Purpose

The UAE foreign exchange market is an emerging international forex market that has developed over the past two decades. Leveraging the policy dividends of the Dubai International Financial Centre, it has attracted a large number of licensed financial trading institutions from around the world, making it a highly influential forex trading hub in the Middle East and North Africa region. To help investors gain a more comprehensive understanding of the actual operations of licensed forex dealers in the region, we traveled to the UAE for an on-site visit.

Process

This visit went to the UAE as planned to conduct an on-site visit to forex broker HYCM DIFC, and according to public information, its office address is 9th Floor, Liberty House, Dubai International Financial Center, Dubai, United Arab Emirates.

A professional and experienced visiting team, driven by a sense of mission to strictly safeguard investors, traveled to the United Arab Emirates according to a well-planned itinerary. They conducted an on-site inspection of broker HYCM DIFC, which claims to be located at 9th Floor, Liberty House, Dubai International Financial Center, Dubai, United Arab Emirates.

The visiting team arrived smoothly at the Liberty House building. The site is located within an ultra-luxury office building cluster in downtown Dubai, surrounded by high-end commercial facilities and a vibrant business atmosphere. No signage related to HYCM DIFC was found outside the building; only a complete panoramic view of the building's exterior was captured.

The visiting team entered the first-floor lobby of the building and stated their purpose to the security personnel on site. After registering their information and initial communication, they successfully obtained permission to enter the lobby area.

The visiting personnel carefully checked the lobby area and found that the office building did not have a complete tenant directory board. No signage for HYCM DIFC appeared either inside or outside the building.

Because security management was very strict and the visiting team had not made an appointment in advance, they were unable to obtain access to the corresponding floor, could not reach the target location on the 9th floor for further confirmation, and had no way to photograph the company's front desk and front desk logo throughout the process. The office space also does not fall under the shared office category.

Restricted by strict security controls, the visiting personnel could not enter the target office area of the building, could not see the company's internal office environment at all, and were unable to verify the broker's actual operating status.

Therefore, after the site inspection, it was confirmed that broker HYCM DIFC does not exist within the verifiable scope of the publicly disclosed address above.

Conclusion

The visiting team went to the UAE as planned to conduct an on-site visit to the forex dealer HYCM DIFC. At its publicly displayed business address, the company name and related information of the dealer could not be seen, indicating that the dealer does not have a verifiable real business location. Investors are advised to make their choices after comprehensively considering multiple sources of information.

Disclaimer

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