Purpose

The UAE foreign exchange market is an emerging regional international forex trading market that has developed over the past two decades. Relying on Dubai's status as a financial hub, it brings together a large number of cross-border financial dealers and is one of the most active forex trading markets in the Middle East. In order to help investors or practitioners gain a more comprehensive understanding of forex dealers in the region, the on-site inspection team visited the UAE for field research.

Process

This issue's field survey team went to the UAE as planned to visit forex broker New Stone Fx. According to public information, its office address is RKM Bldg, Near All Qiyadah Metro Station, Abu Hail, Dubai, UAE.

A professional and experienced on-site inspection team, driven by the mission of strictly protecting investors, traveled to the United Arab Emirates in accordance with a carefully planned schedule. They conducted an on-site verification of the broker New Stone Fx, which claimed to be located in RKM Building.

Upon successfully arriving at the target area, it could be observed that the location is situated in a relatively remote part of Dubai, away from the city center. The surrounding streets were bustling, with dense traffic and shops. RKM Building is a low-rise building, and no company signage or promotional information related to New Stone Fx was found on the exterior of the building.The on-site inspection team successfully entered the building lobby, stated their purpose to the on-site staff, and after brief communication and registration, obtained permission to inspect the lobby area.

After checking all floor directories and company nameplate display areas in the lobby, no name markings related to New Stone Fx were found at all. In addition, the public address provided by the broker did not specify a particular floor, making it completely impossible to confirm the specific floor where the company is located. Naturally, the team could not reach the target floor to verify the corresponding office area. Throughout the entire process, no office area signage of New Stone Fx was found, and there were no related security measures either. Due to the lack of critical floor information in the address, further visits to upper floors were impossible, and there was no opportunity to take any photos of the broker's front desk or front desk logo. The premises also do not belong to a shared office.

Since the specific office location could not be confirmed and there was no permission to enter office areas without clear ownership, the internal environment of the company could not be observed. The overall situation is completely inconsistent with its claimed positioning of having a business location at this address.

Therefore, after the on-site inspection, it was confirmed that the broker New Stone Fx does not exist at the above address.

Conclusion

The site inspection team went to the UAE as planned to visit forex broker New Stone Fx in person. At its publicly displayed business address, the team could not see the broker's company name or other information, indicating that the broker does not have a real place of business. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

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