Purpose

The UAE foreign exchange market is a regional core forex trading market that has gradually developed over the past two decades. Leveraging Dubai's geographical advantage as the financial hub of the Middle East, it has attracted a large number of licensed and various forex-related institutions, serving cross-border trading demand across the entire Middle East and North Africa region. The market is highly active and open to global investors. To help forex investors gain a more comprehensive and authentic understanding of the actual operations of local forex dealers, we conducted an on-site visit in Dubai, UAE, to verify the authenticity of the dealers' publicly disclosed business addresses.

Process

This visit, as planned, traveled to the UAE to conduct an on-site visit to the forex broker NCM. According to public information, its office address is Al Wasl - Office No.3009 - Al Skeikh Said Bin Maktoum Bin Rashid Al Maktoum.

With extensive hands-on inspection experience, the inspection team set out for Dubai, UAE, along a pre-planned route with the original intention of strictly safeguarding the trading security for investors, to conduct an on-site inspection of the broker NCM claimed to be located at the said address.

The inspection team arrived at the target location smoothly. The site is in the prime area of downtown Dubai, surrounded by a mature commercial cluster, with a bustling and lively environment and a strong business atmosphere. The building itself is a well-equipped shopping mall, with an office tower attached to its upper levels. No signage information related to the broker NCM was found on the exterior of the building.

The inspection team successfully entered the lobby on the first floor of the building. After stating their purpose to the lobby staff and completing basic visitor registration, they smoothly obtained access to the lobby area.

Inside the building lobby, a complete floor directory was set up beside the service desk, clearly displaying the names and corresponding room numbers of all tenant companies. After carefully checking all published information line by line, the team found no entries related to the broker NCM, nor did they find any brand LOGO set up by the broker inside or outside the building.

At the same time, the high-rise office areas of the building are under strict access control. Without an advance reservation, permission to go upstairs could not be obtained. Therefore, they were unable to reach Room 3009 on the 30th floor to confirm its exact location, and were completely unable to enter the company, let alone have the opportunity to photograph the front desk and its LOGO. The premises also do not belong to a shared office format.

Since they could not go upstairs, the team was unable to observe the internal office environment of the broker. This situation is completely inconsistent with the broker's publicly claimed positioning of having an operational office here.

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

Conclusion

The inspection team visited the UAE as planned to conduct an on-site visit to forex broker NCM. At its publicly displayed business address, they could not see the broker's company name or related information, indicating that the broker does not have a real place of business. Investors are advised to verify based on comprehensive information from multiple sources and make cautious trading decisions.

Disclaimer

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