Purpose

The UAE foreign exchange market is an emerging forex market developed in recent years. Leveraging its advantageous geographical location, open financial policies, and well-developed economic system, it has become an important forex trading hub in the Middle East. To provide investors and practitioners with a more comprehensive understanding of forex brokers in the region, the survey team conducted an on-site visit to the UAE.

Process

This time, the on-site survey team went to the UAE as planned to visit forex broker Crown fx. According to public information, its office address is 1007, 10th floor, IRIS BAY, BUSINESS BAY, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly vet for investors, went to the UAE according to a thorough plan. They conducted a field verification of the broker Crown fx claiming to be located at 1007, 10th floor, IRIS BAY, BUSINESS BAY, Dubai, UAE.

The on-site inspectors arrived smoothly at the IRIS BAY building, which is located in downtown Dubai. It is a super-luxury office building with a bustling surrounding environment and a strong business atmosphere. However, no company signage or related information of Crown fx was found outside the building.

The on-site inspectors entered the first floor of the building. After stating their purpose to the security guard, they obtained permission to enter. After entering the building, they did not find any company directory listing for Crown fx nor see the company's logo.

The on-site inspectors attempted to go to the target floor, the 10th floor, but upon reaching the corresponding office 1007, they found it occupied by another company. They could not confirm whether this company was related to Crown fx. Due to the inability to confirm the relationship between the office and Crown fx, the inspectors were unable to enter the interior, nor could they photograph the reception area or its logo. The office was also not a shared office.

Through the glass door, due to being unable to enter, the on-site inspectors could not observe the internal environment of the company. The overall situation does not match the claimed location of Crown fx.

Therefore, after the on-site inspection, it was confirmed that the broker Crown fx does not exist at the above address.

Conclusion

The on-site inspection team traveled to the UAE as planned to conduct a field visit to forex dealer Crown fx. At its publicly displayed business address, they could not see the dealer's company name or other information, indicating that the dealer has no real place of business. Investors should make their choice after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and do not constitute a basis for final decision.