Reason for this visit

As the world‘s third largest economy, Japan is the one of the forex trading hubs in Asia-Pacific. JPY has become one of the major currencies on forex trading market as the global trade and capital flow expands. The country boasts a large scale forex spot market, with an average daily transaction volume of around 300 billion US dollars. Institutional investors are the main participants, while the proportion of individual investors rises steadily. In the meantime, the Financial Services Agency (FSA) and the Securities and Exchange Surveillance Commission (SESC) in Japan impose more stringent regulations on forex brokers, requiring them to verify the customers’ identity and hold sufficient funds. Recent years have witnessed the rise of online trading platforms. In brief, with an increasingly strict regulatory rules, Japans forex market is set to embrace bright prospects – or a more stable global role for JPY. In an attempt to help investors better understand the current situation of forex brokers in Japan, 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 Japan to visit forex broker DAIMAN as planned according to its regulatory address that 3-11-31 Nishiki, Naka Ward, Nagoya City, Aichi.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker DAIMAN at Nishiki I.G. Building in Nagoya City, Aichi.

The target address is located in Nishiki 3-chome, Naka Ward, Nagoya, within a bustling central business district (CBD). Upon arrival, the investigators first observed the surrounding environment. The area is characterized by towering modern office buildings, typical of an urban CBD landscape. As the survey was conducted on a Sunday, foot traffic around the streets and buildings was noticeably lighter compared to weekdays. The area benefits from convenient transportation, and the survey team noted multiple nearby parking facilities, providing ample parking for visitors and employees.

The inspection team conducted an external inspection of the building, searching for dedicated signage or company plaques related to the broker. On the buildings exterior and near the main entrance, clear and prominent signage displaying the company name “DAIMAN” and its logo was easily identifiable.

However, no logos or markings related to DAIMAN were found in the building‘s interior public areas. Upon inquiry, the survey team confirmed that the company’s office is located within the Nishiki I.G. Building. Unfortunately, the team was unable to conduct an internal inspection, photograph the office interior, or verify the companys exact scale of operations.

Through the on-site investigation, it is confirmed that the company maintains a physical presence at the place.

Conclusion

The survey team went to Japan to visit forex broker DAIMAN as scheduled and found the company at its regulatory address. This signifies that the broker has a physical office at the location. However, the actual office size of the broker cannot be verified due to the entry restriction. Accordingly, investors are advised to make a sensible decision following much deliberation.

Disclaimer

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