Purpose

The UAE foreign exchange market is a core offshore forex market in the Middle East that has developed over the past two decades. Leveraging Dubai's advantageous position as an international financial hub, it has brought together a large number of global and regional forex dealers, making it an important hub connecting forex business across Europe, Asia, and Africa. To help investors and practitioners gain a more comprehensive understanding of forex dealers in the region, the site inspection team conducted an on-the-ground visit to the UAE.

Process

This time, the on-site inspection team went to the UAE as planned to visit the forex broker Markets Act. According to public information, its office address is the onyx - tower 2, office 1109 szr, the greens, dubai, uae.

A professional and experienced on-site inspection team, driven by the mission of strictly safeguarding investors, traveled to the United Arab Emirates according to a well-planned schedule to conduct an on-site verification of the broker Markets Act claimed to be located at the onyx - tower 2, office 1109 szr, the greens, dubai, uae.

The inspectors successfully arrived at the onyx - tower 2 building. Located in Dubai's central business district, it is a well-known luxury office building with a strong commercial atmosphere. There were no exclusive park signage for the broker in the street environment, and no company signs or related information for Markets Act were found on the exterior of the building.

The inspectors entered the first-floor lobby of the building, stated their purpose to the security guard, and after routine information registration, were granted access and successfully entered the corporate lobby. A complete floor directory was available on the 1st floor. According to the directory, Office 1109 was marked as a shared office. Throughout the visit, no company directory information for Markets Act was found, and the broker's logo was displayed neither inside nor outside the building.

Due to floor access restrictions, the inspectors were unable to reach the target 11th floor, nor could they confirm the broker's specific office location. They were unable to enter the broker's office area at all, could not photograph the reception desk, and could not see the reception area logo. Office 1109 at this address is a shared office.

Since the on-site surveyors could not enter the internal space, they were unable to observe the broker's internal office environment, and the relevant areas are not open to the public either, making it completely impossible to match the broker's claimed independent business positioning.
Therefore, after on-site verification, it is confirmed that broker Markets Act does not exist at the above address.

Conclusion

The on-site inspectors visited the forex broker Markets Act in the UAE as planned. At its publicly displayed business address, they could not see the company name or other information of the broker, indicating that the broker does not have a genuine independent business premise, and its disclosed address is merely a shared office location. Investors should make their decisions after comprehensive consideration.

Disclaimer

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