Purpose

The UAE foreign exchange market is a core regional FX trading market in the Middle East that has developed gradually over the past two decades. Leveraging Dubai's strategic advantage as a global financial hub, it has attracted a large number of cross-border financial dealers, and the market is characterized by a high degree of openness and strong international attributes. To help investors and practitioners gain a more comprehensive understanding of the actual operating conditions of forex brokers in the region, the on-site inspection team visited the UAE for field research.

Process

This time, the survey team went to the UAE as planned to conduct an on-site visit to the forex broker Sinox FX. According to public information, its office address is Office No. 701, 7th Floor, Al Jawhara Building, Bank Street, Bur Dubai, U.A.E. The professional and experienced survey team, driven by a sense of mission to strictly safeguard investors, traveled to the UAE following a meticulous plan. They conducted an on-site verification of the broker Sinox FX, which claims to be located at Office No. 701, 7th Floor, Al Jawhara Building, Bank Street, Bur Dubai, U.A.E.

We successfully arrived at Al Jawhara Building. The site is located in the core bustling area of Dubai and is a well-known luxury office building locally, with a strong commercial atmosphere and various financial institutions and business service outlets along the street. The building's overall appearance is imposing and well-organized. During this on-site inspection, we also fully photographed and recorded the panoramic view of the building. Throughout the exterior of the building, we found no company signage or promotional information related to Sinox FX.

After entering the first-floor lobby of the building, we stated our purpose to the lobby staff and, after basic information registration and communication, successfully obtained permission to enter the lobby area.

We carefully examined the complete floor tenant directory board set up on the first-floor lobby. The board clearly indicated the names of all resident companies and their corresponding room numbers. After checking one by one from start to finish, we found no name entry related to Sinox FX at all, nor any indication that Room 701 belonged to this broker. Subsequently, we were not granted access to the target floor on the 7th floor and could not reach the specific floor to confirm the corresponding location. Throughout the process, we saw no LOGO signage belonging to Sinox FX, and had no way to photograph the company's front desk or the front desk LOGO. Moreover, the site is not a shared office type.

Since we were unable to enter the interior area, there was no way to observe the broker's internal office environment, nor could we confirm its interior decoration style, employee activities, or other related conditions. The actual condition of the site completely does not match the office positioning that the broker previously claimed publicly.

Therefore, after the on-site inspection, it is confirmed that broker Sinox FX does not exist at the address publicly indicated above.

Conclusion

The surveyors visited the forex broker Sinox FX in the UAE as planned. At its publicly displayed business address, they did not see any relevant information such as the broker's company name, indicating that the broker does not have a real business location. Investors should make their choices after careful consideration.

Disclaimer

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