Purpose

The UAE foreign exchange market is an emerging regional international forex trading market developed over the past two decades. Leveraging Dubai's locational advantage as the Middle East's financial hub, it has attracted a large number of forex brokers from around the world, with high trading activity and coverage extending across the entire Middle East and North Africa. To help investors or practitioners gain a more comprehensive understanding of forex dealers in the region, the on-site inspection team traveled to the UAE for field visits.

Process

This issue's on-site survey team traveled to the UAE as planned to visit forex broker KAIFIN in person, and according to public information, its office address is RANI INTERNATIONAL DEVELOPMENT 2301, 346-Business Bay PO Box: 20589, Dubai, UAE.

A professional and experienced on-site inspection team, driven by the mission to strictly safeguard investors' interests, traveled to the United Arab Emirates in accordance with a carefully planned schedule to conduct a field verification of the broker KAIFIN, which claims to be located at RANI INTERNATIONAL DEVELOPMENT 2301, 346-Business Bay PO Box: 20589, Dubai, UAE.

The team successfully arrived at the building displayed on Google Maps. The site is located in the Business Bay business district in the core of Dubai. In the surrounding environment, there was no corresponding company campus signage matching the description, nor clear matching street directional information. No company signs or promotional information related to KAIFIN were found on the exterior of the entire building.

The team entered the first-floor lobby of the building, indicated their purpose to the staff, and after a brief registration process, was granted access to the lobby. However, after checking the public directory areas floor by floor inside the building, no entries bearing the name KAIFIN were found. There were no signs of the company anywhere in the building; neither the exterior nor the interior displayed the logo of KAIFIN.

Since the building directory provided no floor guidance for the corresponding company, the team could not confirm the specific floor location of the target company, let alone reach the stated Room 2301 to verify the exact location. Throughout the process, no office area of KAIFIN was found, no obvious signage or security measures existed, and there was no way to enter the company's interior. The site verified in this inspection is not a shared office, making it completely impossible to photograph the company's front desk or its front desk logo.

The team attempted to ask the building staff about the company's tenancy information, and the response was that no registration record of KAIFIN was found. They were unable to enter the interior to view the office environment. The address information appears to be inaccurate, and the company's actual location could not be confirmed at all.

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

Conclusion

The field inspectors proceeded as planned to the UAE for an on-site visit to the forex dealer KAIFIN. At its publicly displayed business address, the company name and other information of the dealer could not be seen, indicating that the dealer does not have a real business office. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

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