Purpose

The UAE foreign exchange market is an emerging forex market that has developed in recent years, and with its advantageous geographical location, open financial policies, and active international trade, it has become an important foreign exchange trading center in the Middle East. To help investors or practitioners gain a more comprehensive understanding of the forex dealers in the region, the on-site survey team visited the UAE for a field inspection.

Process

This time, the on-site verification team plans to visit the forex broker GTC Financial in the UAE as scheduled. According to public information, its office address is Nassima Tower - 17th Floor - Trade Centre - Trade Centre 1 - Dubai.

A professional and experienced on-site inspection team, with a sense of mission to strictly screen for investors, went to the UAE according to a detailed plan. They conducted a field verification of the broker GTC Financial claiming to be located at Nassima Tower - 17th Floor - Trade Centre - Trade Centre 1 - Dubai.

The inspection personnel arrived at Nassima Tower, which is located in the center of Dubai, surrounded by a bustling and commercial atmosphere. It is a luxury office building, but no company logo or related information of GTC Financial was found outside the building.

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

After arriving at the elevator, they found that a corresponding company card was required to go upstairs. Since they did not have that company card, the inspectors could not reach the target floor 17, and thus could not confirm whether the office area of GTC Financial had obvious signage or security measures, nor could they enter the interior. Moreover, they could not take photos of the front desk and its logo, and the office was not a shared office.

Through the lobby, the inspectors could not observe the internal environment of the company. The overall situation was difficult to judge whether it matched its claimed positioning due to the inability to enter.

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

Conclusion

The surveyors went to the UAE as planned to conduct an on-site visit to forex broker GTC Financial. At its publicly displayed business address, they could not see the broker's company name or other information, indicating that the broker does not have a real business premises. Investors should make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and are not the basis for final selection.