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 gain a more comprehensive understanding of forex brokers 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 BOQ as planned according to its regulatory address that “BOQ Village” Level 6, 100 Skying Terrace, Newstead, QLD 4006.

The investigators came to 100 Skying Terrace in Newstead of Brisbane in Queensland, Australia for an on-site visit to the broker‘s office, and located a modern commercial building in the city’s central business district. This prosperous area offers a diverse range of facilities nearby, including eateries, shopping malls, and entertainment options.

Upon arrival at the building for further investigation, the survey personnel spotted easily a directory in the lobby, which prominently displayed that the whole building was occupied by BOQ. In the meantime, people were prohibited from entering without an access card or an appointment in advance. Thus it was not feasible to assess the operational scale and work environment of the broker. According to the security officer on duty, the building was indeed owned by BOQ.

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

Conclusion

The survey team went to Australia to visit broker BOQ as scheduled, and found the company at its regulatory address. It 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 for informational purpose only, and shall not be taken as a final order for making a choice.