Purpose

The UAE forex market is a regional core forex trading market that has developed over the past two decades. Relying on Dubai's advantageous location as an international financial hub, it has gathered a large number of forex brokers and financial services institutions from around the world, and is one of the markets with the highest forex trading activity and the most convenient cross-border capital flows in the Middle East. In order to help investors or practitioners gain a more comprehensive understanding of forex dealers in the region, the field inspection team traveled to the UAE for an on-site visit.

Process

In this issue, the field verification team went to the UAE as planned to conduct an on-site visit to forex broker FOREXer. According to publicly available information, its office address is 1st floor, DIBC, Hor Al Anz East, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly check for investors, went to the UAE according to a well-planned schedule. Based on the above information, they conducted an on-site visit to the trader FOREXer.

During this visit to the Hor Al Anz East area in Dubai to verify the address, it was first found that the publicly provided address information was incomplete, unable to locate the corresponding clear office point, and throughout the process, no corresponding company indication related to FOREXer could be found.

After arriving at the approximate area marked by the address, there was no complete commercial park sign with the corresponding marked name around the area, nor a clear corresponding office building panorama matching the description. The surrounding environment was mixed, and there was no commercial building information matching the trader's publicized address. Outside the area, no company sign or corresponding information related to FOREXer was found throughout.

When trying to find the entrance of the DIBC-related building corresponding to the mark, it was impossible to enter the company lobby of the corresponding building, there was no opportunity to complete registration and communication with security or staff, and throughout the process, no permission to enter the building interior was obtained.

Since it was impossible to enter the building interior, naturally it was also impossible to reach the specific floor of the marked 1st floor. It was completely impossible to confirm whether the office location claimed by the trader actually existed. Throughout the process, no office area of FOREXer was found. There were no obvious signs or security measures, and it was completely impossible to enter the trader's internal space. Neither could the front desk and the front desk LOGO be photographed, nor did it belong to the category of shared offices.

Throughout the process, there was no channel to observe the company's internal environment, unable to confirm its internal decoration style, employee activities, and other related situations, completely unable to match the trader's externally claimed business positioning.

Therefore, after the on-site inspection, it is confirmed that the trader FOREXer does not exist at the above publicized address.

Conclusion

As planned, field inspectors went to the United Arab Emirates to conduct an on-site visit of forex broker FOREXer. At the business address publicly displayed by the broker, they could not see the broker's company name or other information, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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