Inspection Reason

As part of the efforts to check the compliance and integrity condition within the forex brokerage industry,the inspection team continued to conduct on-site surveys, as those bogus players would usually give themselves away once checked addresses. For this session, the inspection team  went to Australia to visit a firm named Spectrum. 

Office

According to address shown in its regulation details, the Australian broker Spectrum has its head office at Level 27, 25 Bligh Street, Sydney. The inspection team ’s survey staff went there for an on-site check. 

The surveyors found this black office building with transparent glass doors, and took an elevator to Level 27 as was indicated by the address.  

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The surveyors found a directory sign in the corridor listing the names of companies based there, but failed to find Spectrum’s name. 

The surveyors then walked around searching, but discovered that the whole floor belonged to the Gleneagle Group.

Conclusion

A field survey based on the address indicated in its regulation details did not find Spectrum’s office. The broker claims to hold a full license from the Australia ASIC (No. 337985.