Recently, many investors called WikiFX team in the hope of more exposure of Australian brokers whose real addresses are inconsistent with those stated in regulatory information. In response, our inspection staff went on a field trip to the office of licensed Australian broker MCS Forex.
The address of MCS Forex, according to regulatory information, is Level 34, 101 Miller Street, North Sdyney NSW 2060. The inspectors set out for the premises.
The inspection team found easily the office building thanks to the quite visible street number.
After gaining access to the building through the revolving door, the surveyors spotted a floor guide in the lobby which shows no information about MCS Forex at all.
As no listing on the floor guide doesn’t necessarily prove a broker’s not existing, the investigators came to the 34th floor by elevator to ensure the accuracy of the survey. It turned out that the entire floor is the premises of a mortgage company; the alleged office of MCS Forex doesn’t exist.
According to current data, the broker uses counterfeit trading softwares. Please be aware of the risk!
The field survey verified that MCS Forex’s real address is inconsistent with that from regulatory information. The broker’s investment advisory license (license number: 312912) issued by the Australian Securities and Investments Commission is suspected to be a clone. Investors are advised to choose the broker carefully to prevent financial losses since the broker has been proved illegal and unregulated.
Scam Brokers | 2-5 years | Suspicious Regulatory License | Counter…
MACKAY COMMODITY SERVICES PTY LTD
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