Purpose

The UAE forex market is a regional core forex trading market that has gradually developed over the past two decades. Leveraging Dubai's location advantage as the Middle East's financial hub, it has gathered a large number of licensed international financial institutions and forex brokers. It has a high degree of market openness and a mature regulatory system, and is an important forex trading distribution center radiating across the entire Middle East and North Africa 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 UAE as planned to conduct an on-site visit to forex broker North Star DMCC. According to public information, its office address is Unit No. 5446 Almas Tower, JLT Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, went to the UAE according to a well-planned schedule. They conducted an on-site verification of the broker North Star DMCC, which claims to be located at Unit No. 5446 Almas Tower, JLT Dubai, UAE.

The team successfully arrived at Almas Tower, which is located in Dubai's core JLT business cluster area. The surrounding area is a mature high-end commercial district, with a clean and luxurious overall environment and a very strong commercial atmosphere.

No company signs or information related to North Star DMCC were found outside the building. The team completely photographed and recorded the panoramic appearance of the building.

The team entered the ground floor lobby of the building and explained their purpose to the security guards or staff. After communication and registration, they successfully obtained permission to enter the lobby.

There was no complete floor company directory in the lobby, and no relevant identification information for North Star DMCC could be found at all.

Because the office building had extremely strict security and the team had not made an appointment in advance, they could not obtain permission to go upstairs or reach the marked specific floor to confirm the corresponding location. Naturally, they also had no opportunity to access North Star DMCC's office area. Throughout the process, no obvious signage or security measures of the company were found. They were completely unable to enter the company's interior, and there was no situation involving a shared office. It was even more impossible to photograph the reception desk or the LOGO at the reception desk.

Because they could not go upstairs, the team had no way to observe the company's internal environment through any area, nor could they judge whether its internal environment matched its claimed positioning.

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

Conclusion

The field inspection personnel went to the UAE as planned to conduct an on-site visit to the forex broker North Star DMCC. At the business address it publicly displayed, 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 regarded as the final basis for selection.