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A Visit to Reach Markets in Australia -- No Office Found

Danger Australia

68-70 King Street, Melbourne, Victoria, Australia

A Visit to Reach Markets in Australia -- No Office Found
Danger Australia

Reason for this visit

Australia has a profound trading culture and a world-recognized regulatory environment. Currency markets are very popular there. Australia's top currency brokers reportedly have more daily trading volume than cash trades in Australian stocks. There are three trading sessions - Asia Pacific, Europe and the United States. Located in the Asia Pacific region, Australia is the first country to start trading forex and commodities during the day. Although the trading volume is relatively small at the beginning, due to the time difference, the addition of Japanese traders after a few hours can make the trading volume larger. The Europe trading session is the most traded in the global foreign exchange market. Australia is a country with abundant natural resources, rich in oil and coal, precious metals as well as grains. The physical trading of these products in global markets has led to a robust derivatives market, with active participation by both retail and institutional investors. Many exploration and production companies are publicly traded on the securities market, making Australian equities highly liquid and risky. In addition, many commodities are priced in USD, EUR and JPY, which contributes to a highly liquid currency trading environment. The physical delivery nature of Australia's thriving export market supports both spot and forward currency markets. Furthermore, China, which is one of Australia's largest trading partners and the world's second-largest economy, brings huge amounts of Australian natural resources into the country. China's influence as a consumer nation provides investors in the currency market with a natural trading partner. Demand for resources may provide a potential exchange rate basis for its currency. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange dealers in Australia, the survey team is going to the country for on-site visits.

On-site visit

This time the survey team went to Australia to visit the foreign exchange dealer Reach Markets as planned. The survey address is Level 8, 525 Flinders Street MELBOURNE VIC 3000.

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The survey personnel came to the destination of the current survey according to the above address. The destination is located in the busy inner-city area of Flinders Street - a tourist hotspot in central Melbourne and a major transport hub. The centuries-old Flinders Street Railway Station is still the busiest railway station in Melbourne. The survey personnel did not find the trader's name on the water sign in the lobby of the destination building, and therefore immediately went upstairs to look for it.

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The investigators found that the unit disclosed by the dealer belonged to a company named SEQUOIA, whose front desk staff said that there was no dealer Reach Markets operating there. Therefore, the investigators confirmed that the dealer's office does not exist there.

Conclusion

The survey personnel went to Australia to visit the foreign exchange dealer Reach Markets as planned, but did not find the dealer's office at its disclosed regulatory address, which is a situation of false supervision. Investors are advised to choose this dealer carefully.

Disclaimer

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

Broker Information

Exceeded
Reach Markets

Website:https://reachmarkets.com.au

2-5 years |Regulated in Australia |Investment Advisory License |Suspicious Scope of Business |Suspicious Overrun |High potential risk |
  • Company Name:
    Reach Markets Pty Ltd
  • Country/ Region of Registry:
    Australia
  • Company Abbreviation:
    Reach Markets
  • Official Email:
    admin@reachmarkets.com.au
  • Twitter:
    https://twitter.com/reach_markets?lang=en
  • Facebook:
    https://www.facebook.com/ReachMarkets/?ref=br_rs
  • Customer Service Number:
    00611300805795
Reach Markets
Exceeded

Website:https://reachmarkets.com.au

2-5 years | Regulated in Australia | Investment Advisory License | Suspicious Scope of Business | Suspicious Overrun | High potential risk |
  • Company Name: Reach Markets Pty Ltd
  • Company Abbreviation: Reach Markets
  • Country/ Region of Registry: Australia
  • Official Email: admin@reachmarkets.com.au
  • Twitter:https://twitter.com/reach_markets?lang=en
  • Facebook: https://www.facebook.com/ReachMarkets/?ref=br_rs
  • Customer Service Number:00611300805795

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