Purpose

The UAE foreign exchange market is an emerging international forex trading market that has developed over the past two decades. Leveraging Dubai's geographical advantage as a financial hub in the Middle East, it has attracted a large number of licensed forex brokers from around the world. The market combines openness with regulatory standardization, serving as a core forex trading hub radiating across the entire Middle East and North Africa region. To help investors and practitioners gain a more comprehensive understanding of forex brokers in this region, the field inspection team traveled to the UAE for an on-site visit.

Process

The site inspection team traveled to the UAE as planned to conduct an on-site visit to forex broker MERAJ MARKETS LTD. According to public information, its office address is Fahidi Heights Office Tower (Al Musalla Tower), 4th Floor, Bur Dubai, Office No. 129. P.O. Box 624699 Dubai, UAE.

A professional and experienced site inspection team, with the sense of mission to strictly vet for investors, traveled to the United Arab Emirates in accordance with meticulous planning. They conducted an on-site verification of the broker MERAJ MARKETS LTD, that claims to be located at the aforementioned address.

They successfully arrived at Fahidi Heights Office Tower (also known as Al Musalla Tower), located in a bustling area of Dubai. It is a luxury building in the center of Dubai, with complete commercial facilities in the surrounding area, many businesspeople coming and going, and a very strong business atmosphere. No company signage or related promotional information bearing MERAJ MARKETS LTD was found outside the building.

The inspectors entered the ground-floor lobby of the building, stated their purpose to the on-site staff, and after simple information registration, successfully obtained permission to enter the lobby.

They carefully examined the complete floor directory board installed in the lobby, which listed the names of all tenant companies and their corresponding floor and room numbers. After checking each entry from beginning to end, they found no information related to MERAJ MARKETS LTD, nor any tenant marked as Office 129 on the 4th floor.

Because the company's registration information could not be found on the directory board, and the on-site staff were also unable to grant floor access for the company, the team ultimately failed to reach the target 4th floor to confirm its exact location, let alone access the company's office area. Throughout the process, no obvious signage or security measures of the company were found. There was no way to enter the company's premises, nor was it possible to photograph the reception desk and its logo, and the premises are also not of the shared-office type.

Since access could not be obtained, the company's internal environment could not be seen at all, and its decoration style and employee activity could not be confirmed; the state of the premises is completely inconsistent with its claimed positioning of establishing an office at this address.

Therefore, the site inspection confirmed that broker MERAJ MARKETS LTD does not exist at the aforementioned address.

Conclusion

The field inspectors went to the UAE as planned to visit forex broker MERAJ MARKETS LTD in person. 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 business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not serve as the basis for final decisions.