Purpose

The UAE foreign exchange market is an emerging forex market that has developed in recent years. With its superior geographical location, open financial policies, and developed infrastructure, it has attracted the attention of many international financial institutions and investors. In order to help investors or practitioners gain a more comprehensive understanding of the forex brokers in the region, the field survey team went to the UAE for on-site visits.

Process

This time, the on-site inspection team traveled to the United Arab Emirates as planned to visit forex broker ADBFOREX. According to public information, its office address is Boulevard Plaza 2, Sheikh Mohammed bin Rashid Boulevard - Dubai, Dubai, United Arab Emirates.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, followed a meticulous plan and traveled to the United Arab Emirates. They conducted an on-site inspection of the broker ADBFOREX, which claims to be located at Boulevard Plaza 2 , Sheikh Mohammed bin Rashid Boulevard - Dubai, Dubai, United Arab Emirates.

The inspectors arrived at Boulevard Plaza 2 smoothly. This building is a landmark in the heart of Dubai, located right next to the Burj Khalifa and Dubai Downtown, and connected to a metro station. The surrounding area is prosperous with a strong commercial atmosphere. The building is luxuriously decorated.

The inspectors photographed the building directory, but there was no information about the company ADBFOREX on the directory.

The inspectors entered the building lobby, and after explaining their purpose to the security guard, they were granted access. However, no signage for ADBFOREX was found inside the building.

Since the company’s specific floor and location could not be confirmed, the inspectors were unable to reach the target floor, and therefore could not confirm whether its office area had clear signage or security measures. In addition, because they could not enter the company, they could not photograph the front desk and its LOGO, and it was not a shared office either.

Through the glass door, as they could not enter the company, they were unable to observe the office’s internal environment, decoration style, and employee activities. Overall, it was impossible to confirm whether the company actually exists.

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

Conclusion

The on-site inspection team went to the UAE as planned to visit forex broker ADBFOREX. At its publicly displayed business address, the company name or other information of the broker could not be seen, indicating that the broker does not have a real business premises. Investors should make their decisions after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not serve as the basis for final decision.