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 MOGAFX as planned according to its regulatory address that MOGA INTERNATIONAL GROUP PTY LTD, Room 9 Level 26, 1-7 Bligh Street, Sydney NSW 2000.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the broker MOGAFX at 1-7 Bligh Street in Sydney, Australia.

A 26-story modern office tower situated in the bustling central business district with convenient transportation and a strong commercial atmosphere. According to available information, MOGAFX claims its office is in Room 9 on the 26th floor. Upon arrival, the investigators first verified the building's exterior, finding clear signage and well-maintained appearances that meet standard commercial building specifications.

Before entering the building, the investigators attempted to locate any signage for “MOGAFX” or “MOGA INTERNATIONAL GROUP” on the directory board but found no relevant company names listed. A subsequent perimeter check of the building's exterior also revealed no signage or logos bearing the company name.

The building entrance features an electronic access control system requiring authorized keycard entry. The investigators attempted to seek assistance from reception or security personnel but were unable to obtain access permission, thus preventing further verification inside the lobby.

While MOGAFX's office is reportedly located in Room 9 on the 26th floor according to the address information, access restrictions prevented the investigators from reaching that level via elevators or stairwells. Additionally, no floor directories or company identifiers were displayed in the building's common areas such as elevator lobbies.

Through the on-site investigation, it is unconfirmed whether or not MOGAFX has a physical presence at the location.

Conclusion

The survey team went to Australia to visit broker MOGAFX as scheduled, but did not find the companys name at its regulatory address. Therefore, it cannot be confirmed whether the broker maintains a physical office at the above place. Accordingly, investors are advised to make an informed decision following much deliberation.

Disclaimer

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