Inspection Reason

Recently, the inspection team received many phone calls from investors who expressed the hope of exposing more licensed Australian brokers whose real addresses were inconsistent with those stated in the regulatory information. In response, the investigation staff decided to set out for 8BX.COM, a licensed Australian broker for a field survey.

Company Building

According to the regulatory information, 8BX.COM’s office address is 704 8 Help St Chatswood NSW 2067. The investigators went to visit the spot.

Featured Photo

The investigators found the office building as stated in the regulatory information without much effort. After gaining access to the building, they spotted the suite number quite visible on a corner column.

But 8BX.COM’s company name was not shown on the floor guide in the lobby. In order to ensure the quality of the survey, the surveyors took the elevator to the 7th floor, but still found nothing other than another company’s logo from the notice board .

The survey personnel then came to the suite as shown in the regulatory information, only to find that it’s the office of a migration and education service provider. Reluctant to give up, they searched the entire floor, yet still the broker was nowhere to find. So they had to call it a day.

Inspection Conclusion

As confirmed by the field inspection, 8BX.COM’s real address is inconsistent with that in the regulatory information. The broker holds two Authorised Representative Licenses (license numbers: 001273788,001277959) issued by the Australia Securities & Investments Commission, and a Common Financial Service License (license number: 0515642) issued by the National Futures Association, all of which are suspected to be cloned licenses.