Purpose

The UAE foreign exchange market is a regional core offshore forex trading market that has gradually developed over the past two decades. Leveraging Dubai's advantageous position as the Middle East's financial hub, it has brought together a large number of licensed and emerging forex service providers, covering cross-border trading demand across the entire Middle East and North Africa region. In order to help investors or practitioners gain a more comprehensive understanding of the actual operating conditions of forex dealers in this region, the on-site inspection team visited Dubai, UAE, for a field survey.

Process

The field survey team for this issue traveled to the UAE as planned to conduct an on-site visit to forex broker Moneyplant. According to publicly available information, its office address is Office-103, The Business Center, Al Hamriya Street-Dubai-UAE. The professional and experienced field survey team, acting on a mission to strictly safeguard investors, traveled to Dubai, UAE, according to thorough planning. Based on the above information, they conducted an on-site visit to broker Moneyplant. During this visit, it was discovered that the publicly provided address information was incomplete. Within the Al Hamriya Street area, no corresponding building named The Business Center could be located. Throughout the entire process, no building matching the broker's address was found, making it completely impossible to confirm the company's specific location.

Since the target building could not be located throughout, we were unable to obtain panoramic images of the building at any point, and had no opportunity to enter the lobby of any relevant company. There were no signs or LOGO information marked with Moneyplant either inside or outside the building, and there was no company nameplate for the corresponding broker inside the building.

Because even the location of the target building could not be confirmed, it was completely impossible to reach the specific floor where Office 103, as indicated in the address, is located, let alone any possibility of entering the company. We could not photograph the reception desk or its LOGO, and there was no shared office scene either. Throughout the entire process, we were restricted from entering any related areas to view the internal environment.

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

Conclusion

The on-site inspection team traveled to the UAE as planned to visit forex broker Moneyplant on site. At its publicly displayed business address, no relevant information such as the broker's company name was found, indicating that the broker does not have a real and verifiable business location. Investors should make their decision after comprehensive consideration.

Disclaimer

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