Purpose

The UAE forex market is a core forex trading market in the Middle East that has gradually developed over the past two decades. Leveraging Dubai's locational advantages as an international financial hub, it has gathered a large number of forex brokers from around the world and serves as an important hub connecting forex circulation across Europe, Asia, and Africa. In order to help investors gain a more comprehensive understanding of the actual office conditions of forex brokers in the region, an on-site visit team went to Dubai, UAE, to conduct on-site verification.

Process

In this issue, the field inspection team went to Dubai, UAE as planned to conduct an on-site visit to forex broker TORROSO. According to public information, its office address is Mazaya Business Avenue BB1, Jumeirah Lake Towers, Dubai, UAE.

Professional and experienced on-site inspectors, with a sense of mission to strictly safeguard investors, and in accordance with careful planning, traveled to Dubai, UAE. They conducted an on-site verification of the broker TORROSO, which claims to be located at Mazaya Business Avenue BB1.

The on-site inspectors successfully arrived at the Mazaya Business Avenue BB1 building. The location is in the core area of Dubai's business district and is a local luxury office building. The surrounding commercial atmosphere is strong, with many businesspeople coming and going. Outside the building, no company signage or related information bearing the words TORROSO was found.

The on-site inspectors entered the ground-floor lobby of the building, explained their purpose to the staff, and after a brief communication and registration, successfully obtained entry permission.

The on-site inspectors tried to go to the corresponding floor indicated by the public address. In the process, they checked all company directory boards in the building and found no company directory information marked with TORROSO, nor did they see the company's LOGO anywhere outside or inside the building. They were never able to confirm the specific floor location corresponding to the company, let alone find the office area of TORROSO. Throughout the entire process, no obvious signage of the company was found, and there were no security measures. Because the corresponding office location could not be found at all, they could not enter the interior, nor could they photograph the front desk or the LOGO at the front desk. This location is not a shared office.

Because the actual office area of TORROSO could not be located throughout the process, the on-site inspection team consulted the building's front desk staff. The staff said they had never heard of any information about this company, and the company's internal environment could not be observed at all, which is completely inconsistent with the office location previously claimed by the broker.

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

Conclusion

The field inspection team went to Dubai, UAE as planned to conduct an on-site visit to forex broker TORROSO, but at its publicly displayed business address, no information such as the broker's company name could be seen, indicating that the broker does not have a real business premises. Investors are advised to make a choice after comprehensive consideration.

Disclaimer

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