Purpose

The UAE foreign exchange market is an emerging offshore forex trading market developed over the past two decades. Leveraging Dubai's geographical advantage as the Middle East financial hub, it has attracted a large number of forex brokers serving global investors. The region features a diverse trading ecosystem and a relatively open regulatory environment. To help investors gain a more comprehensive understanding of the real operating conditions of forex brokers in the region, we conducted an on-site visit to the UAE.

Process

This visit proceeds to the UAE as planned for an on-site visit of forex broker MAHIR FX. According to public information, its office address is Office no. 304, Dubai Diamond plaza, Al Dhagaya Gold Souk, Deira Dubai, UAE.

A professional and experienced inspection team, driven by a sense of mission to strictly safeguard investors, went to the United Arab Emirates according to a carefully planned itinerary to conduct an on-site inspection of the broker MAHIR FX claimed to be located at this address.

After arriving smoothly at the target area, the map showed that the building had been permanently closed, and the entire site had no commercial office operation open to the public. There were also no signs or promotional materials related to MAHIR FX anywhere in the surrounding area.

After entering the building lobby, it was clearly evident that the building is actually a residential apartment building in nature, not the commercial office building labeled in public information. There is no corporate nameplate directory displayed publicly inside the building, and no directional information related to the forex broker MAHIR FX could be found at all.

When we attempted to go to the target floor, because the building is under closed apartment management, we could not take the elevator to reach the designated floor without prior appointment permission from a corresponding resident. Throughout the process, no office area of MAHIR FX was found, no obvious signage or security measures existed, and it was completely impossible to enter the interior. During the entire process, we could neither photograph the broker's front desk nor the front desk logo, and the site is also not a shared office type.

Because we were unable to enter the internal areas of the apartment, the so-called internal environment of MAHIR FX was completely invisible, and the overall site conditions are entirely inconsistent with its claimed commercial office positioning.

Therefore, after the on-site visit, it is confirmed that the broker MAHIR FX does not exist at the above publicly stated address.

Conclusion

The visiting personnel went to the UAE as planned to conduct an on-site visit to the forex broker MAHIR FX. At its publicly displayed business address, no relevant information such as the broker's company name was visible. The building corresponding to this address has been permanently closed and is actually an apartment building, indicating that the broker has no real business premises. Investors should make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not serve as the basis for final selection.