Purpose

The UAE foreign exchange market is a regional core forex trading market developed over the past two decades. Leveraging Dubai's geographical advantage as the financial hub of the Middle East, it has brought together a large number of forex brokers from around the world, with a high degree of market openness and strong cross-border trading activity, making it an important node connecting forex business across Europe, Asia, and Africa. To help investors gain a more comprehensive understanding of the actual operating conditions of forex dealers in the region, we went to Dubai, UAE for an on-site visit.

Process

This visit was planned to go to the UAE to conduct an on-site visit of forex broker GrowFX Global. According to public information, its office address is Al Jawahra Building, Bank Street, Dubai.

A professional and experienced inspection team, driven by the mission of strictly vetting on behalf of investors, traveled to Dubai, UAE according to a meticulous plan, to conduct an on-site verification of the broker GrowFX Global claimed to be located in the Al Jawahra Building.

The inspection team arrived smoothly at the target building. Located in a bustling area of Dubai, this luxury office building has a strong commercial atmosphere, with dense pedestrian and business traffic on the streets, making it a core business hub in Dubai.

A thorough search around the exterior of the building found no signage or promotional information bearing the name GrowFX Global.

The inspection team successfully entered the first-floor lobby of the building, stated their purpose to the lobby staff, completed visitor registration, and obtained permission to access the lobby area.

Carefully checking the complete floor directory on the first-floor lobby and going line by line through the names of all tenant companies, they found no entry corresponding to GrowFX Global throughout the process, nor any office information indicating the broker. As a result, they could not locate the specific floor for the company and were unable to go to the target floor to confirm its exact location.

Since no directional information for the corresponding company could be found, the team was unable to access the company's office area, had no opportunity to photograph the front desk or its logo, and the address did not fall within the scope of a shared office.

Because no entrance to the corresponding company could be found, the team was unable to enter the broker's internal area at any point and could not observe the office environment inside the company.

Therefore, after the inspection, it was confirmed that the broker GrowFX Global does not exist at the publicly stated address above.

Conclusion

The visiting personnel went to the UAE as planned to conduct an on-site visit to the forex dealer GrowFX Global. At its publicly displayed business address, no relevant information such as the dealer's company name could be seen, indicating that the dealer does not have a real place of business. Investors should make their choice after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and shall not be used as a basis for final decision-making.