Inspection

The inspection team continued the field-survey campaign as part of its efforts in checking the authenticity of the forex brokerage industry. For this session,the inspection team sent its survey team during the Chinese National Day to New Zealand to visit broker OTT TRADING. 

Office

According to the address as its regulatory status displays, OTT TRADING’s office in New Zealand is at Suite 3d, Krukzeiner House, 17 Albert Street, Auckland Central, 1010, New Zealand. The survey team visited the place. 

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The surveyors found the office building according to the address relatively smoothly. No sooner had they arrived than they rushed into the building. A run-down directory sign in the lobby on the ground floor shows that the Unit 3D belongs to Oriental Times Group. 

The surveyors then took an elevator to the Third Floor, where the company nameplate on the wall also said that the 3D Unit was home to Oriental Times Group.

The surveyors came to Oriental Times Group’s office, rang the doorbell, and a Chinese person opened the door. The surveyors immediately asked him whether OTT TRADING was working in this room, and got a positive answer. The man also explained that due to it was during the National Day holiday, not too many people were available at the office.

Conclusion

As confirmed by the surveyor's field survey, the  New Zealand licensed broker OTT TRADING's real address matched with its regulatory address. The broker's financial service company license issued by FSPR  has been canceled. The license also indicated the broker went beyond the authorized business scope.