Inspection Reason

In recent, quite a few investors made telephone calls to the inspection team, asking  for more frequent exposure of Australia licensed brokers whose regulatory addresses were not accurate. In order to help investors avoid being victimized of scams, the surveyor decided to go to the office of the Australia licensed broker RocoForex for more first-hand information.

Office Building

As indicated by the regulatory information, RocoForex , an Australia licensed broker, is located at Level 6, 360 Collins Street Melbourne VIC 3000. The surveyor decided to go to RocoForex ’s office for a field survey of the broker.

The surveyor found the the large office building smoothly according to the regulatory information. The office building was very modern. In order to complete the field survey task as soon as possible, the surveyor entered the building as indicated by the entrance signpost at once. 

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According to the field survey process, the surveyor checked the floor guide in the lobby. There was no information about the broker RocoForex. In order to confirm whether the broker had at least one office on the floor indicated by the regulatory information further, the surveyor took the elevator to Level 5 and found there was no information about the broker on the Level 5 directory.

The surveyor then came to Room 530 and found its was not RocoForex but a law firm that worked in the room.

Conclusion

It was confirmed by the surveyor’s field surveyor that the Australia licensed broker RocoForex’s real office address didn’t match its regulatory address. Since the broker’s full license (License No: 391441) issued by ASIC was confirmed to be a cloned license.