Purpose

The UAE foreign exchange market is a regional core forex trading market developed over the past two decades. Leveraging Dubai's position as the Middle East's financial hub, it has attracted a large number of forex brokers from around the world. With a high degree of market openness and strong cross-border trading activity, it serves as an important forex trading hub radiating to West Asia and North Africa. To help investors and practitioners gain a more comprehensive understanding of the forex brokers in this region, the on-site inspection team traveled to the UAE for field visits.

Process

This on-site inspection team traveled to the United Arab Emirates as planned to visit forex broker Ace. According to public information, its office address is 269 DMCC Business Centre Level No 1 Jewellery & Gemplex 3 Dubai, United Arab Emirates.

A professional and experienced on-site survey team, driven by a sense of mission to strictly protect investors, traveled to the UAE according to a carefully planned schedule to conduct an on-site verification of the broker Ace purportedly located at the above address.

After successfully arriving at the industrial park where the target is located, the site is inside a very large park on a less bustling street at the edge of Dubai's business district, containing many buildings. There were no signs related to the broker in the surrounding street environment. The overall area is an industrial cluster park without dense street-facing commercial facilities.

No company signage or promotional information related to the broker Ace was found outside the building. The team captured a complete panoramic view of the building and also photographed the building's corresponding full directory board, on which the name of Ace did not appear.

The team entered the building lobby and stated their purpose to the security guard. After registering their information and communicating, they successfully obtained permission to enter the lobby.

When the team proposed to go to the office area on the 1st floor of the target floor to verify Ace, because no appointment had been made in advance, the security guard explicitly prohibited the team from going upstairs, making it completely impossible to reach the specific floor to confirm the so-called specific office location, let alone get in touch with the target company's office area. Throughout the process, no office area bearing any Ace signage was found, and it was impossible to photograph the front desk or the front desk logo. The address also does not belong to the shared office type.

Since they were unable to go upstairs, the team had no way to observe the broker's internal environment through any glass doors or the front desk area, and had no opportunity to enter the office to inspect the working environment, making it impossible to confirm whether it matches its publicly claimed business positioning.
Therefore, after on-site verification, it is confirmed that the broker Ace does not exist at the publicly marked address mentioned above.

Conclusion

The field inspectors proceeded to the UAE as planned to visit the forex broker Ace on site. At its publicly displayed business address, they could not see the broker's company name or any related information, indicating that the broker does not have a real business location. Investors should consider all factors comprehensively before making a decision.

Disclaimer

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