Purpose

The UAE foreign exchange market is a regional core forex trading market that has developed over the past two decades or so. Relying on Dubai's advantageous location as an international financial port, it brings together a large number of licensed and forex-related brokers from around the world, making it the core hub in the Middle East with the highest level of forex trading activity and the largest capital flow. In order to help investors or practitioners gain a more comprehensive understanding of the forex brokers in this region, the on-site inspection team went to the UAE for field visits.

Process

In this edition, the survey team went to the UAE as planned to conduct an on-site visit to the forex broker JRFX. According to public information, its office address is Unit No.164 DMCC Business Centre Level No.1 JEWELLERY & GEMPLEX 3 Dubai 115738.

A professional and experienced on-site inspection team, driven by the mission of strictly safeguarding investors, went to the United Arab Emirates according to a carefully devised plan to conduct an on-site verification of broker JRFX, which claims to be located at Unit No.164 DMCC Business Centre Level No.1 JEWELLERY & GEMPLEX 3 Dubai 115738.

We arrived successfully at the target building. The building is located in a business park on a less bustling street at the edge of Dubai's commercial district. The business park is very large and contains many buildings. We captured complete panoramic photos of the building, but found no company signage or promotional information related to JRFX on the exterior of the building.

After entering the building lobby, we stated our purpose to the security guard. Following communication and registration, we were granted access to the lobby area. However, we carefully checked all publicly displayed floor directory boards in the lobby and found no entry indicating the company name of JRFX. The building had no company directory information corresponding to this broker at all.

When we requested to go to the designated office location on the target Level 1 for verification, the security guard directly blocked our request to go upstairs because we had not made an appointment with the company in advance. We could not reach the specific target floor to confirm the corresponding location. Throughout the process, we saw no office area signage belonging to JRFX, nor any shared office arrangements. We were completely unable to enter the company's interior, and naturally had no way to photograph the front desk or the front desk LOGO.

Because we were unable to access the corresponding floor, we had no opportunity to observe the company's internal environment, nor could we confirm whether it conforms to its claimed business positioning.

Therefore, after the on-site inspection, it is confirmed that broker JRFX does not exist at the above address.

Conclusion

As planned, we visited the forex broker JRFX on site in the UAE. At its publicly displayed business address, we could not see the company name or other information of the broker, indicating that the broker does not have a real business location. Investors are advised to consider all factors before making a choice.

Disclaimer

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