Purpose

The UAE foreign exchange market is an emerging forex market that has developed in recent years. With its advantageous geographical location, open financial policies, and developed business environment, it has attracted the attention of numerous international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the onsite inspection team conducted a field visit to the UAE.

Process

This issue's survey team planned to visit forex broker HYCM in the UAE. According to public information, its office address is Tenancy 903, Level 9, Liberty House, DIFC, PO Box 506540, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly vet for investors, traveled to the United Arab Emirates following meticulous planning. They conducted an on-site verification of the broker HYCM, which claimed to be located at Tenancy 903, Level 9, Liberty House, DIFC, PO Box 506540, Dubai, UAE.

The on-site inspectors arrived smoothly at the target building, a luxury office building located in downtown Dubai, surrounded by a bustling environment and a strong commercial atmosphere. However, no company signage or related information was found on the exterior of the building.

The inspectors entered the building lobby, stated their purpose to the security guard, and after a simple registration, obtained permission to enter.

Upon reaching the target floor, the 9th floor, the inspectors found clear signage for HYCM's office area. Due to the lack of an appointment, the inspectors were unable to enter the interior. However, they were able to photograph the front desk and its LOGO, and the office was not a shared office.

Through the glass door, one could see a display board with the HYCM logo placed in the company's front desk area, and the overall environment matched its claimed positioning.

Therefore, after the on-site inspection, it was confirmed that the broker HYCM exists at the aforementioned address.

Conclusion

The inspection team went to the UAE as planned to visit forex broker HYCM on-site. At its publicly displayed business address, the company name and other information of the broker can be seen, indicating that the broker has a genuine business premises. Investors should make their decisions after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not serve as the basis for final selection.