Purpose

The UAE foreign exchange market is an emerging forex market developed in recent years. With its advantageous geographical location, open financial policies, and favorable business environment, it has gradually become an important foreign exchange trading center in the Middle East. To help investors or practitioners gain a more comprehensive understanding of forex dealers in the region, the field inspection team visited the UAE for an on-site investigation.

Process

This time, the survey team planned to visit the forex broker SDstar FX in the UAE. According to public information, its office address is Office No. 1603 - 042, Al Moosa Tower 1, Trade Center First, Dubai, UAE.

Professional and experienced on-site inspection team, with a mission to strictly vet on behalf of investors, traveled to the UAE according to a well-planned itinerary to conduct an on-site inspection of the broker SDstar FX claimed to be located at Office No. 1603 - 042, Al Moosa Tower 1, Trade Center First, Dubai, UAE.

The inspection personnel successfully arrived at the building across the street, which is in Dubai and is a luxurious office building in the city center. The surrounding area has a strong commercial atmosphere and bustling environment.

The inspection personnel photographed the building's directory board, but the directory board did not contain any information about the company SDstar FX.

The inspection personnel entered the building lobby and stated their purpose to the security guard. The security guard did not grant entry, citing the lack of an appointment.

Due to the inability to obtain entry permission, the inspection personnel could not reach the target floor to confirm the specific location, nor could they see whether SDstar FX's office area had any obvious signage or security measures. In addition, they could not enter the company to take photos of the front desk and its LOGO. The office is not a shared office.

Because they could not enter the company, they were unable to observe the internal office environment, and the overall situation did not meet the need to further understand its claimed positioning.

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

Conclusion

The on-site inspection personnel went to the UAE as planned to visit the forex broker SDstar FX. At its publicly displayed business address, they could not see the company name or other information of the broker, indicating that the broker does not have a real business premises. Investors are advised to make their decision after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and do not serve as the basis for final selection.