Purpose

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

Process

This episode's on-site inspection team plans to visit the forex broker Square Markets in the UAE as scheduled. According to public information, its office address is A06, 9th Floor, Conrad Hotel Business Tower, Sheikh Zayed Road, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly check for investors, went to the UAE according to a well-planned itinerary. They conducted an on-site verification of the broker Square Markets, which claims to be located at A06, 9th Floor, Conrad Hotel Business Tower, Sheikh Zayed Road, Dubai, UAE.

The on-site inspectors successfully arrived at Conrad Hotel Business Tower, which is located in the core area of downtown Dubai, a super luxury office building with a bustling surrounding environment and a strong business atmosphere. No company logo or related information of Square Markets was found outside the building.

The inspectors entered the first floor of the building, where the directories of all companies could be clearly seen, but there was no information of Square Markets on the directory. After explaining their purpose to the security guard, they obtained permission to enter.

After arriving at the target floor, the 9th floor, the inspectors found that the corresponding location was a business centre similar to a shared office, with no obvious signage or security measures for Square Markets. Since they had no appointment and could not confirm whether the company actually existed, the inspectors were unable to enter the interior and could not take photos of the front desk or its logo.

Through the glass door, due to being unable to enter, the inspectors could not observe the company's internal environment, decoration style, employee activities, etc., and could not judge whether it matched its claimed positioning.

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

Conclusion

The on-site inspectors went to the UAE as planned to conduct an in-person inspection of forex broker Square Markets. However, at the broker's publicly displayed business address, they did not see the company name or any related information, indicating that the broker does not have an actual place of business. Investors should make their decisions after comprehensive consideration.

Disclaimer

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