Purpose

The UAE forex market is a regional core forex trading market that has gradually developed over the past two decades. Leveraging Dubai's locational advantage as an international financial hub, it has gathered a large number of precious metals and forex trading institutions from around the world, and is a core distribution hub for forex and precious metals trading in the Middle East and North Africa. To help investors gain a more comprehensive understanding of the actual operations of forex brokers in the region, the field inspection team traveled to Dubai, UAE, for an on-site visit.

Process

In this issue, the field inspection team went to the United Arab Emirates as planned to conduct an on-site visit to forex broker LBMA. According to public information, its office address is 39E, Almas Tower, JLT, P.O. Box – 111936 Dubai, UAE.

A professional and experienced site visit team, with a sense of mission to strictly safeguard investors' interests, traveled to Dubai, UAE according to a meticulous plan. They conducted an on-site verification of the broker LBMA, which claims to be located at 39E, Almas Tower, JLT, P.O. Box – 111936 Dubai, UAE.

The site visit personnel successfully arrived at Almas Tower, which is located in Dubai's core JLT business cluster area, surrounded by contiguous high-end commercial office buildings, with a clean environment and a very strong business atmosphere.

Outside the building, no company signage or related information associated with LBMA was found, and the team fully photographed and recorded the panoramic appearance of the building.

The site visit personnel entered the first-floor lobby of the building and stated their purpose to the security guard or staff. After brief communication and registration, they successfully obtained permission to enter the lobby. After a careful search in the lobby, it was found that the first floor did not have a complete floor company directory board, nor was any publicly displayed information marked with LBMA found. Neither inside nor outside the building did the broker's LOGO signage appear.

Because the office building has extremely strict security, and no advance appointment had been made with the broker before this trip, it was impossible to obtain permission to go up to the corresponding floor. Therefore, they could not reach the specific floor where the marked 39E is located to confirm the position, nor could they enter the broker's office area at all. There was no shared office situation, and they could not photograph the reception desk or the LOGO at the reception desk.

Because they could not enter the building and go up to the corresponding floor, let alone access the so-called internal company area, they were completely unable to observe the company's internal office environment, and could not confirm whether it matched the business positioning it publicly claimed.

Therefore, after the site visit, it was confirmed that the broker LBMA does not exist at the above publicly marked address.

Conclusion

Field inspection personnel went to the UAE as planned to conduct an on-site visit to forex broker LBMA. At the business address publicly displayed by the broker, they could not see the broker's company name or other information, indicating that the broker does not have a genuine business premises. Investors are advised to make a choice after comprehensive consideration.

Disclaimer

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