Purpose

The UAE foreign exchange market is an emerging international financial forex market that has developed over the past two decades. Leveraging Dubai's locational advantage as the Middle East's financial hub, it brings together a large number of global and regional forex dealers. With a high degree of market openness and strong cross-border trading activity, it is one of the core nodes connecting the forex trading networks of Europe, Asia, and Africa. To help investors or practitioners gain a more comprehensive understanding of the actual operating conditions of forex dealers in the region, the survey team went to the UAE to conduct on-site visits.

Process

This time, the survey team went to the UAE as planned to visit forex broker FX LIVE CAPITAL in person. According to public information, its office address is Damac Business Tower, 2206, Business bay, Dubai. UAE.

A professional and experienced site inspection team, with a sense of mission to strictly screen on behalf of investors, traveled to Dubai, UAE, according to a carefully planned schedule, to conduct an on-site verification of the trader FX LIVE CAPITAL claimed to be located at Damac Business Tower, 2206, Business bay, Dubai. UAE.

We arrived smoothly at the Damac Business Tower, which is located in the core Business Bay area of Dubai. It is an ultra-luxury office building in the center of Dubai, surrounded by clusters of high-end business buildings, with a very strong commercial atmosphere.

No company signage or information related to FX LIVE CAPITAL was found on the exterior of the building. During this site inspection, the full view of the building was photographed and on-site evidence was retained.

After entering the lobby on the first floor of the building and explaining the purpose of our visit to the on-site staff, we successfully obtained permission to enter the building through the standard visitor registration process. However, there was no complete building directory on the first floor of the office building, so the relevant listing information for FX LIVE CAPITAL could not be directly found in the public display area of the lobby. No LOGO of the company appeared inside or outside the building.

While attempting to reach the target floor, the 22nd floor, we inquired with the building staff for verification. The corresponding office 2206 does not belong to FX LIVE CAPITAL. The building staff interviewed all said they did not know any information about this company. Eventually, we were unable to reach the target location to complete the verification. Throughout the process, no obvious signage or security measures for the office area of FX LIVE CAPITAL were found, nor was there any shared office arrangement. We could not photograph the front desk or the front desk LOGO, and had no permission to enter the company's interior at all.

Since we could not enter the corresponding office area and could not observe the company's internal environment, this office setting is completely inconsistent with the trader's claim of establishing a business outlet here.

Therefore, after the site inspection, it was confirmed that the trader FX LIVE CAPITAL does not exist at the above publicly marked address.

Conclusion

The on-site inspectors traveled to the UAE as planned to conduct a field visit to the forex dealer FX LIVE CAPITAL. At its publicly displayed business address, they could not find the dealer's company name or other information, indicating that the dealer does not have a genuine business premises. Investors should make their decision after comprehensive consideration.

Disclaimer

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