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 FXCM as planned according to its regulatory address that FXCM Australia Pty Ltd, Suite 214, 480 Collins Street Melbourne VIC 3000.

The investigators came to 480 Collins Street in Melbourne of Victoria, Australia for a visit to the brokers office on January 9, 2024, and located a modern commercial building in the vibrant downtown area. With a coveted location, the building is easily accessible via public transports, in close proximity to tram stations.

Upon arrival at the building for further investigation, the survey personnel spotted a digital directory in the lobby, which displayed that “FXCM” was situated in suite 214-216 on the 2nd floor.

After proceeding to the 2nd floor via the lift, the inspection team discovered easily suite 214, with the company name and logo of FXCM displayed prominently on the door. However, people weren‘t allowed to enter the working area without an access card. Therefore, the team failed to take photos in the broker’s office, where there were some staff members busy with work.

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 FXCM as scheduled, and found the companys information including name 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.