Purpose

The UAE forex market is an emerging forex market that has developed rapidly in recent years. With its superior geographical location, open financial policies, and vibrant economic environment, it has attracted many forex brokers to operate here. To help investors or practitioners gain a more comprehensive understanding of the forex brokers in the region, the fact-finding team traveled to the UAE for an on-site visit.

Process

This issue's verification team went to the UAE as planned to visit the forex broker TeraFX on site. According to public information, its office address is Unit GA-00-SZ-L1-RT-201, Level 1, Gate Avenue - South Zone, DIFC, Dubai, UAEPL.

A professional and experienced site inspection team, with a sense of mission to strictly check for investors, went to the United Arab Emirates according to a well-planned schedule. Based on the above information, they conducted an on-site visit to the broker TeraFX.

The site inspectors went to the target area based on the address information and found that the address is a super-large shopping mall in downtown Dubai. After arriving at the mall, the surrounding environment was bustling with a strong commercial atmosphere, but they could not find the corresponding area within the entire mall and could not confirm the company's location.

The site inspectors entered the mall lobby, explained their purpose to the security guard, and obtained permission to enter. However, inside the building, they did not find any signage or relevant information of the company, nor did they see a company directory.

Since they could not find the corresponding floor and area, the site inspectors were unable to reach the specific floor and confirm the company's exact location, and naturally could not enter the company's premises. At the same time, they were also unable to take photos of the front desk and the front desk logo, and the venue is not a shared office.

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

Conclusion

The field inspection personnel went to the UAE as planned to visit forex dealer TeraFX on site. At its publicly displayed business address, the company name and other information of the dealer could not be seen, indicating that the dealer has no real business premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

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