Purpose

The UAE foreign exchange market is an emerging forex market that has developed rapidly in recent years. With the diversified development of the UAE economy and its important financial position in the Middle East, forex trading occupies an important position in local financial activities. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the field inspection team conducted an on-site visit to the UAE.

Process

This time, the verification team went to the UAE as planned to physically visit the forex broker TradeFxP. According to public information, its office address is #908, 9th Floor, Fifty One Tower, Business Bay, Marasi Drive, Dubai United Arab Emirates.

A professional and experienced site inspection team, with a sense of mission to strictly check for investors, followed a meticulous plan and went to the United Arab Emirates. They conducted an on-site verification of the broker TradeFxP, which claims to be located at #908, 9th Floor, Fifty One Tower, Business Bay, Marasi Drive, Dubai, United Arab Emirates.

The site inspectors arrived smoothly at Fifty One Tower. The building is located in a bustling area of downtown Dubai, a luxury office building with a thriving surrounding environment and a strong commercial atmosphere. However, no company logo or related information of TradeFxP was found outside the building.

The site inspectors entered the ground floor of the building, stated their purpose to the security guard, and after a brief communication, obtained entry permission.

After arriving at the target floor, the 9th floor, the site inspectors found that there was no obvious signage for TradeFxP's office area. Upon reaching the corresponding office 908, they found another company operating there. Since it was not TradeFxP's company office, the site inspectors could not enter the interior, nor could they take photos of the front desk and its logo, and the office was not a shared office.

Through the glass door, it was also impossible to observe the internal environment of TradeFxP's company. The overall situation did not match its claimed location.

Therefore, after the site inspection, it was confirmed that the broker TradeFxP does not exist at the above address.

Conclusion

The field investigation team visited the forex dealer TradeFxP in the UAE as planned, at its publicly displayed business address they could not see the dealer's company name or other information, indicating that the dealer does not have a real business premises. Investors should make their decision after comprehensive consideration.

Disclaimer

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