Purpose

The UAE foreign exchange market is a core regional foreign exchange trading market that has gradually developed over the past three decades. Leveraging Dubai's geographical advantage as a financial hub in the Middle East, it has gathered a large number of foreign exchange brokers from around the world and serves as an important trading node connecting foreign exchange flows across the three continents of Europe, Asia, and Africa. To help investors or practitioners gain a more comprehensive understanding of the foreign exchange brokers in the region, the field inspection team traveled to the UAE for an on-site visit.

Process

In this issue, the on-site inspection team went to the United Arab Emirates as planned to conduct an on-site visit to forex broker Apten. According to publicly available information, its office address is Dubai United Arab Emirates Platinum Tower – Office 3305 Premise RT: 2.8.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, traveled to the United Arab Emirates according to a well-planned schedule. They conducted an on-site verification of the broker Apten, which claims to be located at Dubai United Arab Emirates Platinum Tower – Office 3305 Premise RT: 2.8.

The team successfully arrived at the target building, which is located in Dubai's core commercial area and is a local ultra-luxury office building, with a very strong overall commercial atmosphere in the surrounding area.

No company signage or related information associated with Apten was found outside the building.

The team entered the ground-floor lobby of the building and stated their purpose to the security guard or staff. After basic information registration and communication, they successfully obtained permission to enter the lobby. The office building has extremely strict security, and the first floor does not have a complete floor directory of companies,

Throughout the entire process, no LOGO signage belonging to Apten was found inside or outside the building. Because there was no prior appointment, the team could not obtain permission to go upstairs, could not reach the specific location on the target 33rd floor, and had no way to enter the corresponding office area. They were unable to photograph the broker's reception desk or the LOGO at the reception desk throughout the process. After verifying with lobby staff, part of the space on that floor belongs to a shared office area.

The team tried to look inside from a distance through the glass door area on the floor indicated by the lobby, but because they could not go upstairs, they could not see the company's internal environment in the corresponding area at all, nor could they confirm the broker's actual office layout. The other party explicitly prohibited unauthorized personnel from entering non-authorized floors, making it completely impossible to verify whether it matches its publicly claimed business positioning.

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

Conclusion

The field inspection personnel went to the UAE as planned to conduct an on-site visit to forex broker Apten. At the business address publicly displayed by the broker, they were unable to see information such as the broker's company name, 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 opinions are for reference only and should not be used as the basis for final selection.