Reason for this visit

Australia boasts a profound trading culture and a world-recognized regulatory environment. Currency markets are very popular in the country. Australian top currency brokers reportedly have more daily trading volume than cash trades in Australian stocks. The participants in Australian forex market include banks, forex brokers, investment companies, individual investors, etc. As a forex market regulator, the Australian Securities and Investments Commission (ASIC) supervises the behaviors of all participants and the operation of markets such as financial service, securities, futures, forex, and others. The ASIC is committed to protecting investors rights and interests and help them avoid market risks by using more stringent regulatory systems. With the further development of financial market and economy in Australia, the local forex market will continue to grow. In an attempt to help investors or practitioners have a more comprehensive understanding of forex brokers in Australia, 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 Australia to visit broker UNforex as planned according to its regulatory address that 8, 99 Elizabeth Street, Sydney NSW 2000.

The investigators came to 99 Elizabeth Street in Sydney, NSW of Australia for an on-site visit to the broker‘s office, and located a modern commercial building in the city’s bustling central business district. Additionally, there is a large array of facilities nearby including eateries, cafes, shopping malls, and transit stations.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which did not display any information regarding “UNforex.” Meanwhile, the brokers logo was not found after searching all the floors in the building.

Through the on-site investigation, it is confirmed that the broker does not have a physical presence at the location.

Conclusion

The survey team went to Australia to visit broker UNforex as scheduled, but did not find the company at its regulatory address. This denotes that it does not have a physical business office at the place. Accordingly, investors are advised to make an informed 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.