Inspection Reason

Recently, many investors called the inspection team, expressing their hope for the inspection team exposing Australia’s brokers, whose real addresses are inconsistent with the ones in their regulatory information. Given that, the investigators went to Australia for a closer look at MBG Markets.

Company Building

MBG Markets’s office address in the regulatory information is Suite 5 Level 22, 219-227 Elizabeth Street Sdyney NSW 2000. The investigators carried out a field trip to this licensed broker. 

Based on the regulatory information, the survey personnel have successfully found this relatively old company building.

Featured Photo

The personnel then entered the building, but found no information about MBG Markets on the signboard at the lobby of the ground floor.

Inspection Conclusion

The investigators, based on the result of the field trip, confirmed that MBG Markets’s real address failed to match with the one in its regulatory information. It holds a full licence (regulatory number: 416279) issued by Australian Securities and Investment Commission, a common financial service licence (regulatory number: 1425303) by Cayman Islands Monetary Authority, a retail forex licence (regulatory number: SIBA/L/14/1068) by British Virgin Islands Financial Services Commission and a common financial service licence (regulatory number: 119375) by Bundesanstalt für Finanzdienstleistungsaufsicht. Though the broker is under the regulation of the above institutions, one of which is an offshore regulatory, there are trading risks because the brokers’ address in the regulatory information is suspected to be fake.