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 favorable business environment, it has attracted many international forex brokers to set up operations, holding a significant position in the forex trading sector of the Middle East. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the inspection team conducted an on-site visit to the UAE.

Process

The on-site survey team for this issue went to the UAE as planned to visit forex broker Ace Markets. According to public information, its office address is Level 41, Emirates Towers, Sheikh Zayed Road, Dubai, UAE.

A professional and experienced inspection team, with a sense of mission to strictly vet for investors, traveled to the United Arab Emirates according to a well-planned itinerary. They conducted an on-site inspection of the broker Ace Markets, which claimed to be located at Level 41, Emirates Towers, Sheikh Zayed Road, Dubai, UAE.

The inspectors arrived at Emirates Towers smoothly. This location is in the heart of Dubai, a landmark building in Dubai, next to the iconic Museum of the Future. The surrounding area is bustling with a strong business atmosphere. The inspectors took a photo of the building directory, but the floor information shown on the directory did not match the floor claimed by Ace Markets.

The inspectors entered the lobby of the building and explained their purpose to the security guard. After communication, although they obtained permission to enter the building, due to strict company security, the inspectors were unable to reach the target floor 41 to confirm the specific location, and thus could not enter the company's interior. At the same time, no company signage, logo, or related information of Ace Markets was found either outside or inside the building, and they were unable to take photos of the front desk or its logo. Additionally, the office space was not a shared office.

From the lobby area, since they could not enter the company's interior, the inspectors were unable to observe the internal environment, decoration style, employee activities, etc.

Therefore, based on the inspection, it was confirmed that the broker Ace Markets does not exist at the above address.

Conclusion

The surveyors visited the UAE as planned to conduct an on-site inspection of the forex broker Ace Markets, but could not see the company's name or any other information at its publicly displayed business address, indicating that the broker does not have a genuine place of business. Investors are advised to make their decisions after careful consideration.

Disclaimer

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