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 WHIZFX as planned according to its regulatory address that L´Orient Legal, Suite 604, 265 Castlereagh Street, Sidney NSW 2000; DX11558 Sydney Downtown.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker WHIZFX at 265 Castlereagh Street in Sydney, Australia.

The site inspection is located at 265 Castlereagh Street in the heart of Sydney's central business district, a bustling commercial area surrounded by office buildings and with convenient transportation. The target building is a modern high-rise with a clean exterior façade, and no visible signage indicates the presence of WHIZFX. Based on on-site observations, the area is primarily occupied by legal and financial firms, which aligns thematically with WHIZFX's claimed financial services business.

The investigators successfully entered the building lobby, which was clean but relatively plain, with no security personnel or access restrictions. The lobby directory listed “Suite 604” as occupied by “LOrient Legal,” with no mention of “WHIZFX.”

The investigators took the elevator to the 6th floor, where clear signage directed them to Suite 604. However, the doorplate distinctly identified the office as “LOrient Legal,” with no visible signage or logo related to WHIZFX. Through the glass, a typical law firm layout was visible, including private offices, meeting areas, and approximately 30 workstations—significantly different from the open-plan workspace expected of a financial trading firm.

The inspection team attempted to enter the office for further verification but was stopped by the receptionist, who stated, “Non-clients are not permitted inside.” The staff clarified that the address was exclusively used by LOrient Legal and they had no knowledge of WHIZFX operating there. Additionally, the building management confirmed that Suite 604 had been leased long-term by the law firm with no records of shared occupancy by other companies.

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

Conclusion

The survey team went to Australia to visit broker WHIZFX 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.