First, although EE TRADE claims to operate under the Australian AR licence held by EE TRADE AU PTY LTD, which is verifiable in the ASIC database, the regulatory record does not list any official company domain name. This absence of a verifiable online identity raises significant concerns about the legitimacy of the entity operating under the EE TRADE brand, making it impossible to confirm that the company behind the website is the same as the one registered with the regulator. This lack of transparency creates regulatory uncertainty and undermines trust. Second, the AR licence held by EE TRADE AU PTY LTD is tied to a parent (AFSL) company whose regulatory authorisation explicitly prohibits accepting retail clients and is strictly limited to providing general financial product advice. However, EE TRADE's website actively promotes services such as "trading from $1", clearly targeting retail investors. Furthermore, the platform offers an investment trading interface and advertises account opening and trade execution services that involve order execution and full brokerage functions, which are well beyond the scope permitted by its claimed licensing status. Given these critical discrepancies, EE TRADE is operating in violation of Australian financial regulations. Therefore, we classify EE TRADE as a fraudulent broker.