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 developed economic system, it has become an important financial trading center in the Middle East. In order to help investors or practitioners gain a more comprehensive understanding of forex brokers in this region, the survey team conducted an on-site visit to the UAE.

Process

This time, the actual survey team went to the UAE as planned to visit forex broker Istithmar. According to public information, its office address is Office 2101, The Metropolis Tower, Business Bay, Dubai, United Arab Emirates.

The professional and experienced on-site inspection team, driven by the mission of strictly safeguarding investors, traveled to the United Arab Emirates according to a well-planned arrangement. They conducted an on-site verification of the broker Istithmar, which claims to be located at Office 2101, The Metropolis Tower, Business Bay, Dubai, United Arab Emirates.

The inspection personnel arrived at The Metropolis Tower without issue. The building, located in the heart of Dubai, is a luxurious office tower with a strong commercial atmosphere and a bustling environment. However, no company logo or related information of Istithmar was found on the exterior of the building.

The inspection personnel entered the building lobby and stated their purpose to the security guard. After communication, they were granted access to the lobby, but due to the very strict security of the office building, they were not allowed to go upstairs to take photographs.

The inspection personnel were unable to reach the target floor, the 21st floor, and thus could not confirm whether Istithmar's office area had obvious signage or security measures. Since they were not permitted to go upstairs, the inspectors could not enter the interior or photograph the front desk and its logo. The office is not a shared office.

From the lobby, the inspection personnel could not observe the company's internal environment, and the building did not have a complete company directory, making it impossible to confirm whether the company actually exists. The overall situation does not correspond to the positioning it may have claimed.

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

Conclusion

The inspection team went to the UAE as planned to conduct an on-site visit to forex broker Istithmar. At its publicly displayed business address, the broker's company name and other information were not visible, indicating that the broker does not have a real business premises. Investors should 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 selection.