Reason for this visit

Australia has a profound trading culture and a world-recognized regulatory environment. Currency markets are very popular there. Australia's top currency brokers reportedly have more daily trading volume than cash trades in Australian stocks. There are three trading sessions - Asia Pacific, Europe and the United States. Located in the Asia Pacific region, Australia is the first country to start trading forex and commodities during the day. Although the trading volume is relatively small at the beginning, due to the time difference, the addition of Japanese traders after a few hours can make the trading volume larger. The Europe trading session is the most traded in the global foreign exchange market. Australia is a country with abundant natural resources, rich in oil and coal, precious metals as well as grains. The physical trading of these products in global markets has led to a robust derivatives market, with active participation by both retail and institutional investors. Many exploration and production companies are publicly traded on the securities market, making Australian equities highly liquid and risky. In addition, many commodities are priced in USD, EUR and JPY, which contributes to a highly liquid currency trading environment. The physical delivery nature of Australia's thriving export market supports both spot and forward currency markets. Furthermore, China, which is one of Australia's largest trading partners and the world's second-largest economy, brings huge amounts of Australian natural resources into the country. China's influence as a consumer nation provides investors in the currency market with a natural trading partner. Demand for resources may provide a potential exchange rate basis for its currency. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange dealers in Australia, the survey team is going to the country for on-site visits.

On-site visit

This time the survey team went to Australia to visit the foreign exchange dealer SICH as planned. The survey address is 156 739 Sydney Rd Brunswick VIC 3065.

The survey personnel came to the destination of the current survey according to the above address. SICH's office is located on Sydney Road, Melbourne's longest shopping street, home to numerous small businesses as well as a variety of restaurants and coffee shops, clothing stores, places of worship and community services. It is known for its wedding boutiques, discount shopping and many specialty food stores. The whole street is full of 1-2 storey shops. The destination of this investigation is a single-storey shop along the street, and the name and phone number of the shop are posted on the wall. The investigators did not find any information about the dealer SICH on or around the building exterior.

The survey personnel consulted the store clerk for information about the trader SICH. It is said that the unit is a print shop that has been operating here for many years and the clerk has never heard of the trader SICH. Therefore, the investigators confirmed that the dealer SICH does not have an office there.

Conclusion

The survey personnel went to Australia to visit the foreign exchange dealer SICH as planned, but did not find the dealer's office at its disclosed regulatory address. The dealer may have just registered a company at this address without a real business venue. Please choose this dealer carefully.

Disclaimer

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