The surveyors were despaired that the GPS navigation unexpectedly brought the surveyors to the office building in which Santander Bank is located.
The surveyors made much effort and found Queen Street at last. However, the surveyors didn’t find the office building with building number 8 and 9 after walking around the street to and fro several times. The surveyors went back home fruitless.
The site investigation by the investigation staff confirmed that the UK licensed broker Velocity doesn’t exist. As was informed, the broker hold a financial service company license issued by FSP, and two investment advisory licenses issued by ASIC and FCA, without forex brokerage qualification. The broker goes beyond its licensed business scope and has risk at certain degree. Please choose the broker prudently to avoid fund loss.
2-5 years | Regulated in United Kingdom | Regulated in New Zealand | <…
Velocity Trade Limited
+44 20 3355 6336
The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.
Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.