Purpose

The UAE forex market is a regional core forex trading market that has gradually developed over the past two decades. Leveraging Dubai's locational advantage as a financial hub in the Middle East, it has brought together a large number of licensed and diverse forex brokers. The market is highly open and has strong cross-border trading activity, serving as an important forex trading hub radiating across the entire Middle East and North Africa region. To help investors and practitioners gain a more comprehensive understanding of the actual office conditions of forex brokers in the region, the on-site inspection team traveled to the UAE to conduct field visits.

Process

In this episode, the on-site inspection team went to the UAE as planned to visit forex broker QYU in person. According to public information, its office address is Barsha Heights, 1108 Al Shafar tower 1, Dubai UAE.

The professional and experienced on-site inspection team, with a sense of mission to act as a strict gatekeeper for investors, traveled to the UAE according to a meticulous plan to conduct an on-site verification of the broker QYU, which claims to be located at Barsha Heights, 1108 Al Shafar tower 1, Dubai UAE.

The team smoothly arrived at the Al Shafar tower 1 building. Located on a bustling street in Dubai's business district, it is a luxury office building with a strong commercial atmosphere around it. This on-site inspection also fully photographed and documented the panoramic view of the building.

Throughout the exterior of the building, no signs or promotional information related to the broker QYU were found.

After entering the first-floor lobby, they stated their purpose to the security guards and staff. After normal information registration and communication, they successfully obtained permission to enter the lobby. The lobby has a complete floor company directory. They checked all the tenant names listed on the directory one by one and found no relevant signs for QYU. Whether inside or outside the building, no LOGO of this broker appeared.

After attempting to go to the target floor, they found that the corresponding office area belonged to a completely different company. Throughout the process, no office area signs for QYU were seen. Since this office area is the private premises of another company, they could not go further inside, and throughout the process there was no way to photograph the front desk of QYU or the LOGO at the front desk. This site is not a shared office either.

Due to access restrictions on the office premises, they could not enter the office area to inspect the environment, and confirmed that this space does not belong to the broker QYU at all.

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

Conclusion

The on-site inspection team traveled to the UAE as planned to conduct an in-person visit to forex broker QYU. However, at its publicly displayed business address, the broker's company name and other identifying information were not found, indicating that the broker does not have a real business premises. Investors are advised to consider all factors before making a decision.

Disclaimer

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