Purpose

The UAE foreign exchange market is an emerging forex market that has developed in recent years. Leveraging its advantageous geographical location, open financial policies, and developed financial infrastructure, it occupies an important position in the Middle East region and even the global forex market. In order to help investors or practitioners gain a more comprehensive understanding of forex dealers in this region, the field inspection team went to the UAE for an on-site visit.

Process

This time, the on-site inspection team went to the UAE as planned to visit forex broker SAXO. According to public information, its office address is Unit 11 , Level 1, Gate Village Building 3, DIFC, PO Box 506830, Dubai, UAE.

A professional and experienced site visit team, with a sense of mission to strictly vet for investors, went to the UAE according to a meticulous plan. They conducted an on-site verification of the broker SAXO claiming to be located at Unit 11, Level 1, Gate Village Building 3, DIFC, PO Box 506830, Dubai, UAE.

The site visit personnel arrived smoothly at Gate Village Building 3, which is located in the core area of Dubai, with a bustling surrounding environment and a strong business atmosphere. However, no company logo or related information of SAXO was found outside the building.

The site visit personnel entered the lobby of the building and stated their purpose to the security guard. After communication, they obtained entry permission. However, no company nameplate of SAXO was found inside the building.

Originally planned to go to the target floor, Level 1, but after the front desk assisted in checking, it was learned that the corresponding Unit 11 office was no longer SAXO's company. The staff indicated that the company might have previously worked here but is no longer present, so they were unable to reach the specific floor and confirm the exact location, nor could they enter the company interior. Since they could not enter the company, they naturally could not take photos of the front desk and its logo, and the office was not a shared office.

Through the lobby area, the internal office environment and other conditions of the company could not be observed.

Therefore, after the site visit, it was confirmed that the broker SAXO does not exist at the above address.

Conclusion

The survey personnel went to the UAE as planned to visit forex broker SAXO on site. At its publicly displayed business address, they could not see the company name or other information of the broker, indicating that the broker does not have a real business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and do not constitute the basis for final selection.