Inspection Reason

Recently, many investors called the inspection team, expressing their hopes for the inspection team exposing more brokers whose real addresses are inconsistent with the ones in their regulatory information. Given that, the investigators went to Australia for a direct look at AGCAP FX.

Company Building

AGCAP FX’s company address in the regulatory information is Level 2, 33-41 Agnes Street, East Melbourne VIC 3002. The inspection personnel carried out a field survey.

Early in the morning, the inspection personnel drove to the street shown in the regulatory information and had a hard time finding the small office building which is also quite old.

Featured Photos

Afterwards, the inspection personnel entered the ground floor lobby, and checked the floor guide by the elevator. They found that the office at Level 2 is not AGCAP FX’s, but belongs to a non-financial institution. Regretfully, the inspection personnel were not allowed to go upstairs to confirm it.

Conclusion

The inspection team’s field inspection confirms the actual address of the licensed broker AGCAP FX in Australia doesn’t match the address indicated in the regulatory information. The broker’s investment consulting license (RN 304508) issued by ASIC has been canceled. As the broker is not regulated sufficiently at present, investors are advised to be prudent when choosing this broker to do business.