Reason for this visit

Australia boasts a profound trading culture and a world-recognized regulatory environment. And currency markets are very popular there. Australia's top currency brokers reportedly have more daily trading volume than cash trades in Australian stocks. There are three trading sessions - Asia Pacific, Europe, and the United States. Located in the Asia Pacific region, Australia is the first country to start trading forex and commodities during the day. While the trading volume is relatively small at the beginning due to the time difference, the addition of Japanese traders after a few hours can make the trading volume larger. Australia is home to abundant natural resources like oil and coal, base and precious metals as well as grains. The physical trading of these products in global markets has helped a robust derivatives market, with active participation by both retail and institutional investors. Many exploration and production companies are publicly traded on the securities market, making Australian equities highly liquid and risky. In addition, many commodities are priced in USD, EUR and JPY, which contributes to a highly liquid currency trading environment. The physical delivery nature of Australias thriving export market supports both forex spot and forward markets. Demand for resources may provide a potential exchange rate basis for its currency. 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 FPG (licensee: FORTUNE PRIME GLOBAL CAPITAL PTY LTD) as planned according to its regulatory address that Suite 5, Level 1, 18 Prospect St, Box Hill VIC 3128.

The investigators arrived at 18 Prospect Street in Box Hill of Melbourne, capital of the state of Victoria, Australia for a visit to the broker‘s office on December 7, 2023, and located a modern commercial building at a remote street. In close proximity to numerous office structures, the building is easily accessible via public transports adjacent to multiple railway stations, trolleybus stops, and bus stops. Additionally, there’s a good surrounding environment filled with a wealth of green plants.

Upon arrival at the building for further investigation, the survey personnel spotted a lobby directory, which displays that suite 5 on the 1st floor is occupied by “Fortune Prime Global”.

Upon access to suite 5, the company name and logo of “FPG” could be seen conspicuously. The inquiry team received a warm welcome and conducted a visit to the brokers office, accompanied by their staff. There were multiple separate rooms with approximately 30 cubicles in the well-furnished office with a neat and tidy working environment.

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

Conclusion

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

Disclaimer

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