Purpose

Dubai's forex market in the United Arab Emirates is a core regional forex trading market that has gradually developed over the past two decades. Relying on the local liberal financial policies and its geographical advantage of connecting Europe, Asia, and Africa, it has gathered a large number of international financial institutions and trading service providers. It is the core market in the Middle East with the highest forex trading activity and the greatest freedom of capital flow. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the field inspection team traveled to Dubai, United Arab Emirates, for an on-site visit.

Process

In this issue, the on-site inspection team traveled to Dubai, UAE as planned to conduct an on-site visit to forex broker Kaloti. According to public information, its office address is 35 F, Almas Tower , Jumeirah Lakes Tower Sheikh Zayed Road, Dubai , UAE . P.O Box 116858.

A professional and experienced on-site inspection team, with a sense of mission to rigorously vet for investors, traveled to Dubai, UAE, in accordance with a meticulous plan. They conducted on-site verification of the broker Kaloti claiming to be located at 35 F, Almas Tower , Jumeirah Lakes Tower Sheikh Zayed Road, Dubai , UAE . P.O Box 116858.

The team successfully arrived at Almas Tower, which is located in the commercial cluster area along Sheikh Zayed Road in the core of Dubai, surrounded by a contiguous stretch of high-end business office buildings, with a very strong commercial atmosphere, and is a locally recognized ultra-luxury office building cluster.

No company signage or information related to Kaloti was found outside the building, and the team fully photographed and recorded the panoramic appearance of the building.

The team entered the ground-floor lobby of the building and explained their purpose to the security guards and staff. After identity registration and explaining their purpose, they successfully obtained permission to enter the lobby area.

After inspecting the ground-floor lobby area, the team found that there was no complete floor company directory board installed here, and they could not find any company name corresponding to Kaloti or occupancy guidance information for the 35th floor.

Because the office building's security is extremely strict, and the team had not made an appointment with the company in advance, they were unable to obtain permission to go upstairs and could not reach the target 35th floor. Naturally, they also could not find Kaloti's office area. Throughout the process, no area with any Kaloti signage was found. They could neither photograph the reception desk nor the reception desk logo, and the address does not fall within the category of shared offices.

Because they could not go upstairs, the team had no opportunity at all to access the company's internal space, much less enter the company to inspect the environment. They also could not confirm whether the company actually has an office in this building. The overall situation is completely inconsistent with the address information publicly disclosed by the broker.

Therefore, after the on-site inspection, it is confirmed that broker Kaloti does not exist at the above publicly disclosed address.

Conclusion

Field inspectors went to Dubai, United Arab Emirates as planned to conduct an on-site visit to forex broker Kaloti. At its publicly disclosed business address, they could not see the broker's company name or other information, indicating that the broker does not have a real physical 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 be used as the basis for final selection.