Purpose

The UAE foreign exchange market is an emerging regional core forex market developed over the past two decades. Leveraging the international financial port advantages of Dubai, it attracts a large number of forex brokers from around the world and serves as the central distribution hub for forex trading business in the Middle East and North Africa region. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team traveled to the UAE for a field visit.

Process

This time, the on-site inspection team went to the UAE as planned to visit the forex broker DECENT MARKETS. According to public information, its office address is Sherina Plaza, Unit 308, New Gold Souq, Dubai.

A professional and experienced on-site inspection team, driven by the mission of strictly vetting on behalf of investors, traveled to the UAE according to a well-planned itinerary to conduct an on-site verification of the broker DECENT MARKETS, which claims to be located at Sherina Plaza, Unit 308, New Gold Souq, Dubai.

The team arrived at Sherina Plaza without difficulty. The site is located in Dubai's old town, surrounded by street-front areas of the traditional gold souq, with a rich local atmosphere and a commercial environment oriented toward offline brick-and-mortar retail.

No company signage or related information about DECENT MARKETS was found outside the building, and the team also took full panoramic photographs of the building.

The team attempted to enter the building lobby and stated the purpose of their visit to the management staff at the entrance. After communication, they were not granted entry. As a result, they could not reach the specific floor to confirm the actual condition of Unit 308.

Throughout the process, no obvious signage or security measures related to DECENT MARKETS's office area were found. With entry into the building impossible, there was no possibility of photographing the front desk or the front desk logo, and the premises are not a shared office.

The team could not observe the company's internal environment through the glass doors or the front desk area. The relevant area falls within private residential premises and does not allow outsiders to enter at will, which is completely inconsistent with its claimed positioning as a legitimate commercial office business.

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

Conclusion

The on-site inspection personnel went to the UAE as planned to conduct a field visit to forex broker DECENT MARKETS. At its publicly displayed business address, they did not see the broker's company name or other information. The building at this address is not an office building but an apartment building, which is completely unsuitable for commercial business operations, indicating that the broker does not have a real business location. Investors should make their choices after comprehensive consideration.

Disclaimer

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