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 well-developed business environment, it has become one of the important forex trading centers in the Middle East. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team visited the UAE for a field visit.

Process

In this issue, the field survey team traveled to the UAE as planned to visit the forex broker Snap - Zed Futures. According to public information, its office address is 121 - 123, The Binary Tower, L16 Unit 1615, Al Abraj Street Business Bay, Dubai - UAE.

A professional and experienced site survey team, with a sense of mission to strictly screen for investors, carefully planned and traveled to the United Arab Emirates. They conducted an on-site verification of the broker Snap - Zed Futures, which claimed to be located at the aforementioned address.

The team successfully arrived at The Binary Tower, located in the heart of Dubai. This is the commercial core of Dubai, surrounded by skyscrapers, with bustling streets and a strong commercial atmosphere. The building is magnificent and exudes a super-luxurious style. However, no company logo or related information of Snap - Zed Futures was found outside the building.

The team entered the first-floor lobby of the building, explained their purpose to the security guard, and successfully obtained permission to enter.

After arriving at the target floor L16, the team found no clear signage of Snap - Zed Futures' office area. Upon reaching the corresponding room 1615, they discovered that another company was operating there. Since it was not the broker's office, the team could not enter, and was unable to take photos of the front desk or its logo. Moreover, the office was not a shared office.

Through the glass door, as no internal environment or information related to Snap - Zed Futures could be seen, the overall situation did not match its claimed location.

Therefore, after the site survey, it was confirmed that the broker Snap - Zed Futures does not exist at the above address.

Conclusion

The on-site inspection team went to the UAE as planned to conduct an on-site visit of forex dealer Snap - Zed Futures. At its publicly displayed business address, they could not see the company name or other information of the dealer, indicating that the dealer does not have a real business place. Investors should make their choice after comprehensive consideration.

Disclaimer

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