Purpose

The UAE foreign exchange market is a regional core forex trading market that has gradually developed over the past two decades. Relying on Dubai's location advantages as an international financial hub, it has brought together a large number of forex dealers from around the world. It is the core trading hub in the Middle East with the highest level of forex business activity and a relatively well-established compliance system. To help investors or practitioners gain a more comprehensive understanding of the forex dealers in the region, we went to the UAE for an on-site visit.

Process

This visit, as planned, went to the UAE for an on-site visit to forex broker MonzaeeFX. According to public information, its office address is 102, Al Jawahar Building Bank Street, Bur Dubai.

A professional and experienced inspection team, with a sense of mission to strictly safeguard investors' interests, went to the UAE following meticulous planning to conduct an on-site verification of the broker MonzaeeFX, which claims to be located at 102, Al Jawahar Building Bank Street, Bur Dubai.

We successfully arrived at Al Jawahar Building, a luxurious office building in the bustling area of Dubai. The surrounding business atmosphere is very strong, and the streets are clean and orderly. It is a core business cluster area in Dubai. We photographed and recorded the complete panorama of the building and found no company signs or promotional information related to MonzaeeFX on the exterior of the building.

After entering the lobby on the first floor of the building, explaining the purpose of our visit to the staff, and completing a simple registration, we successfully obtained permission to enter the lobby. There is a complete directory board on the first floor of the office building. The company's name was not seen on the directory, and repeated searches within the building also did not find any signage information corresponding to MonzaeeFX.

When attempting to go to the target floor to confirm the specific location, due to the building's security management requirements, non-registered enterprise personnel in the building could not enter the office floors at will. In the end, we were unable to reach the specific floor location indicated, and did not find MonzaeeFX's office area. There were no obvious company signs or security measures. We could not photograph the front desk or its logo, and the premises were not a shared office.

Since we were unable to enter the corresponding office area, we had no opportunity to observe the company's internal environment during the entire process, nor could we confirm its office scale. The overall situation is completely inconsistent with the business positioning previously claimed by this broker.

Therefore, after the on-site visit, it was confirmed that the broker MonzaeeFX does not exist at the above publicly stated address.

Conclusion

The visiting personnel went to the UAE as planned to conduct an on-site visit to the forex dealer MonzaeeFX, but at its publicly displayed business address, they could not see the company name or other information of the dealer, indicating that the dealer does not have a real business premises. Investors should make their choice after comprehensive consideration.

Disclaimer

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