Recently, many investors called WikiFX team hoping we could disclose more Australian brokers with fake addresses. In order to meet investors’ demand, our investigation team went to visit ILQ for a closer look.
According to the regulatory information, the address of ILQ in Australia is Level 10, 20 MarTin Place, SYDNEY NSW 2000. Our investigation staff visited the spot.
The office building indicated by the regulatory information was located in a prominent place. The investigators successfully found the relatively new building.
Then the survey personnel entered the building and found a floor guide in the lobby on the first floor. There was no information about ILQ on it. Instead, they saw the logo of REGUS.
In order to ensure the quality of the survey, the personnel took the elevator to the 10th floor and found that the entire floor belonged to REGUS. After consulting the receptionist of REGUS, the survey personnel learned that ILQ did not have an office in this building and only used REGUS’s meeting room if needed.
Based on the field survey, it was verified that the address of ILQ in Australia was inconsistent with that from the regulatory information. Although the broker held the MM license (regulatory No.424122) issued by Australian Securities and Investments Commission, its address in Australia failed to match with the one in the regulatory information. The investors should be serious in choosing this broker.
5-10 years | Regulated in Australia | Market Making(MM) | Non MT4/…
FairMarkets Trading Pty Ltd
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