Purpose

The UAE foreign exchange market is an emerging international forex trading market developed over the past two decades. Leveraging Dubai's strategic location as the financial hub of the Middle East, it has brought together numerous licensed and compliant forex trading institutions, serving cross-border trading demand across the Middle East and North Africa. It is one of the fastest-growing regional forex markets globally in recent years. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team traveled to the UAE for a field visit.

Process

In this issue, the on-site inspection team traveled to the UAE as planned to conduct an on-site visit to forex broker xCube. According to public information, its office address is 8th floor, Convention Tower, DWTC, Dubai, United Arab Emirates.

Professional and experienced on-site inspection team, with the mission of strictly vetting on behalf of investors, traveled to the United Arab Emirates according to a well-planned schedule. They conducted an on-site verification of the broker xCube, which claims to be located at 8th floor, Convention Tower, DWTC, Dubai, United Arab Emirates.

The inspectors arrived smoothly at Convention Tower, located in the core business district of downtown Dubai, right next to the Dubai International Exhibition Centre. The surrounding area is very bustling, with a rich commercial atmosphere. From outside the building, a complete panoramic view of the tower could be captured. The building is an ultra-luxury office building in downtown Dubai, with a modern and grand exterior design, and is one of the iconic business buildings in the area.

No xCube signage was found on the exterior of the building; the corresponding company logo is placed inside the building.

The inspectors entered the first-floor lobby of the building and stated their purpose to the security guards or staff. After routine visitor registration and communication, they obtained permission to enter the lobby. A complete floor directory board is installed in the building lobby, on which the registration information of broker xCube can be clearly seen. The listed floor matches the 8th-floor address information publicly disclosed by the broker.

Due to the building's strict security management, without a prior appointment, we were unable to obtain permission to go up to the office floors. In the end, we could not reach the specific 8th-floor location to confirm its position, nor could we enter the company's interior. This site visit confirms the office premises. Not a shared office, nor is it possible to photograph the company's reception desk and the reception desk's logo.

As it was not possible to enter the internal area, there was no way to observe the company's office environment, decoration style, and employee activities, making it impossible to further determine whether the internal environment fully matches the positioning claimed by the broker.

Therefore, after the site survey, it was confirmed that the registration information of broker xCube genuinely exists at the aforementioned address.

Conclusion

The on-site inspection team went to the UAE as planned to visit forex broker xCube in person. On the building directory in the first-floor lobby of the building corresponding to its publicly displayed business address, the company name and other information of the broker could be seen, indicating that the broker has a genuine business location. Investors are advised to consider all factors before making a decision.

Disclaimer

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