Inspection Reason

Recently, many investors called the inspection team in the hope of more exposure of Australian brokers whose real addresses are inconsistent with those stated in regulatory information. In response, the inspection staff went on a field trip to the office of licensed Australian broker MCS Forex.

Company Building

The address of MCS Forex, according to regulatory information, is Level 34, 101 Miller Street, North Sdyney NSW 2060. The inspectors set out for the premises.

The inspection team found easily the office building thanks to the quite visible street number.

Featured Photo

After gaining access to the building through the revolving door, the surveyors spotted a floor guide in the lobby which shows no information about MCS Forex at all.

As no listing on the floor guide doesn’t necessarily prove a broker’s not existing, the investigators came to the 34th floor by elevator to ensure the accuracy of the survey. It turned out that the entire floor is the premises of a mortgage company; the alleged office of MCS Forex doesn’t exist.

Inspection Conclusion

The field survey verified that MCS Forex’s real address is inconsistent with that from regulatory information. The broker’s investment advisory license (license number: 312912) issued by the Australian Securities and Investments Commission is suspected to be a clone.