Purpose

The UAE foreign exchange market is an emerging offshore forex trading market that has developed over the past two decades. Relying on Dubai's geographical advantage as a financial hub in the Middle East, it has attracted a large number of forex brokers from around the world, making it the core market with the highest forex trading activity in the Middle East. In order to help investors or practitioners gain a more comprehensive understanding of the forex dealers in the region, the fact-finding team went to the UAE to conduct an on-site visit.

Process

This time, the survey team went to the UAE as scheduled to visit the forex broker JEWEL MARKETS on site. According to public information, its office address is Gold souk Deira, Dubai, UAE Gold house Building 4th floor, Office number 411.

A professional and experienced site inspection team, driven by the mission of strictly guarding investors' interests, traveled to the United Arab Emirates according to a well-planned schedule. They conducted an on-site verification of the broker JEWEL MARKETS, which claims to be located at Gold souk Deira, Dubai, UAE Gold house Building 4th floor, Office number 411.

The site inspectors arrived smoothly at Gold house Building, located in the core area of the Gold Souk in the old city center of Dubai, surrounded by a very bustling environment and an extremely strong commercial atmosphere. No company signage or information related to JEWEL MARKETS was found on the exterior of the building; only a complete panoramic view of the building was captured.

The inspectors entered the lobby on the ground floor of the building and stated their purpose to the security guards or staff. After routine registration and communication, they successfully obtained entry permission.

After arriving at the corresponding floor, the inspectors found no office area for JEWEL MARKETS. They did not see any obvious signage bearing the company's name, nor were there any related security measures. Ultimately, they were unable to enter the corresponding office area, and throughout the process they found no scene where the reception desk or its logo could be photographed. The address is also not a shared office.

Through the corridor of the floor's public area, the inspectors observed that the office spaces on the floor were all occupied by other local merchants, and none of them matched the office characteristics of a forex broker as claimed by JEWEL MARKETS. The overall scene was completely inconsistent with its publicly stated business positioning. Although the ground floor had a complete floor directory, it contained no information about JEWEL MARKETS at all, and no logo of the company appeared anywhere inside or outside the building. Throughout the process, the specific location of the company on the corresponding floor could not be confirmed, and they were not permitted to enter any relevant office area to inspect the internal environment.

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

Conclusion

The field inspectors visited the forex broker JEWEL MARKETS in the UAE as planned, but could not see the broker's company name or other information at its publicly displayed business address, indicating that the broker does not have a real business location. Investors should make their choice after comprehensive consideration.

Disclaimer

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