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 active economic environment, it has attracted the attention of numerous international financial institutions and investors. In order to help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the site inspection team traveled to the UAE for on-the-ground visits.

Process

This on-site inspection team visited the forex broker Odiva Trade in the UAE as planned, and according to public information, its office address is Office No 202, 2nd Floor, Al Moosa Tower - 2, Sheikh Zayed Road, Dubai.

A professional and experienced on-site inspection team, with a sense of mission to strictly vet on behalf of investors, traveled to the United Arab Emirates according to a well-planned schedule. They conducted an on-site verification of the broker Odiva Trade, which claimed to be located at Office No 202, 2nd Floor, Al Moosa Tower - 2, Sheikh Zayed Road, Dubai.

The inspection personnel successfully arrived at the building across the street. The building is located in downtown Dubai and is a luxurious office building. The surrounding area is busy, with a strong commercial atmosphere. No company signage or related information about Odiva Trade was found on the exterior of the building.

The inspection personnel took photos of the building's directory, but there was no information about the company Odiva Trade on the directory.

The inspection personnel entered the building lobby and explained their purpose to the security guard. The security guard said that without an appointment, they could not go upstairs, and the inspection personnel were not granted access.

Since they were unable to reach the target floor, the inspection personnel could not confirm whether Odiva Trade's office area had obvious signage or security measures, nor could they enter the interior, take photos of the front desk and its logo. Moreover, the office is not a shared office.

From the lobby, the inspection personnel could not observe the company's internal environment, making it impossible to judge whether the overall situation matched its claimed positioning.

Therefore, after the on-site inspection, it was confirmed that the broker Odiva Trade does not exist at the above address.

Conclusion

The inspection team went to the UAE as planned to visit forex broker Odiva Trade, and at its publicly displayed business address, they could not see the broker's company name or other information, indicating that the broker does not have a real business premises. Please make your decision after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and shall not be used as the basis for final selection.