Purpose

The UAE foreign exchange market is a regional core forex trading market that has developed gradually over the past two decades. Leveraging Dubai's advantageous position as the financial hub of the Middle East, it brings together a large number of global and regional forex brokers, with high cross-border trading activity, serving investors across the Middle East and North Africa. In order to help investors or practitioners gain a more comprehensive understanding of the actual office conditions of forex dealers in the region, the on-site survey team went to the UAE to conduct a field visit.

Process

In this issue, the field verification team went to the UAE as planned to conduct an on-site visit to forex broker ABZ Capital. According to public information, its office address is King Al Yousuf, The Grand Souq, Dubai UAE.

The professional and experienced inspection team, with a sense of mission to strictly safeguard investors, followed meticulous planning and went to the United Arab Emirates. It conducted an on-site verification of the broker ABZ Capital claiming to be located at the address King Al Yousuf, The Grand Souq, Dubai UAE.

After arriving at the area following navigation guidance, the inspection team first checked the buildings along the entire King Al Yousuf road and around The Grand Souq one by one. This area is a traditional old souq district in Dubai, surrounded mostly by retail shops, traditional market stalls, and low-rise commercial and residential buildings, with a commercial atmosphere leaning toward offline physical retail. Throughout the process, no corresponding building marked in the address was found; there was no commercial office building matching the address description, and no information bearing the ABZ Capital identity was found anywhere around the district.

As the office building corresponding to the target address could never be located, the inspection team was unable to enter the lobby of any corresponding building, nor could it find any security or staff member to communicate with for registration. It had no possibility at all of entering the relevant buildings to carry out further verification.

Because even the physical building corresponding to the target address does not exist, the inspection team could not reach the so-called target floor at all, let alone find any office area belonging to ABZ Capital. Throughout the process, there were no obvious signs or security measures, and there was completely no possibility of entering the interior. During the entire visit, no scene where the front desk or the front desk LOGO could be photographed was found, and there was no shared-office-type business in the area corresponding to the address.

Since even the target building could not be found, the inspection team had no opportunity to observe the so-called company's internal environment, let alone confirm whether its office environment matched its claimed positioning.

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

Conclusion

The on-site inspectors went to the UAE as planned to visit forex broker ABZ Capital in person. At the business address publicly displayed by the broker, they did not see any relevant information such as the company name, and no corresponding building was found in the area. Therefore, the company's location could not be confirmed, indicating that the broker does not have a real business premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

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