Purpose

The UAE forex market is an emerging offshore forex trading market that has developed over the past two decades. Leveraging Dubai's location advantage as the Middle East's financial hub, it gathers a large number of forex brokers from around the world, serving cross-border trading needs 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 on-site visits.

Process

In this issue, the on-site inspection team went to the UAE as planned to conduct an on-site visit to forex broker JAYPEE. According to public information, its office address is AU-17-G, Gold Tower (AU), P.O. Box 120371, Jumeirah Lakes Towers, Dubai UAE.

A professional and experienced team, with a sense of mission to strictly vet for investors, and in accordance with a well-planned itinerary, traveled to the UAE. They conducted an on-site verification of the broker JAYPEE that claims to be located at AU-17-G, Gold Tower (AU), P.O. Box 120371.

The team successfully arrived at the Gold Tower building. The location is in Dubai's core commercial area and is a local ultra-luxury office building with a strong surrounding commercial atmosphere. Outside the building, no company signage or information related to JAYPEE was found, and the team fully photographed and recorded the building's panoramic appearance.

The team entered the building's first-floor lobby and explained their purpose to the security guard or staff. After communication, they obtained permission to enter the lobby. The security of the entire office building is extremely strict; the first floor does not have a complete company directory, and no relevant occupancy record of JAYPEE could be found from the information publicly displayed in the lobby. The company's LOGO did not appear on either the exterior or interior of the building. Because an appointment had not been made in advance, the team could not go upstairs, could not reach the marked specific floor to confirm the corresponding location, and could not enter the so-called JAYPEE office area. Throughout the process, there was no opportunity to photograph the company's reception desk or the LOGO at the reception desk, and the address is not a shared office either.

Because they could not enter the corresponding floor, the team had no way to observe the company's internal environment, decoration style, or employee activities, nor could they judge whether its office environment matched the claimed positioning.

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

Conclusion

The team went to the UAE as planned to conduct an on-site visit of the forex broker JAYPEE, but at its publicly displayed business address, no information such as the broker's company name could be seen, indicating that the broker does not have a real business premises. Investors are advised to make a choice after comprehensive consideration.

Disclaimer

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