Purpose

The UAE forex market is a regional core forex trading market that has developed over the past two decades. Leveraging Dubai's geographical advantage as the Middle East financial hub, it has brought together a large number of forex brokers serving the Gulf region and North African markets. With a mature regulatory system and an open business environment, it occupies a very important position in the global offshore forex trading landscape. In order to help investors or practitioners gain a more comprehensive understanding of the actual operations of forex dealers in the region, the on-site inspection team went to Dubai, UAE for a field visit.

Process

This time the field inspection team went to the UAE as planned to conduct an on-site visit to forex broker Classic Markets. According to public information, its office address is 1502A, Musalla Towers, Khalid Bin Al Waleed Road, Dubai, UAE. A professional and experienced field inspection team, with a mission to strictly safeguard investors, went to Dubai, UAE, according to careful planning. Based on the above information, they conducted an on-site visit to broker Classic Markets.

The target area for this visit was the Musalla Towers building along Khalid Bin Al Waleed Road in Dubai, to conduct an on-site verification of the broker Classic Markets claiming to be located at this address.

After arriving at the target building without issue, we observed that it is located in the bustling core area of Dubai, a luxury commercial building in central Dubai, with complete surrounding commercial facilities, dense business traffic, and a strong overall commercial atmosphere.

We captured complete panoramic exterior shots of the building, and throughout the exterior of the building, we found no company signage or promotional information bearing Classic Markets.

After entering the first-floor lobby, we stated our purpose to the on-site staff, completed the visitor registration process, and successfully obtained permission to access the lobby public area. The lobby has a complete floor directory board. After carefully checking the list of all tenant companies on the directory board, we still did not find any relevant information corresponding to Classic Markets, nor was there any LOGO sign belonging to this broker inside the building.

Because we were unable to find the company information for Room 1502A on the directory board, and did not have an advance appointment with the broker, we ultimately could not reach the 15th-floor target floor to confirm the specific location, let alone enter the broker's internal office area. Throughout the process, we had no opportunity to photograph the broker's front desk or its front desk LOGO, and this address does not fall under the category of shared office space.

Because we were unable to enter the corresponding office area, we could not observe the internal environment of Classic Markets throughout the entire process, nor could we confirm its office decoration style or employee activity. This state is clearly inconsistent with the broker's previously publicly claimed legitimate business positioning.
Therefore, after on-site verification, it is confirmed that the broker Classic Markets does not exist at the publicly marked address mentioned above.

Conclusion

The on-site inspection team went to the United Arab Emirates as planned to visit forex broker Classic Markets in person. At its publicly displayed business address, no relevant information such as the company name was found, indicating that the broker does not have a real public business location. Investors are advised to verify based on comprehensive information from multiple sources before making prudent decisions.

Disclaimer

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