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 advanced financial infrastructure, it has gradually become one of the important foreign exchange trading centers in the Middle East and even globally. In order to help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the fact-finding team visited the UAE for on-site inspections.

Process

This field investigation team has planned to go to the UAE to physically visit the forex broker Webfox as scheduled. According to public information, its office address is 1204 Saheed Tower - 1, OPP future Museum, Nr Latifa Tower, Shaikh Zayed Road, Dubai.

A professional and experienced site inspection team, driven by a sense of mission to strictly vet on behalf of investors, traveled to the United Arab Emirates according to a meticulous plan to conduct an on-site inspection of broker Webfox, which claims to be located at the address.

The inspectors successfully arrived at the target building, a landmark tower in downtown Dubai, right next to the iconic Museum of the Future. The surrounding area is bustling with a strong commercial atmosphere.

No company signage or related information was found on the exterior of the building. However, the inspectors photographed the building's directory board, but the floor indicated on the board did not match the floor claimed by the broker.

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

However, due to the company's strict security, the inspectors were unable to reach the target floor to confirm the specific location, nor could they enter the company's interior. They could not photograph the front desk or its logo, and the office was not a shared office. From the lobby area, the company's internal environment could not be observed, and the overall situation did not match its claimed positioning.

Therefore, after the inspection, it was confirmed that broker Webfox does not exist at the above address.

Conclusion

The field inspectors went to the UAE as planned to conduct an on-site visit to forex broker Webfox. At its publicly displayed business address, they did not see the broker's company name or other information, indicating that the broker does not have a real place of business. Investors should make their choice after comprehensive consideration.

Disclaimer

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