Inspection Reason

As part of the efforts to inspect the forex brokerage industry’s authenticity,the inspection team continued its on-site investigation campaign. For this session, the inspection team came to Australia to visit MYFXPLAN.

Office

According to address shown in its regulation details, the Australian broker MYFXPLAN has its head office at Level 27, 25 Bligh Street, Sydney. The inspection team sent its survey staff there for a field survey. 

According to the address, the surveyors drove to this newish-looking office building. They entered the building and took an elevator to the 27th Floor.

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The surveyors did not find MYFXPLAN’s name on a company directory sign in the corridor, but noticed another broker Gleneagle and its three subsidiaries, Rubix FX, Global Prime and Centennial Property Group.

They then took a walk around and found that the whole floor was owned by the Gleneagle Group and had nothing to do with MYFXPLAN at all.

Conclusion

A field survey based on the address in its regulation details did not find MYFXPLAN’s office. The broker claims to hold a full license from the Australia ASIC (226199), but we suspect that the registration and licensing details could be fraudulent.