Purpose

The UAE forex market is an emerging regional forex market that has developed over the past two decades. Leveraging Dubai's geographical advantage as a Middle East financial hub, it has attracted a large number of forex brokers serving the Gulf region and reaching across Europe, Asia, and Africa, with high market openness and strong cross-border trading activity. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the field inspection team traveled to the UAE for on-site visits.

Process

In this issue, the on-site inspection team went to the UAE as planned to conduct an on-site visit to forex broker W2forex. According to publicly available information, its office address is Office 42, 9th Floor, Concord Tower, 189 King Salman Bin Abdulaziz Al Saud Str, Al Sufouh 2, Dubai – UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors, traveled to the UAE according to a well-planned schedule. They conducted an on-site verification of the broker W2forex claiming to be located at Office 42, 9th Floor, Concord Tower, 189 King Salman Bin Abdulaziz Al Saud Str, Al Sufouh 2, Dubai – UAE.

The on-site inspectors successfully arrived at the target building. The location is next to a super-luxury office building in Dubai's commercial district, adjacent to a tram station, with very convenient surrounding transportation and a strong commercial atmosphere.

No relevant signage or information about W2forex was found on the exterior of the building.

The on-site inspectors entered the building lobby and stated their purpose to the security guard or staff. After communication and registration, they were granted access to the lobby area.

There was no complete floor directory of companies in the lobby, and it was impossible to find information about the company occupying Room 42 on the 9th floor,

Building security was strict. Because no advance appointment had been made, they could not obtain permission to go upstairs, could not go to the target 9th floor to confirm the specific location, and naturally could not enter the company's premises. Throughout the process, there was no opportunity to photograph the reception desk or its LOGO, and the premises did not belong to a shared office.

Since they could not obtain permission to go upstairs, there was no way to observe the company's internal environment, nor to confirm its office scale and operating status.

Therefore, after the on-site inspection, it was confirmed that the broker W2forex does not exist at the above address.

Conclusion

As planned, field inspection personnel went to the UAE to conduct an on-site visit to forex broker W2forex. At its publicly disclosed business address, they were unable to see the broker's company name or other information, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be taken as the basis for final selection.