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 have a more comprehensive understanding of foreign exchange dealers 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 Bedbrook as planned according to its regulatory address that 40 Salvado Road, Wembley WA 6014.

The investigators arrived at 40 Salvado Road in Wembley of Western Australia for a visit to the broker‘s office on December 19, 2023, and spotted conspicuously the street sign and the company’s name “Bedbrook Mccarthy Private Wealth Management” beside the relatively quiet street. On the opposite side of the street was a giant home shopping center.

Upon arrival at the place where Bedbrook was located for further investigation, the survey personnel were rejected from entering by the security guard. After waiting outside for almost one hour, the inspection team just saw a few people enter the company.

Through the on-site investigation, its confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Australia to visit broker Bedbrook as scheduled, and found the companys name at its regulatory address. This denotes that the broker has a physical business office at the place. Meanwhile, investors are advised to make an informed decision following much deliberation.

Disclaimer

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