Purpose

The UAE forex market is an emerging international foreign exchange trading market that has developed over the past two decades. Leveraging Dubai's strategic position as a financial hub in the Middle East, it has attracted a large number of forex brokers from around the world, covering the entire Middle East, North Africa, and surrounding regions. With high market openness and strong capital flow freedom, it is the preferred destination for many international forex brands looking to expand their Middle East business. 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 field visits.

Process

The on-site inspection team for this issue went to the UAE as planned to visit the forex broker NCM Investment. According to public information, its office address is The H-Hotel Dubai Offices Tower, Level 15, Office No.1502 Sheikh Zayed Road, P.O. Box 31045 Dubai, United Arab Emirates.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors, traveled to the United Arab Emirates according to a well-planned itinerary. They conducted a field verification of the broker NCM Investment, which claimed to be located at Suite 1502, 15th Floor, The H-Hotel Dubai Offices Tower.

The team arrived smoothly at The H-Hotel Dubai Offices Tower, which is located in the core business district of downtown Dubai, surrounded by high-end office buildings and commercial facilities, with a strong business atmosphere. The entire building is a luxurious commercial tower in downtown Dubai, featuring exquisite and imposing exterior decoration. No company logos or promotional information related to NCM Investment were found outside the building.

Upon entering the first-floor lobby of the building, the team stated their purpose to the on-site staff and, after registering visitor information, successfully obtained permission to enter the lobby.

The team checked the complete company directory board in the first-floor lobby one by one against the list of all tenant companies. The tenant corresponding to the 15th-floor office indicated on the directory board was not NCM Investment. Throughout the process, no name or signage related to this broker was found in the building's public areas.

In the subsequent attempt to reach the target 15th floor, due to building visitor access restrictions, the team was unable to reach the target floor to confirm the actual use of Suite 1502. No office area for NCM Investment was found either, and no obvious signage of the company was found throughout the process. Because the visitor appointment with the corresponding company had not been made in advance, the team was unable to enter the corresponding office area. No photos were taken of the company's front desk or its front desk logo during the entire process, and the premises did not belong to a shared office either.

Since the team was unable to enter the target office area, it was impossible to observe the company's internal office environment or verify the information related to its claimed scale of operations. The overall on-site situation was inconsistent with the business address information publicly disclosed by this broker.

Therefore, after the on-site inspection, it was confirmed that the broker NCM Investment does not exist at the above-mentioned publicly stated address.

Conclusion

The on-site inspectors went to the United Arab Emirates as planned to visit the forex broker NCM Investment in person. At its publicly displayed business address, they could not see the broker's company name or other information, indicating that the broker does not have a real business premises. Investors should make their choice after comprehensive consideration.

Disclaimer

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