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Field Survey

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    A Visit to Velocity in New Zealand - Fake Address

    New Zealand
    2019-10-3
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    Exceeded
    Velocity Trade
    Score 4.63
    Negative
    Details

    Survey Reason

    Recently many investors called the inspection team hoping we could disclose more New Zealand brokers with fake addresses. In order to meet investors’ demand, the investigation team were going to visit Velocity in this episode.

    Building Survey

    According to the regulatory information, the company address of Velocity is Level 3, 41 Shortland Street Auckland. The investigation staff visited the spot.

    Exclusive

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    The investigation staff found the AIG building on the regulation information smoothly. The renovated building looked good.

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    Afterwards the investigation staff took the elevator to the 3rd floor. The names on the wall indicated there were 3 companies on this level and the broker’s name was not included. To ensure the investigation is authentic, the investigation staff inquired of the receptionist from one of the companies whether Velocity operated in the building but the staff was ignorant of the broker.

    Survey Conclusion

    It is ascertained by the investigation staff that the address of Velocity is inconsistent with that from the regulatory information. The broker overruns the business scope regulated by New Zealand FSPR licence(No.20003), ASIC Financial Advisor licence(No.329813) and FCA Financial Advisor licence(No.497263). 

    Broker Information
    Exceeded
    Velocity Trade

    Website：https://velocitytrade.com/

    2-5 years | Regulated in United Kingdom | Regulated in New Zealand | <…

    Company Name：

    Velocity Trade Limited

    Company Abbreviation：

    Velocity Trade

    Official Email：

    sales-uk@velocitytrade.com

    Customer Service Phone Number：

    +44 20 3355 6336

    Country/Area of Registry：

    Australia

    Twitter：

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