Reason for this visit

The UAE forex market is one of the largest ones in the Middle East. The Securities and Commodities Authority (SCA) is responsible for regulating the forex market. In recent years, the UAE government has relaxed restrictions on foreign ownership ratios to attract more foreign capital. The trading activity in the UAE forex market has increased, and the participation of foreign investors has gradually risen. With the continuous growth and diversification of the UAE economy, its capital markets are poised to embrace significant development opportunities. Overall, the UAE forex market is steadily moving towards a more mature and open direction. To provide investors with a more comprehensive understanding of the current status of UAE brokers, WikiFX survey team determines to go to the country for on-site visit to local companies.

On-site visit

In this issue, the survey team went to Dubai in the UAE to visit forex broker Baazex as planned according to its regulatory address that Office 1605, International Business Tower, Al Amal Street, Business Bay, Dubai, UAE.

The investigators came to Al Amal Street in Business Bay of Dubai, the UAE for an on-site visit to the broker‘s office, and located the International Business Tower, a commercial building, in the city’s CBD. Additionally, the building enjoys convenient transportation.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which displayed that Baazex was situated in suite 1605 on the 16th floor. And they took the elevator to the 16th floor, where the broker‘s office was located. Moreover, the broker’s name and logo were showcased prominently in its office.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the place.

Conclusion

The survey team went to Dubai to visit forex broker Baazex as scheduled, and found the company at its regulatory address. This indicates that it has a physical business office at the location. Meanwhile, investors are advised to make a judicious decision following much deliberation.

Disclaimer

The content is used for informational purpose only, and shall not be taken as a final order for making a choice.