Purpose

The United Arab Emirates foreign exchange market is a newly emerging forex market in recent years, leveraging its advantageous geographical location, open financial policies, and developed economic system to become an important foreign exchange trading center in the Middle East. To help investors or practitioners better understand the forex brokers in this region, the site inspection team visited the UAE for an on-site investigation.

Process

In this issue, the field inspection team visited the forex broker Walfiner in the UAE as planned. According to public information, its office address is Level 03, Boulevard Plaza Tower One Sheikh Mohammed Bin Rashid Boulevard, Downtown Dubai, UAE.

A professional and experienced site visit team, with a sense of mission to strictly vet for investors, went to the UAE following a thorough plan. They conducted an on-site verification of the broker Walfiner, which claims to be located at Level 03, Boulevard Plaza Tower One, Sheikh Mohammed Bin Rashid Boulevard, Downtown Dubai, UAE.

The site visit team arrived smoothly at Boulevard Plaza Tower One, which is located at a landmark position in downtown Dubai, next to the Burj Khalifa and Dubai Center, and also connected to the metro station. The surrounding environment is bustling with a strong commercial atmosphere.

The building's interior is very luxurious. The site visit team photographed the building directory, but the directory did not contain any information about Walfiner.

The site visit team entered the building lobby, stated their purpose to the security guard, and obtained permission to enter.

After arriving at the target floor, Level 03, the site visit team found that the area was similar to a co-working space, with no obvious signage or security measures for Walfiner. Since no company signage was found, the team could not confirm the exact location, nor could they enter the interior, and could not take photos of the front desk or its logo.

Through the public area, the site visit team could not observe the company's internal environment, and overall could not determine whether it matches its claimed positioning.

Therefore, after the site visit, it was confirmed that the broker Walfiner does not exist at the above address.

Conclusion

The survey personnel went to the UAE as planned to visit the forex broker Walfiner in person. At its publicly displayed business address, they could not see the company name or other information of the broker, indicating that the broker does not have a real business premises. Investors should make a choice after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and do not constitute a basis for final selection.