Survey Reason

Recently, the inspection team received many investors’ phone calls with the hope of more Australia licensed broker whose addresses were not consistent with those declared by the supervision agency. Hence, the staff decided to leave for the Australia licensed broker Forman Forex to make an on-the-site investigation.

Company Building

According to the regulatory information, the address of the Australia licensed company Forman Forex was Level 18 Tower' B, 799 Pacific Highway, CHATSWOOD NSW 2067. The investigation staff visited the spot.

According to the regulatory information, they found the building and noticed the logo of ACY Securities above the door. They couldn’t wait to enter the building to attest whether Forman Forex set an office in the same building as ACY Securities did.

Exclusive

They learned from the floor guide at the ground floor that it’s ACY Securities rather than Forman Forex that set an office on the floor as the regulatory information showed. To guarantee the accuracy of the investigation, they came to the 18th floor by elevator and found out that the whole floor belonged to ACY Securities

Summary

According to the on-the-site investigation of the staff, it has been proved that the actual address of the Australia licensed company Forman Forex is inconsistent with that declared by the supervision agency. Investors shall be prudent before choosing the broker since the MM license (403863) issued by ASIC it holds has been proved to be cloned, and the Investment Advisory License (232374) issued by ASIC I holds shows that it is overrunning.