Purpose

The UAE forex market is an emerging international forex trading market that gradually developed in the 1990s. Leveraging Dubai's locational advantage as a Middle Eastern financial hub, it has gathered a large number of institutions related to cross-border financial trading. In recent years, as cross-border investment enthusiasm in the Middle East has risen, it has become a highly active and influential forex trading hub in the region. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the field inspection team traveled to the UAE for an on-site visit.

Process

In this issue, the on-site inspection team traveled to the United Arab Emirates as planned to conduct an on-site visit to forex broker Shenzhou Capital. According to publicly available information, its office address is M-01, Mezzanine Floor, Al Sabkha Tower, Al Sabkha, Dubai, U.A.E.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, traveled to the United Arab Emirates according to a meticulous plan. They conducted an on-site inspection of broker Shenzhou Capital, which claims to be located at M-01, Mezzanine Floor, Al Sabkha Tower, Al Sabkha, Dubai, U.A.E.

After successfully arriving at Al Sabkha Tower, the location is in the core downtown area of old Dubai. It is a high-end luxury office building in the old city area, with mature surrounding amenities, heavy pedestrian traffic, and a very strong commercial atmosphere.

Throughout the exterior of the building, no company signage or related display information bearing the name Shenzhou Capital was found.

After entering the ground-floor lobby of the building, we stated our purpose to the on-site staff and, after a simple information registration, successfully obtained permission to enter the public areas of the building.

After checking the public signage throughout the building, it was found that the ground floor had no complete tenant directory board, no name-directory information related to Shenzhou Capital could be found anywhere inside the building, and no office-area signage belonging to the broker was seen at any point. We could neither photograph the corresponding company's reception desk nor find any display bearing the company's LOGO, and the premises did not fall under a shared-office business format.

When attempting to go to the marked M-01 area on the mezzanine to confirm the location, we found that the corresponding floor is currently a government-related service center. Unauthorized persons are not allowed to freely enter non-public office areas, so we could not reach the target floor to confirm the specific location, much less enter the corresponding company's premises to inspect the situation.

Therefore, after the on-site inspection, it was confirmed that broker Shenzhou Capital does not exist at the above publicly stated address.

Conclusion

The field inspectors went to the United Arab Emirates as planned to conduct an on-site visit of forex broker Shenzhou Capital. At the business address publicly displayed by the broker, they were unable to see the broker's company name or other information, indicating that the broker does not have a real business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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