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 attracted the attention of many international financial institutions and investors. In order to help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the field survey team visited the UAE for an on-site inspection.

Process

This time, the actual investigation team planned to visit the forex broker WEFIN in the UAE. 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 site inspection team, with a mission to be a strict gatekeeper for investors, went to the UAE according to meticulous planning. They conducted an on-site inspection of the broker WEFIN, which claimed to be located at Office No 202, 2nd Floor, Al Moosa Tower - 2, Sheikh Zayed Road, Dubai.

The site inspectors successfully arrived at the building across the street. The building is located in downtown Dubai and is a luxury office building. The surrounding area is bustling with a strong commercial atmosphere. The site inspectors took photos of the building directory, but there was no information about the company WEFIN on it.

The site inspectors entered the lobby of the building and explained their purpose to the security guard. The security guard told them that they could not enter the building because they had not made an appointment.

As they were unable to reach the target floor, the site inspectors could not confirm the specific location of the company WEFIN, nor could they see any obvious signage or security measures in the company's office area. In addition, they were unable to photograph the front desk and its LOGO, and the office is not a shared office.

Through the lobby, the site inspectors could not observe the internal environment of the company, and thus could not determine whether the overall situation matched its claimed positioning.

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

Conclusion

The field surveyor went to the UAE as planned to conduct an on-site inspection of the forex broker WEFIN. At the publicly displayed business address, the broker's company name or other information could not be seen, 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.