Purpose

The UAE foreign exchange market is an emerging forex market developed in recent years. Thanks to its advantageous geographical location, open financial policies, and vibrant economic environment, it has attracted the participation of numerous international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team visited the UAE for field research.

Process

The on-site inspection team went to the UAE as planned to visit forex broker AB TRADES in person. According to public information, its office address is Nassima Tower, Trade Center 1, Sheikh Zayed Road, Office 901.

The professional and experienced site inspection team, driven by a mission to strictly vet opportunities for investors, followed a well-planned itinerary to the United Arab Emirates. They conducted an on-site verification of the broker AB TRADES claimed to be located at Nassima Tower, Trade Center 1, Sheikh Zayed Road, Office 901.

The site inspectors arrived at Nassima Tower without difficulty. This location, situated in the heart of Dubai, is a luxurious office building surrounded by a bustling environment with a strong commercial atmosphere. However, no company signage or related information for AB TRADES was found on the exterior of the building.

The site inspectors entered the building lobby and, after stating their purpose to the security guard, were granted entry. However, after entering the building, no company nameplate was found.

Upon reaching the elevator area, since gaining access to the upper floors requires a corresponding company card, the site inspectors could not reach the target floor. Consequently, they could not confirm whether AB TRADES's office area had any conspicuous signage or security measures, nor could they gain entry to the interior. Additionally, they could not photograph the reception desk or its logo, and the office is not a shared office.

Since they could not enter the company’s interior, they were also unable to observe its internal environment, decoration style, or employee activities through the glass doors. Overall, it was impossible to confirm whether the environment matches the positioning the company claims.

Therefore, after the site inspection, it was confirmed that the broker AB TRADES does not exist at the aforementioned address.

Conclusion

As planned, the surveyor went to the UAE to conduct an on-site inspection of the forex broker AB TRADES. At its publicly displayed business address, the broker's company name or any other identification was not found, indicating that the broker does not have a genuine business premises. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

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