Purpose

The UAE forex market is an emerging core regional forex market that has developed over the past two decades or so. Leveraging Dubai's geographical advantage as the Middle East's financial hub, it has gathered a large number of forex brokers from around the world, with high market activity that radiates across and covers the entire Middle East and North Africa region. In order to help investors more comprehensively understand the real operating conditions of forex brokers in the region, the on-site visit team went to Dubai, UAE to carry out this field investigation.

Process

In this issue, the on-site inspection team went to the UAE as planned to conduct an on-site visit to the forex broker FXPRIME. According to public information, its office address is Suite 604, City Avenue Building, Opposite Deira City Center, Port Saeed Road, Dubai, UAE P.O.

A professional and experienced visit team, with a sense of mission to strictly safeguard investors' interests, and according to a well-thought-out plan, went to Dubai, UAE. They conducted an on-site verification of the broker FXPRIME that claims to be located at Suite 604, City Avenue Building, Opposite Deira City Center, Port Saeed Road, Dubai, UAE P.O.

The visit team arrived smoothly at City Avenue Building, which is located in a relatively prosperous area near Dubai Airport and is a luxury office building with a very strong surrounding commercial atmosphere. No relevant signage or information for FXPRIME was found outside the building, and the team took complete panoramic photos of the building.

The visit team entered the ground-floor lobby of the building, explained their purpose to the staff, and after a brief communication and registration, successfully obtained permission to enter the lobby.

The visit team carefully searched the company directory area on the ground floor of the building. The directory listed all the names of the companies stationed there, but no relevant signage for FXPRIME was found, and the company's LOGO did not appear inside or outside the building. After showing the relevant information of FXPRIME to the lobby staff for inquiry, the staff said that although there were also companies in their building conducting forex trading-related business, they had never heard of the company name FXPRIME, and the address was most likely a fake registered address. The visit team ultimately could not obtain permission to go to the target floor on the 6th floor, could not confirm the specific location of Suite 604, and could not enter the company's interior. There was no shared office situation, and it was completely impossible to photograph the company's reception desk or the reception desk LOGO.

The visit team could not access the company's internal areas, and naturally could not observe the company's internal environment. The overall situation is completely inconsistent with the broker's claim that it has an office here.

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

Conclusion

The field inspection team went to the UAE as planned to conduct an on-site visit to forex broker FXPRIME, but at its publicly displayed business address, 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.