Inspection Reason

The inspection team continued its field survey campaign to inspect the forex industry’s authenticity through finding out those falsifiers that usually give themselves away once were checked addresses. For this session, the inspection team went to New Zealand to visit the broker QO Forex. 

Office

According to the address shown in its regulation details, the New Zealand broker QO Forex had its head office at Ecs Limited, Level 10, 21 Queen Street, Auckland. The inspection team went there for a field survey. 

The surveyors successfully found the office building according to the address. The New Zealand Stock Exchange is also based in this high-end office building.

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The surveyors entered the building, took an elevator to the 10th Floor as the address says, and found that the entire floor belonged to an office rental company called REGUS.

As an office rental company, REGUS would provide its own address as the address for companies that plan to move here but have not yet done so. Knowing this, the surveyors requested the front-desk staff to do a search for QO Forex, to find out whether it had or planned to have its office here. However, the result was negative. 

Conclusion

The surveyors do not find QO Forex’s office in New Zealand as per the address provided by it. Investigation also shows the company is not currently under any effective regulation and its statement of holding a Financial Services Provider license from FSPR is likely untrue.