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 economic system, it has become an important forex trading center in the Middle East. To help investors or practitioners better understand the forex brokers in the region, the surveying team visited the UAE for an on-site inspection.

Process

This time, the survey team went to the UAE as planned to visit the forex broker AndroMarkets in person, and according to public information, its office address is The Prism Tower - Business Bay - Dubai.

A professional and experienced site inspection team, with a sense of mission to strictly vet for investors, traveled to the UAE according to a well-planned itinerary. They conducted an on-site verification of the broker AndroMarkets, which claimed to be located at The Prism Tower - Business Bay - Dubai.

The site inspectors successfully arrived at The Prism Tower, which is situated next to a luxury office building in downtown Dubai, right beside the Burj Khalifa. The surrounding area is bustling with a strong commercial atmosphere. However, no company logo or relevant information of AndroMarkets was found on the exterior of the building.

The site inspectors entered the first floor of the building and stated their purpose to the security guard. After communication, they were granted permission to enter the lobby, but they did not see any information about AndroMarkets on the building directory on the first floor.

Since no appointment was made, the site inspectors were unable to reach the target floor, thus could not confirm whether there were clear signs or security measures in the office area of AndroMarkets, let alone enter the interior. Additionally, they could not take photos of the reception desk or its logo, and the office was not a shared office.

Because they could not enter the company's interior, they had no way to observe the internal office environment. Through the lobby, they were also unable to obtain any effective information about the company's interior.

Therefore, after the site inspection, it was confirmed that the broker AndroMarkets does not exist at the aforementioned address.

Conclusion

The surveyor went to the UAE as planned to visit the forex broker AndroMarkets in person. 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 premise. Investors should make their choice after comprehensive consideration.

Disclaimer

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