Purpose

The UAE foreign exchange market is an emerging international forex trading market that has developed rapidly over the past two decades. Relying on the policy and geographical advantages of the Dubai International Financial Centre (DIFC), it has brought together a large number of licensed financial institutions from around the world and is one of the most dynamic forex trading hubs in the Middle East. In order to help investors or practitioners gain a more comprehensive understanding of the forex dealers in the region, the visiting team went to the UAE for an on-site visit.

Process

The visiting team went to the UAE as planned to conduct an on-site visit to foreign exchange broker HeynepMarkets. According to public information, its office address is Tenancy 903, Level 9, Liberty House, DIFC, PO Box 506540, Dubai, UAE.

The professional and experienced inspection team, with a sense of mission to strictly safeguard investors, went to the UAE according to a meticulous plan. They conducted an on-site verification of the broker HeynepMarkets claiming to be located at Tenancy 903, Level 9, Liberty House, DIFC, PO Box 506540, Dubai, UAE.

The inspectors successfully arrived at the target building. The location is in an ultra-luxury office building cluster in downtown Dubai, with a strong commercial atmosphere, and belongs to Dubai's core financial industry cluster. The team fully captured panoramic views of the building.

No company signs or information related to HeynepMarkets were found outside the building.

The inspectors successfully entered the building lobby. After stating their purpose to the on-site staff, due to the lack of prior appointment and the strict security management of the building, they were only allowed to stay in the lobby area and did not obtain permission to enter the high-rise office areas.

The visiting personnel could not reach the target 9th floor, nor could they confirm the specific situation of unit 903 on that floor. Throughout the entire process, no obvious signage or related displays were found in the office area of HeynepMarkets, throughout the whole inspection they are unable to capture the front desk and the front desk's LOGO, the venue is also not a shared office.

Due to security restrictions, we were unable to enter the internal area, nor obtain more information about the company's office premises, nor observe the company's internal environment. The overall situation completely fails to corroborate the office address claimed by the broker.

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

Conclusion

The field inspectors visited the forex broker HeynepMarkets in the UAE as planned. At its publicly displayed business address, they could not see the company name or other information of the broker. There was no complete company directory in the building, nor any related logo signage, indicating that the broker does not have a real business premises. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and shall not be used as the basis for final selection.