Purpose

The UAE foreign exchange market is a regional core offshore foreign exchange market developed over the past two decades, leveraging Dubai's geographic advantage as a Middle East financial hub, bringing together a large number of forex brokers serving markets across Europe, Asia, and Africa, with broad market reach and high cross-border trading activity. To help investors or practitioners gain a more comprehensive understanding of the actual operating conditions of forex brokers in the region, the on-site inspection team went to the UAE for a field visit.

Process

The on-site inspection team traveled to the UAE as planned to conduct an on-site visit to forex broker Gusto Fortune. According to public information, its office address is Office No – 105, Mostafawi Business Centre, Mankhool, Dubai, U.A.E.

The professional and experienced on-site verification team, with a sense of mission to act as a strict gatekeeper for investors, traveled to the United Arab Emirates in accordance with meticulous planning. An on-site inspection was conducted on the broker Gusto Fortune, which claimed to be located at Office No – 105, Mostafawi Business Centre, Mankhool, Dubai, U.A.E.

The team arrived smoothly at the Mostafawi Business Centre building. The site is located beside a bustling street in Dubai, the office building is adjacent to a metro station, making transportation very convenient. The building exterior is not brand-new, and the surrounding area has complete commercial amenities and a strong business atmosphere.

A thorough search was conducted throughout the exterior of the building, and no company signage or related information bearing the name Gusto Fortune was found. Only the complete panoramic view of the building was photographed.

After entering the lobby on the first floor, the team stated their purpose to the security personnel and, after a simple information registration, successfully obtained permission to enter. Checking each of the company directory boards displayed in the lobby, they found no listing for Gusto Fortune at all. The occupant corresponding to Office 105 was another completely unrelated company. Throughout the process, no Gusto Fortune logo was seen in any area inside or outside the building.

Since the specific location of Gusto Fortune on the target floor could not be confirmed, and no corresponding information was found in the directory, the team had no opportunity to reach the designated Office 105 to confirm the location, let alone enter the company's interior. Nor did they manage to photograph the broker's front desk or its logo at any point. This site is not a shared office space either.

As the team could not enter the corresponding office area, it was impossible to observe the internal environment of Gusto Fortune's company throughout the process. All relevant areas were controlled and inaccessible, which is completely inconsistent with the office location previously claimed by the broker.

Therefore, after the on-site verification, it was confirmed that the broker Gusto Fortune does not exist at the above-mentioned publicly listed address.

Conclusion

The on-site inspectors went to the UAE as planned to conduct a field visit to the forex broker Gusto Fortune. At its publicly displayed business address, they could not see the broker's company name or other information. The actual occupant of the address was another company, indicating that the broker does not have a real business premises. Investors are advised to comprehensively verify information from multiple sources before making a decision.

Disclaimer

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