Purpose

The UAE foreign exchange market is a core regional forex trading market in the Middle East that has developed over the past two decades. Relying on Dubai's locational advantage as a global financial hub, it brings together a large number of forex brokers from around the world. The market is highly open and cross-border trading activity is extremely strong, making it an important node connecting forex business across Europe, Asia, and Africa. To help investors more comprehensively verify the actual operating conditions of forex brokers in the region, we traveled to Dubai, UAE to conduct an on-site visit.

Process

This issue's visit proceeded as planned to the United Arab Emirates to conduct an on-site visit to the forex broker R24 CAPITAL, with public information showing its office address is O307A-DEIRA TOWER, AL REGA P.O.Box 1451, Dubai, United Arab Emirates.

A visiting team with extensive verification experience, driven by a sense of mission to strictly safeguard investors, traveled to Dubai, United Arab Emirates following a meticulous plan. They conducted an on-site inspection of the broker R24 CAPITAL that claims to be located at this address.

They arrived smoothly at the DEIRA TOWER building. This location is in the downtown area of Dubai's old city, and the surrounding area is overall a mature core business district. The building's exterior decoration is extremely luxurious, and at first glance it has very high-end business attributes.

Outside the building, no company signage or related promotional information for R24 CAPITAL was found at all.

Visitors enter the first-floor lobby of the building, state their purpose to the staff, complete routine visitor registration, and successfully obtain entry permission.
After checking the complete floor directory set up on the first floor, no company name information corresponding to R24 CAPITAL was seen on the directory at all.

In the process of attempting to go to the target floor to confirm the specific location, it was discovered that the office labeled O307A actually belongs to a completely different company and has no connection with R24 CAPITAL.
This office area has no obvious signage of any R24 CAPITAL. Since the actual operating entity corresponding to the target address is not this broker, we were unable to enter the relevant internal area throughout the entire process; we could not photograph the front desk or the LOGO at the front desk, and the address is not a shared office either.

Due to permission restrictions, it is impossible to enter the corresponding office space, and it is completely impossible to observe the internal environment of the so-called R24 CAPITAL. The actual situation at this address is completely inconsistent with the business positioning claimed by the broker.
Therefore, after this on-site inspection, it is confirmed that the broker R24 CAPITAL does not exist at the publicly listed address above.

Conclusion

Visiting personnel went to the UAE as planned to conduct an on-site visit of forex broker R24 CAPITAL. At its publicly displayed business address, they could not see any relevant information such as the broker's company name, indicating that the broker does not have a real business premises. Investors are advised to make a choice after comprehensive consideration.

Disclaimer

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