Purpose

The UAE forex market is a regional core forex trading market that has gradually developed over the past two decades. Leveraging Dubai's advantageous location as an international financial hub, it has gathered a large number of licensed and unlicensed forex brokers from around the world. With ample market liquidity and a diverse regulatory system, it is the core distribution hub for forex trading in the Middle East. To help investors gain a more comprehensive understanding of the actual business operations of forex brokers in the region, we traveled to Dubai, UAE, for an on-site visit.

Process

In this edition, the on-site inspection team traveled to Dubai, UAE as planned to conduct an on-site visit to forex broker Citrova Capital Limited. According to public information, its office address is Office No. MF- 0119, Golden Eyes Business Center, Al Muteena Area, Deira, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, proceeded to Dubai, UAE according to a meticulous plan. They conducted an on-site verification of the broker Citrova Capital Limited, which claims to be located at Office No. MF- 0119, Golden Eyes Business Center, Al Muteena Area, Deira, Dubai, UAE.

The on-site inspectors successfully arrived at the target building. The location is in Dubai's old city area and is a relatively luxurious office building locally, with mature surrounding facilities and a strong commercial atmosphere.

No relevant signage information of Citrova Capital Limited was found outside the building.

The on-site inspectors entered the building lobby and explained their purpose to the security guard. After registration and communication, they successfully obtained permission to enter the lobby. The first floor of the building has a complete directory board, which indicates a business center called smart Eyes Business center. According to Google search verification, this is the golden Eyes Business center mentioned in public information. There is no company directory information related to Citrova Capital Limited on the directory board.

Due to strict building security, the on-site inspectors were unable to go upstairs to take photos, could not reach the target floor to confirm the specific location, and could not access the broker's office area. Throughout the process, no office area with obvious Citrova Capital Limited signage was found. They could neither photograph the reception desk nor the reception desk's LOGO. The space corresponding to this address is essentially a shared office, and they did not have permission to enter the internal area.

The on-site inspectors were unable to observe the broker's internal environment through any glass door or reception area. Throughout the process, they did not obtain any relevant information such as the company's employee activities or decoration style, and could not confirm whether its operating status matches the business positioning it publicly claims.

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

Conclusion

On-site inspectors went to the United Arab Emirates as planned to conduct an on-site visit of forex broker Citrova Capital Limited. At its publicly listed business address, they could not 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 serve as the basis for final selection.