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 foreign exchange dealers 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 BCR as planned according to its regulatory address that Suite 3, Level 18, 201 Elizabeth Street, Sydney, NSW 2000.

The investigators arrived at 201 Elizabeth Street in Sydney, the capital of the state of NSW, Australia for a visit to the broker‘s office on April 19, 2024. Elizabeth Street is one of the oldest and most famous streets in Sydney. It spans a total length of 8.6 kilometers, traversing through commercial and residential areas, churches, parks, train stations (Martin Place, St James, Museum, Central), schools, and more. At the northern end, there are landmark buildings such as David Jones and The Great Synagogue. The southern end also features some landmark buildings, including the Sydney Cricket Ground, Hyde Park, St Mary’s Cathedral and School, as well as the historic Waterloo Town Hall (which houses the Waterloo Library).

Upon access to the building for further investigation, the survey personnel spotted a directory in the lobby, which displayed prominently that BCR was located on the 18th floor.

After reaching the 18th floor via the elevator, the inquiry team easily discovered the eye-catching company name and logo of BCR at its reception area.

The inspection team was warmly welcomed by the staff of the brokerage firm, and was allowed to visit their internal office environment.

Guided by the attentive receptionist, the inspection team delved into the office of BCR. The interior design of the company exuded a simple yet elegant style, showcasing a professional atmosphere throughout. The first thing that caught their eyes was the BCRs working area, which was immaculate and well-organized, emanating an atmosphere of diligence and efficiency. Neatly arranged next to the desks were a series of prestigious awards, silently speaking of the remarkable achievements and outstanding contributions that BCR has made in recent years.

Subsequently, accompanied by the meticulous receptionist, the survey team proceeded to visit each of the meeting rooms and pantry areas of BCR. Each space exuded a warm and professional ambiance. As it was a working day, the office was bustling with activity, and the employees were fully engrossed in their work. Particularly noteworthy was the well-equipped and advanced trading room, where employees were utilizing these tools to professionally track and analyze market trends, showcasing their exceptional business skills and keen market insights.

Through the on-site investigation, its confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Australia to visit broker BCR as scheduled, and found the company at its regulatory address. This denotes that the broker has a physical business office at the place. Meanwhile, investors are advised to make an informed decision following much deliberation.

Disclaimer

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