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 many international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the field research team went to the UAE for an on-site visit.

Process

This on-site verification team planned to visit the foreign exchange dealer Fortumax Prudent FX in the UAE as scheduled. According to public information, its office address is OFFICE NO 1806, DAMAC XL TOWER, MARASI DRIVE, BUSINESS BAY, DUBAI.

The professional and experienced site visit team, driven by a sense of mission to strictly safeguard investors' interests, traveled to the United Arab Emirates according to a carefully planned itinerary. They conducted an on-site verification of the broker Fortumax Prudent FX, which claimed to be located at OFFICE NO 1806, DAMAC XL TOWER, MARASI DRIVE, BUSINESS BAY, DUBAI.

The site visit team successfully arrived at DAMAC XL TOWER, which is located in the city center of Dubai. It is a luxurious office building with a bustling surrounding environment and a strong commercial atmosphere. No signage or relevant information about the company was found on the exterior of the building, but the company's information was displayed on the building directory on the first floor.

After entering the building lobby and stating their purpose to the security guard, the site visit team successfully obtained entry permission.

After reaching the target floor, the 18th floor, the site visit team found that Office 1806 on that floor was not Fortumax Prudent FX company, and there were no obvious signs of Fortumax Prudent FX in that office area. Since the office was not the target company, the site visit team could not enter the interior, nor could they photograph the reception desk or the reception desk's LOGO. Additionally, the office was not a shared office.

Through the glass door, because they could not confirm that it was the interior of the target company, they were unable to observe the internal office environment and other conditions of Fortumax Prudent FX.

Therefore, after the site inspection, it was confirmed that the broker Fortumax Prudent FX does not exist at the above address.

Conclusion

The surveyor went to the UAE as planned to conduct an on-site visit of the forex broker Fortumax Prudent FX. At its publicly displayed business address, the actual office of the broker was not seen, indicating that the broker does not have a genuine business premises. Investors are advised to make their decision after thorough consideration.

Disclaimer

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