Reason for this visit

Australia has a deep trading culture as well as a world-recognized regulatory environment. Currency markets are very popular in Australia. According to reports, the daily trading volume of top currency brokers in Australia is larger than the cash trading volume of Australian stocks.

Typically, forex trading is divided into three trading sessions, Asia Pacific, Europe and the United States. Australia is located in the Asia Pacific region and is the first country to start trading forex and commodities during the day. The trading volume is relatively small at first and becomes larger due to the time difference, with the addition of Japanese traders a few hours later. Europe has the largest trading volume in the global Forex market.

At the same time, Australia is a major natural resource country, rich in oil and coal, base and precious metals and grains. The physical trading of these products in the global market has led to the creation of a strong derivatives market in which both retail and institutional investors are active. Many exploration and production companies are publicly traded on the stock market, making Australian equities highly liquid and risky.

With many commodities priced in dollars, euros and yen, this has naturally led to a highly liquid currency trading environment. And the physical delivery nature of Australia's thriving export market supports both spot and forward currency markets.

Furthermore, China is one of Australia's largest trading partners. As the world's second largest economy, China brings a significant amount of Australia's natural resources into the country. China's influence as a consumer country provides a natural trading partner for investors in the currency market. The demand for resources may provide a potential exchange rate base for its currency.

In order to help investors or practitioners get a more comprehensive understanding of foreign exchange dealers in Australia, the survey team is going to the country for field visits.

On-site visit

This time the survey team visited the dealer Arena Trade in Australia, with the specific address at Suite 103, 566 St Kilda Road MELBOURNE VIC 3004.

Based on the above address, the survey team came to the destination of this survey. Arena Trade's office in Australia is located on St Kilda Road in Melbourne, which along with Swanston Street forms the main spine of the city. Linking Melbourne's CBD to the suburbs, it became a business hub after being replaced by numerous offices in the 1950s and 1980s. It has also been the site of many large apartment developments since the 1990s. The destination is a small building with a compact and somewhat depressing interior, but it is clean and well-lit. However, the surveyors were unable to find the name of Arena Trade on the directory inside the building.

The surveyor searched the 1st floor of the building and found that the address disclosed by the dealer was the office of a tax and accounting company. And there was no Arena Trade office in the building. After checking with the receptionist, the surveyors confirmed that the dealer did not have an office there.

Conclusion

The survey team went to Australia to visit the dealer Arena Trade as planned, and found no office at its regulatory address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.

Disclaimer

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