Purpose

The UAE forex market is an emerging regional core forex market that has developed over the past two decades. Leveraging Dubai's geographical advantage as a financial hub in the Middle East, it has gathered a large number of forex brokers and related financial services institutions from around the world. It has a high degree of market openness and frequent cross-border business interactions, and is an important forex trading distribution center radiating across the entire Middle East and North Africa region. To help investors or practitioners gain a more comprehensive understanding of the forex brokers in the region, the field inspection team traveled to Dubai, UAE, to conduct an on-site visit.

Process

In this issue, the on-site inspection team went to the UAE as planned to conduct an on-site visit to forex broker YD Futures. According to public information, its office address is 1110, Fortune Tower, Jumeirah Lakes Towers, Dubai, UAE.

A professional and experienced site visit team, with a sense of mission to strictly safeguard investors, went to Dubai, UAE according to a meticulous plan. They conducted an on-site verification of broker YD Futures, which claimed to be located at Room 1110, Fortune Tower, Jumeirah Lakes Towers, Dubai, UAE.

The team successfully arrived at Fortune Tower, which is located in an ultra-luxury office building cluster in Dubai's core business district, with mature surrounding facilities and a very strong commercial atmosphere.

Outside the building, no company signage or promotional information related to YD Futures was found.

The team entered the building's ground-floor lobby and explained their purpose to the staff. After information registration, they successfully obtained permission to enter the public area of the lobby. The ground floor of the building has a complete floor company directory board. They checked all tenant company names on the directory board one by one, and throughout the process found no relevant information about the company.

The team attempted to go to the target floor, the 11th floor, to confirm the specific location. After arriving at the corresponding floor, they did not find any office area signage for YD Futures, nor any related security or directional information. Ultimately, they failed to find the office premises of YD Futures corresponding to Room 1110. Throughout the process, they were unable to photograph the company's reception desk or the reception desk LOGO, and the premises were not a shared office.

The team inspected the surroundings of the corresponding location of Room 1110 and found that the office area opposite the office was vacant. Throughout the process, they were unable to enter the interior of the target company and could not observe its internal office environment. The overall situation was completely inconsistent with the office positioning previously claimed by the broker.

Therefore, after the site visit, it is confirmed that broker YD Futures does not exist at the above publicly stated address.

Conclusion

The on-site inspection personnel traveled to the United Arab Emirates as planned to conduct an on-site visit to forex broker YD Futures. At its publicly disclosed business address, they could not see information such as the broker's company name, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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