Purpose

The UAE forex market is an emerging international offshore forex trading market that has developed over the past two decades. Leveraging Dubai's locational advantages as an international financial hub, it has attracted a large number of licensed forex brokers from around the world. Its regulatory system is relatively well-developed, making it a core hub for forex trading business in the Middle East. To help investors gain a more comprehensive understanding of the actual operations of forex brokers in the region, we traveled to Dubai, UAE, for an on-site visit.

Process

This visit, as planned, proceeded to the UAE for an on-site visit to forex broker OTC GLOBAL HOLDINGS, and according to publicly available information, its office address is A trading division of OTC Europe DMCC Almas Tower, Office 40, E&F JLT, Dubai United Arab Emirates.

A professional and experienced field inspection team, with a sense of mission to strictly safeguard investors, went to Dubai, UAE according to a well-planned itinerary. They conducted an on-site verification of the broker OTC GLOBAL HOLDINGS, which claims to be located at the above address.

The inspection personnel successfully arrived at Almas Tower, which is located in the JLT area, a core business cluster in Dubai. The surrounding area is a mature high-end commercial district with a very strong commercial atmosphere.

No signage or public information related to OTC GLOBAL HOLDINGS was found outside the building; only the building's own name sign, Almas Tower, was visible.

The inspection personnel entered the first-floor lobby of the building and stated their purpose to the security guard. After a brief communication and registration, they were granted access to the lobby area.

Because the building's security is extremely strict, there was no complete floor directory of companies on the first floor, and no public information about the office floor corresponding to OTC GLOBAL HOLDINGS could be found. At the same time, because there was no appointment made in advance, they could not obtain permission to go upstairs, could not reach the specific floor indicated to confirm the corresponding location, and much less could they access the broker's office area. No obvious signage of the company was found throughout the process, there was no situation involving a shared office, and it was completely impossible to photograph the company's reception desk or the LOGO at the reception desk.

The inspection personnel could not enter the upper-floor areas of the building, and had no way to observe the company's internal environment. They were restricted to the lobby area throughout, and could not verify whether the company had set up an office location here.

Therefore, after the inspection, it was confirmed that the broker OTC GLOBAL HOLDINGS is not located at the above publicly listed address.

Conclusion

Visiting personnel went to the United Arab Emirates as planned to conduct an on-site visit to the forex broker OTC GLOBAL HOLDINGS; at its publicly displayed business address, they were unable to see information such as the broker's company name, indicating that the broker does not have a real business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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