Purpose

The UAE foreign exchange market is a regional core forex trading market that has developed over the past three decades. Leveraging Dubai's geographical advantage as a financial hub in the Middle East, it has brought together a large number of global and local forex dealers, serving the cross-border financial trading needs of the entire Gulf region. In order to help investors or practitioners gain a more comprehensive understanding of the actual operations of forex dealers in the region, the survey team went to the UAE for on-site visits.

Process

In this issue, the field survey team went to the UAE as planned to conduct an on-site visit to forex broker BULI PHI. According to public information, its office address is 305 Rashid Bin Zaal Naif Building. Al Musalla Road, Deira, Dubai, UAE.

A professional and experienced on-site inspection team, driven by the mission to strictly safeguard investors' interests, traveled to the UAE according to a well-planned itinerary. Based on the above information, an on-site visit was conducted to the broker BULI PHI.

After arriving at the target area, an on-site verification was conducted on the broker BULI PHI, which was claimed to be located at 305 Rashid Bin Zaal Naif Building. Al Musalla Road, Deira, Dubai, UAE.

The target building was smoothly reached. The site is located inside the market in Deira Old Town. The building has a special overall layout: the first floor consists of shops, while the second and third floors are residential. The building exterior looks relatively old. No company signage or related information associated with BULI PHI was found in the surrounding area. This inspection also captured complete panoramic footage of the building.

When attempting to enter the building lobby, entry permission could not be obtained due to building management regulations, and there was no opportunity to enter the interior of the building throughout the entire process.

The target floor was not reached, and the specific location indicated by the address could not be confirmed.

There was no opportunity to access the broker's office area at any point. It was impossible to photograph the front desk or the front desk LOGO, and the premises do not fall under the category of shared offices.

Because we were unable to enter the building, the so-called BULI PHI company's internal environment is completely invisible, and the overall scene is completely inconsistent with the commercial office positioning claimed by a forex broker.
Therefore, after on-site verification, it is confirmed that the broker BULI PHI does not exist at the above address.

Conclusion

The on-site inspection personnel went to the UAE as planned to visit forex broker BULI PHI in person. At its publicly displayed business address, no company name or other information of the broker could be found, indicating that the broker does not have a real business location. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

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