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 Axion Trade as planned according to its regulatory address that 9 3, 50 Clarence St, Sydney, NSW 2000.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker Axion Trade at 50 Clarence Street in Sydney, Australia.

The investigators arrived at 50 Clarence Street based on the registration information. The building is situated in Sydney's central business district. While the address included the street name and number, it failed to specify the floor or suite number, which posed potential challenges for subsequent verification.

Upon arrival, the investigators first examined the building's exterior. However, no signage or logos related to “Axion Trade” could be identified on the building's exterior. Attempts to access the lobby were unsuccessful due to restricted entry, limiting observations to the outside area only.

As the registration details did not indicate a specific floor number, the investigators focused their search on the 3rd and 9th floors based on professional judgment. A thorough inspection of the 3rd floor revealed no directory listings or directional signage referencing the company in common areas. A meticulous examination of all office nameplates on this floor similarly yielded no mention of “Axion Trade.”

The same comprehensive verification process was repeated on the 9th floor with identical results - neither hallway notices nor any shared workspace areas provided evidence of the company's presence in the building.

Through the on-site investigation, it is confirmed that Axion Trade does not have a physical presence at the location.

Conclusion

The survey team went to Australia to visit broker Axion Trade as scheduled, but did not find the company at its regulatory address. It denotes that the broker does not have a physical business office at the place. Accordingly, investors are advised to make an informed decision following much deliberation.

Disclaimer

The content is for informational purposes only, and shall not be taken as a final order for making a choice.