Inspection Reason

Recently, many investors called expressed their hope for exposure of Australia’s brokers, whose real addresses are inconsistent with the ones in their regulatory information. Given that, the investigators went to Australia for a closer look at Oracle FX .

Company Building

Oracle FX’s office address in the regulatory information is Level 13, 135 King Street, Sdyney NSW 2000. The investigators carried out a field trip to this licensed broker.      

The survey personnel have successfully found the company building, which was beside H&M.

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The personnel entered the building. Had looked through the floor signboard at the ground floor, they found the 13th floor was a co-working space owned by REGUS. Based on their work experience, the investigators thought that the information on the signboard might differ from the fact. Therefor, they took the elevator to the 13th floor to obtain an accurate survey result. But they did not find Oracle FX’s logo on the corridor. When asking the workers about the broker at REGUS’s reception area, the personnel were told Oracle FX was not there. 

Inspection Conclusion

The investigators, based on the result of the field trip, confirmed that Oracle FX’s real address failed to match with the one in its regulatory information. 

Besides, the broker is verified to run beyond the business scopes stated in its common financial services license (regulatory number: 548588) issued by Australian Securities and Investment Commission and the common financial services license (regulatory number: 402043) by National Futures Association. Moreover, the ASIC license is showed to be canceled and the NFA one to be unauthorized. Given that, investor should be serious in choosing this broker.