Purpose

The UAE forex market is an emerging regional forex trading market that has gradually developed over the past two decades. Leveraging Dubai's locational advantage as a Middle Eastern financial hub, it has gathered a large number of forex brokers serving clients in the Middle East and North Africa, with high market activity and broad reach. In order to help investors gain a more comprehensive understanding of the actual operations of forex brokers in the region, an on-site inspection team traveled to Dubai, UAE, to carry out on-site verification work.

Process

In this issue, the visiting team went to Dubai, United Arab Emirates as planned to conduct an on-site visit to forex broker SENEKPITAL. According to public information, its office address is Business village tower B of 213, Dubai, EAU.

A professional and experienced visit team, with a sense of mission to strictly safeguard investors, went to Dubai, UAE, according to a well-planned schedule. They conducted an on-site verification of the broker SENEKPITAL claiming to be located at this address.

The visitors successfully arrived at the target building. The location is in the city center of the old town of Dubai, and it is a relatively luxurious office building, with complete surrounding commercial facilities and a strong commercial atmosphere.

No company signage or related promotional information bearing the name SENEKPITAL was found outside the building.

The visitors entered the ground floor lobby of the building and stated their purpose to the on-site staff. After basic communication and registration, they were granted access to the lobby area. A complete floor directory of companies is set up on the 1st floor of the building. After checking the list of tenants on the directory one by one, no company name information related to SENEKPITAL was found.

Because no prior appointment was made with the broker, the on-site staff did not allow the visitors to go upstairs, so they could not reach the specific floor corresponding to the marked address, and thus could not confirm whether SENEKPITAL has an office location on that floor. According to nearby merchants, the actual office area corresponding to this address is occupied by another company in a completely different industry. There is no obvious SENEKPITAL company signage or dedicated security measures, nor does it belong to the shared office category at all. There was no way to photograph the broker's reception desk or the reception desk logo.

The visitors could not access the company's internal area, were not granted permission to enter the office area throughout the entire process, and could not observe the so-called SENEKPITAL's internal environment, decoration style, or employee activities. This is completely inconsistent with the broker's publicly claimed Dubai office location positioning.

Therefore, after the field inspection, it is confirmed that the broker SENEKPITAL does not exist at the above publicly marked address.

Conclusion

The visiting personnel went to Dubai, United Arab Emirates, as planned to conduct an on-site visit to forex broker SENEKPITAL, but at its publicly displayed business address, they were unable to see the broker's company name or other information, indicating that the broker does not have a real business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not constitute the final basis for selection.