Purpose

The UAE foreign exchange market is an emerging forex market that has developed in recent years. With its advantageous geographical location, open financial policies, and developed economic system, it has attracted the attention of many international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of the forex dealers in this region, the verification team went to the UAE for on-site inspections.

Process

This team of on-site surveyors planned to visit the foreign exchange dealer Swisspro Markets in the UAE. According to public information, its office address is 1006 Burlington Tower Business Bay, Dubai.

A professional and experienced on-site inspection team, with a mission to strictly vet for investors, went to the United Arab Emirates according to a well-planned itinerary. They conducted an on-site verification of the broker Swisspro Markets claimed to be located at 1006 Burlington Tower Business Bay, Dubai.

The on-site inspectors arrived at Burlington Tower, which is located in the heart of Dubai city. It is a super-luxury office building with a bustling surrounding environment and a strong business atmosphere. However, no company logo or related information of Swisspro Markets was found outside the building.

The inspectors entered the lobby on the ground floor of the building. After explaining their purpose to the security guard, they obtained permission to enter. On the ground floor, they did not see complete directory information and did not find any relevant signage for Swisspro Markets.

The inspectors took the elevator to the target floor and found that the claimed office area of Swisspro Markets actually corresponded to another company, not Swisspro Markets. Since the office belonged to another company, the inspectors could not enter the interior and were unable to photograph the reception desk or its logo. Moreover, the office was not a shared office.

Through the glass door, since it was the office area of another company, it was impossible to observe the internal environment related to Swisspro Markets. The overall situation did not match its claimed location.

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

Conclusion

The surveyor went to the UAE as planned to visit the forex dealer Swisspro Markets on-site. The company name or other information of the dealer was not seen at its publicly displayed business address, indicating that the dealer does not have a real business premises. Investors should 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 decisions.