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 Forex sport as planned according to its regulatory address that Dion Ciavola, Level 2, 100 Collins Street, Melbourne VIC 3000.

The investigators arrived at 100 Collins Street in Melbourne of Victoria, Australia for a visit to the broker‘s office on December 23, 2023. As one of the oldest streets in Australia, Collins Street has stood the test of time alongside the city for over a century. Today, the street is renowned as Australia’ s premier street, not only for being the cultural heart of Melbourne but also as one of the top ten luxury shopping streets in the world, often referred to as Australias “Wall Street” of finance.

Surrounded by commercial buildings, this coveted location is easily accessible via different means of public transports in close proximity to multiple stations such as Collins Street station and Spring Street station.

Upon arrival at the building where Forex sport was located for further investigation, the survey personnel spotted easily a directory in the lobby, which displayed conspicuously that Forex sport was situated on the 4th floor.

After reaching the 4th floor via the lift, the inspection team discovered Forex sport‘s office with ease, with its company name and logo presented clearly 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 office, and the specific company size of the broker is unknown.

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

Conclusion

The survey team went to Australia to visit broker Forex sport as scheduled, and found the companys 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.