Inspection Reason

Recently, the inspection team received many phone calls from investors who expressed their hope of more exposure of Australian brokers whose addresses from regulatory information are bogus. In order to help investors identify brokers that are suspected of operating in violation of regulations, the inspection staff went on a field trip to the Australia office of JB Alpha.

Company Building

According to regulatory information, the address of JB Alpha is Ground Floor, 61 Spring Street, Melbourne VIC 3000. The inspectors set out for the premises.

The surveyors easily found the historical office building and noticed a floor guide outside of it, which shows no information about the broker at all.

Featured Photo

The staff walked around the ground floor in search of the broker. However, neither its office nor its logo were found. Instead, the ground floor houses another company named Alpha Equities & Futures Limited.

Inspection Conclusion

The field survey verified that JB Alpha’s real address is inconsistent with that from regulatory information. The broker’s MM license (license number: 327075) issued by the Australian Securities and Investments Commission is suspected to be a cloned one. Investors are advised to stay cautious against this broker to prevent financial losses sinceit is likely to be unregulated.