Inspection Reason

The inspection team continued its survey campaign as part of the efforts to check the authenticity condition within the forex sector. For this session, it came to visit a broker called GTS in Australia. 

Office

According to the company’s claimed licensing details, GTS is located at 100 WALKER ST, NORTH SYDNEY, NSW 2059. The inspection team sent its staff to this place. It has been known that the broker’s license has been canceled.

According to the address, the surveyors found a somewhat old-looking building.Upon entering the lobby, the surveyors checked the floor directory guide, but could not find any information about GTS. They then asked the front-desk staff whether there was a company called GTS based here, and got a negative answer. 

Conclusion

A field survey based on the company’s claimed address did not found GTS’s physical presence. The broker had an ASIC authorized representative license (No. 001274363), however, the license has been canceled now. Moreover, the field survey staff has confirmed the broker’s regulatory address is bogus. Discretion is suggested if trading with this broker.