Purpose

The UAE forex market is a regional core forex market that has gradually developed over the past two decades. Leveraging Dubai's locational advantage as a financial hub in the Middle East, it has attracted a large number of forex brokers from around the world, serving forex investment demand across the entire Middle East and North Africa region, with a high degree of market openness and frequent cross-border business dealings. In order to help investors or practitioners gain a more comprehensive understanding of the actual operating conditions of forex brokers in the region, the field inspection team traveled to the UAE for an on-site visit.

Process

In this issue, the field inspection team traveled to the UAE as planned to conduct an on-site visit to forex broker FxCape. According to public information, its office address is Media One Tower, 85, Al Falak Street, Dubai.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, according to a well-planned schedule, traveled to the UAE. They conducted an on-site verification of the broker FxCape that claims to be located at Media One Tower, 85, Al Falak Street, Dubai.

Successfully arrived at Media One Tower, which is located in Dubai's core business district, surrounded by dense commercial facilities. The overall environment is clean and prosperous, with a very strong commercial atmosphere. The on-site inspection team took a complete panoramic picture of the building. Outside the building, no company signs or information related to FxCape were found.

Entered the ground floor lobby of the building and stated the purpose of the visit to the security guard or staff. After the routine visitor registration communication, permission to enter the lobby was obtained.

After checking the relevant guide signs in the lobby, it was found that the ground floor did not have a complete floor company directory, and there was no specific floor information corresponding to FxCape. It was impossible to confirm the actual floor of the broker, and no relevant prompts pointing to the company's location were found. Therefore, it was impossible to reach the target floor to confirm the specific location. Throughout the process, no office area of FxCape was found, there were no obvious signs or security measures, and there was no situation of a shared office. There was no opportunity to take pictures of the company's reception desk and the LOGO on the reception desk.

Since the specific floor could not be confirmed and there was no visitor appointment authorization for the corresponding company, it was impossible to access the company's glass door or reception area, completely unable to enter the company's interior, and unable to observe the company's internal environment. The overall situation did not match the broker's claimed position of having an office at this address.

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

Conclusion

As planned, field inspection personnel went to the United Arab Emirates to conduct an on-site visit of forex broker FxCape. At its publicly displayed business address, they were unable to 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 views are for reference only and should not be used as the basis for final selection.