Purpose

The UAE forex market is an emerging forex market that has developed in recent years. With its superior geographical location, open financial policies, and advanced infrastructure, it has attracted the attention of many international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of forex dealers in the region, the field inspection team traveled to the UAE for an on-site visit.

Process

This edition of the on-site inspection team went to the UAE as planned to visit forex broker SPACE. According to public information, its office address is 1603, Opal Tower, Burj Khalifa Blvd, Business Bay, Dubai, UAE.

The professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, proceeded to the United Arab Emirates according to a thorough plan. They conducted an on-site verification of the broker SPACE, which claimed to be located at 1603, Opal Tower, Burj Khalifa Blvd, Business Bay, Dubai, UAE.

The on-site inspectors successfully arrived at Opal Tower, a luxury office building located in a luxury area in downtown Dubai. The surrounding environment is prosperous, with a strong commercial atmosphere. No sign or related information of the company was found outside the building.

The on-site inspectors entered the building lobby and stated their purpose to the security guard. After communication, they obtained permission to enter the building.

However, on the directory board inside the building, the corresponding office 1603 was shown to be another company, and no related information about SPACE was found. Moreover, the building had strict security, and the on-site inspectors could not reach the target floor, the 16th floor, to confirm the specific location, nor could they enter the company's interior. Since they could not enter the company, they naturally could not photograph the front desk or the front desk LOGO, and the office was not a shared office either.

Through the glass door, due to security obstruction, they could not observe the company's internal environment, so they could not determine whether it matched its claimed positioning.

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

Conclusion

The survey team visited the foreign exchange dealer SPACE in the UAE as planned, but did not see the dealer's company name or other information at its publicly displayed business address, indicating that the dealer 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 should not be used as the basis for the final choice.