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Melbourne, Victoria, Australia
Reason for this visit
Australia boasts 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, 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, WikiFX survey team is going to the country for on-site visits.
On-site visit
In this issue, the investigation team went to Melbourne, the largest (most populous) city in Australia and the capital of state of Victoria, to visit the foreign exchange broker IG (licensee: IG AUSTRALIA PTY LTD) as planned according to its regulatory address that Level 15, 55 Collins Street, Melbourne VIC 3000.
The survey personnel came to the destination at 55 Collins Street, Melbourne on February 13, 2023, which is located in the symbolic retail and hotel area in Melbourne CBD, with convenient transportation, food center Flinders Lane, and sports and entertainment facilities. And the location boasts a clean environment, with huge crowds of people on the nearby streets.
After entering the building, the investigators arrived at the room on the 15th floor, where broker IGs logo could be clearly seen on the transparent glass curtain wall, through which the survey team also witnessed the light, lofty, and clean office interior. Unfortunately, the team was unable to pay a special visit and take photos inside.
After an on-site investigation, it is confirmed that the broker has a physical presence here.
Conclusion
The investigators went to Australia to visit forex broker IG as scheduled, and found the brokers information like company name at its registered regulatory address, which indicates that the company has a physical business office. And investors are advised to make a sensible choice based on a comprehensive consideration.
Disclaimer
The content is used for informational purpose only, and shall not be taken as a final order for making a choice.
Website:https://www.ig.com/en
Website:https://www.ig.com/en
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