Reason for this visit

Australia boasts a profound trading culture and a world-recognized regulatory environment. Currency markets are very popular in the country. Australian top currency brokers reportedly have more daily trading volume than cash trades in Australian stocks. The participants in Australian forex market include banks, forex brokers, investment companies, individual investors, etc. As a forex market regulator, the Australian Securities and Investments Commission (ASIC) supervises the behaviors of all participants and the operation of markets such as financial service, securities, futures, forex, and others. The ASIC is committed to protecting investors rights and interests and help them avoid market risks by using more stringent regulatory systems. With the further development of financial market and economy in Australia, the local forex market will continue to grow. In an attempt to help investors or practitioners gain a more comprehensive understanding of forex brokers in Australia, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Australia to visit broker Zammit as planned according to its regulatory address that Suite 904, 83 Mount Street, North Sydney, NSW 2060.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker Zammit at 83 Mount Street in North Sydney.

The target building was an office tower located in a bustling area, with ordinary surrounding streets and no significant commercial clustering, though it offered convenient transportation access. The team first conducted a preliminary external observation to confirm the buildings appearance matched the address description.

The buildings exterior was well-maintained, but no signage or logos related to “Zammit” were found. To further verify, the team attempted to enter the building and inspected the public directory (tenant listing) in the lobby. However, the directory did not list “Zammit” or any associated entities, leading to the preliminary conclusion that the company might not be registered at this location.

The inspection team then proceeded to inquire with nearby businesses and the building's security personnel for additional information. All interviewees stated they had never heard of any company named “Zammit” operating within the building.

Subsequently, the team attempted to gather further evidence and successfully photographed some common areas inside the building. However, they found no specific signage identifying “Suite 904” as belonging to any particular company. The only visible identification in the vicinity was for an entity called “The Professional Super Advisers.”

Through the on-site investigation, it is unconfirmed whether the broker maintains a physical presence at the location.

Conclusion

The survey team went to Australia to visit broker Zammit as scheduled but did not find the companys name at its regulatory address. It denotes that the broker does not have a physical office at the place. Accordingly, investors are advised to make an informed decision following much deliberation.

Disclaimer

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