Purpose

The UAE forex market is an emerging regional forex trading market that has developed over the past two decades or so. Relying on the local relaxed financial regulatory policies and advantageous free trade location, it has gathered a large number of forex brokers from around the world. The qualifications of brokers in the region vary, and many investors are easily misled by false business address information. To help investors gain a more comprehensive understanding of the actual operations of forex brokers in the region, the on-site inspection team traveled to the UAE for a field visit.

Process

In this issue, the on-site inspection team went to the UAE as planned to conduct an on-site visit to the forex broker BeeMarkets. According to publicly available information, its office address is Office No. 101, Property of Sheikh Ahmed Bin Rashid Bin Saeed Al Maktoum, Deira, Hor Al Anz.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, traveled to the UAE according to a meticulous plan. It conducted an on-site verification of the broker BeeMarkets, which claims to be located at Office No. 101, Property of Sheikh Ahmed Bin Rashid Bin Saeed Al Maktoum, Deira, Hor Al Anz.

After arriving in the vicinity of the target area, the team tried to search for building information corresponding to the address through various map tools. No corresponding building was found on the maps, and it was completely impossible to locate the specific office building claimed by the broker. There were also no signs or clues pointing to the relevant property corresponding to the address, and throughout the process, the company's actual location could not be confirmed.

Because the specific building corresponding to the target address could never be located, the team could not find the corresponding building lobby entrance, and naturally could not enter the building lobby. They also had no opportunity to state their purpose to security guards or staff, and at no point obtained any permission to enter the relevant building.

Because even the target building could not be confirmed, the team was completely unable to reach the specific floor where the claimed Office No. 101 is located, let alone confirm the location of the so-called office area. Throughout the process, they did not see any office signage or security measures of BeeMarkets. There was neither a reception desk nor a reception desk logo that could be photographed, nor did it belong to the category of shared offices.

Because the corresponding office building could not be found at all, the team had no opportunity whatsoever to observe any internal environment of the company. There was no relevant internal scene to inspect, and it was completely impossible to verify whether its claimed operational positioning was true.

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

Conclusion

The field inspection team went to the UAE as planned to conduct an on-site visit to the forex broker BeeMarkets. At the business address it publicly displays, they could not see the broker's company name or any other relevant information, and could not even locate the physical building at the corresponding address, indicating that the broker has no real business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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