Purpose

The UAE foreign exchange market is an emerging regional core forex market that has gradually developed over the past two decades. Leveraging Dubai's strategic location as the Middle East's financial hub, it has attracted a large number of forex dealers from around the world, covering cross-border trading demand across the Middle East and North Africa region. To help investors gain a more comprehensive understanding of the actual operating conditions of licensed and self-declared forex dealers in the region, we traveled to the UAE to conduct on-site inspections.

Process

The visiting team went to the UAE as planned to conduct an on-site visit to forex broker Avon Capital Market. According to public information, its office address is RKM Bldg, Near All Qiyadah Metro Station, Abu Hail, Dubai, UAE.

A professional and experienced inspection team, driven by the mission of strictly safeguarding investors, traveled to Dubai, UAE, following a well-planned schedule, to conduct an on-site verification of broker Avon Capital Market, which claims to be located in the RKM Building.

After arriving smoothly at the target area, it was found that the location is relatively far from the center of Dubai, with bustling streets around. The RKM Building is a low-rise building, and we captured a complete panoramic view of it. No signage or any related information pertaining to Avon Capital Market was found on the exterior of the building.

The inspection personnel entered the building lobby and stated their purpose to the staff. After a simple registration and communication, they were granted permission to enter the lobby. However, after checking the directory signs inside the building one by one, they found no floor signage corresponding to Avon Capital Market at all. Throughout the entire building, neither the exterior walls nor the internal public areas displayed the company's LOGO.

Meanwhile, the public address only mentions the building name without specifying a particular floor, making it completely impossible to locate the company's exact position. Naturally, it was impossible to go to the corresponding target floor to confirm the point, let alone enter the company to inspect its situation. There was no possibility of entering the company, nor any opportunity to photograph its front desk or the front desk LOGO. This is not a shared office.

Because the specific office location could not be confirmed, no internal office scenes belonging to Avon Capital Market could be seen at all. Unrelated personnel are also not allowed to go deep into non-public areas in the relevant zones, so no further internal environment information could be obtained.

Therefore, after the inspection, it was confirmed that broker Avon Capital Market does not exist at the above-mentioned publicly stated address.

Conclusion

The visiting team went to the UAE as planned to conduct an on-site visit to the forex broker Avon Capital Market. At its publicly displayed business address, the company name or other identifying information of the broker could not be seen, indicating that the broker 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 do not serve as the basis for final selection.