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 advanced financial infrastructure, it has become an important foreign exchange trading center in the Middle East. In order to help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the fact-finding team went to the UAE for an on-site visit.

Process

The site inspection team has planned to visit the forex broker GRAND FT Market in the United Arab Emirates as scheduled. According to public information, its office address is Boulevard Plaza, Tower 1 - Level 8, Sheikh Mohammed bin Rashid Blvd - Downtown Dubai.

The professional and experienced site inspection team, with a mission to strictly protect investors, went to the United Arab Emirates according to a thorough plan to conduct an on-site inspection of the broker GRAND FT Market, which claims to be located at Boulevard Plaza, Tower 1 - Level 8 Sheikh Mohammed bin Rashid Blvd - Downtown Dubai.

The inspectors smoothly arrived at Boulevard Plaza Tower 1, which is located in downtown Dubai. The surrounding area is bustling with a strong commercial atmosphere. It is adjacent to the Burj Khalifa and Dubai Centre, and is also connected to a metro station. The building is lavishly decorated.

The inspectors took a photo of the building's directory, but there was no information about GRAND FT Market on it.

The inspectors entered the building lobby, and after explaining their purpose to the security guard, they were allowed to enter.

Upon reaching the target floor, the 8th floor, the inspectors found no office area signage or security measures related to GRAND FT Market. They were unable to locate the company's specific position, and could not enter the interior. Consequently, they could not photograph the front desk or its LOGO. The office is not a shared office.

Through the floor corridor, the inspectors observed that there were no running offices on that floor, and the overall situation was inconsistent with its claimed positioning.

Therefore, after the inspection, it was confirmed that the broker GRAND FT Market does not exist at the above address.

Conclusion

The field inspection team visited the forex broker GRAND FT Market in the UAE as planned, but did not see the broker's company name or other information at its publicly displayed business address, indicating that the broker does not have a real business premise. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and do not constitute a basis for final selection.