Purpose

The UAE foreign exchange market is an emerging forex market that has developed in recent years. With its superior geographical location, open financial policies, and developed infrastructure, it has attracted the attention of many international financial institutions and investors. In order to help investors or practitioners gain a more comprehensive understanding of the forex brokers in the region, the field survey team went to the UAE for on-site visits.

Process

This time, the on-site inspection team went to the UAE to conduct a field visit to the forex broker Universal Forex, according to public information its office address is Level 23, Boulevard Plaza 2 Sheikh Mohammed bin Rashid Boulevard - Dubai.

The professional and experienced site inspection team, with the mission of rigorously vetting on behalf of investors, proceeded to the United Arab Emirates according to a well-planned itinerary. They conducted an on-site verification of the broker Universal Forex, which claims to be located at Level 23, Boulevard Plaza 2 Sheikh Mohammed bin Rashid Boulevard - Dubai.

The inspectors arrived smoothly at the Boulevard Plaza 2 building. The location is in downtown Dubai, right next to Burj Khalifa and Dubai Center, and is connected to a metro station. The surrounding area is bustling with a strong commercial atmosphere. The building is luxuriously decorated; however, no company signs or related information were found on the exterior of the building.

The inspectors entered the building's lobby, stated their purpose to the security guard, and after communication, obtained permission to enter.

However, the company's name was not found on the building directory, and no company logo was seen either. Since the company's specific location could not be confirmed, they could not reach the target 23rd floor, and therefore could not confirm whether the company's office area had obvious signage or security measures. Because they could not reach the corresponding floor, they could not enter the company's interior, nor could they photograph the front desk and its logo. The inspectors photographed the building directory and found that the corresponding office is a shared office, making it impossible to confirm whether the company actually exists.

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

Conclusion

The inspection team went to the UAE as planned to visit the forex broker Universal Forex. At its publicly displayed business address, no company name or other information of the broker was found, indicating that the broker does not have a real business premises. 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 decision.