Purpose

The UAE forex market is a regional core forex trading market that has gradually developed over the past two decades. Leveraging Dubai's locational advantage as a financial hub in the Middle East, it brings together a large number of forex brokers targeting the Middle East and North Africa markets. With a high degree of market openness and a sound regulatory system, it is a core forex trading hub radiating across the entire Middle East and North Africa region. To help investors or practitioners gain a more comprehensive understanding of the actual office conditions of forex dealers in the region, the surveying team went to Dubai, UAE for an on-site visit.

Process

In this issue, the on-site inspection team traveled to the UAE as planned to conduct an on-site visit to forex broker OW Markets. According to public information, its office address is Business Center 1, M Floor, The Meydan Building, Nad AL Sheba, Dubai, U.A.E.

A professional and experienced on-site inspection team, driven by the mission of strictly vetting on behalf of investors, traveled to Dubai, UAE according to a meticulous plan, and conducted an on-site verification of the broker OW Markets, which claimed to be located at Business Center 1, M Floor, The Meydan Building.

After arriving at The Meydan Building smoothly, they found the site is located in a non-central area of Dubai, surrounded by a luxury entertainment complex zone. The overall environment leans toward a leisure and resort style, completely lacking the strong commercial atmosphere of a typical business office district. No information related to any OW Markets branding was found on the exterior of the building. Only a full panoramic view of the building's exterior could be captured. Judging from the architectural decoration style and supporting signage, this is not a conventional commercial office building, but a high-end luxury hotel.

The visiting personnel entered the building lobby. After stating their purpose to the on-site staff and completing a simple registration, they were granted access to the lobby area.

After repeated searches through the floor directory signage and tenant list in the lobby public area, no company identification marked with OW Markets was found at all. There was also no LOGO display belonging to the broker anywhere inside the building.

When they later attempted to go to the target M Floor, they were stopped by the hotel's security personnel. External visitors who are not hotel guests and have not made an appointment in advance cannot enter guest rooms or non-public floors. It was completely impossible to reach the target floor to confirm the corresponding location, let alone enter the so-called OW Markets office area. Throughout the entire process, no front desk belonging to OW Markets was found. Naturally, they could not take photos of the front desk or its LOGO, and the venue is not a shared office either.

Because non-public areas cannot be accessed, the so-called internal company environment is completely invisible. All non-public areas are not open to unrelated external personnel, which is completely inconsistent with the legitimate business office positioning previously claimed by this broker.
Therefore, after on-site verification, it is confirmed that the broker OW Markets does not exist at the publicly stated address mentioned above.

Conclusion

The field inspectors went to the UAE as planned to conduct an on-site visit to forex broker OW Markets. At its publicly displayed business address, they could not see the broker's company name or other information. The address is actually a luxury hotel attached to a luxury entertainment complex, not an office building, making it completely impossible to confirm the broker's office location. This shows that the broker has no real business premises. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and should not be used as the basis for final decisions.