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 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 KNR as planned according to its regulatory address that Level 15, 270 Adelaide Street, Brisbane QLD, 4000.

The investigators came to 270 Adelaide Street in Brisbane, Australia for a visit to the broker‘s office on July 5, 2024, and located a modern commercial building in the city’s central business district. As an important business activity center, the CBD is home to a wide range of renowned enterprises, financial institutions, and business organizations. In the meantime, the bustling street is lined with a large array of entertainment facilities like restaurants, shopping malls, and more.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which displayed that the 15th floor was occupied by “Rostron Carlyle Rojas Lawyers” instead of KNR.

After proceeding to the floor via the elevator, the inspection team failed to discover any information concerning KNR. Through the on-site investigation, it is confirmed that the broker does not have a physical presence at the location.

Conclusion

The survey team went to Australia to visit broker KNR as scheduled, but did not find the company at its regulatory address. This 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 purpose only, and shall not be taken as a final order for making a choice.