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 business 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 dealers in this region, the survey team conducted an on-site visit to the UAE.

Process

This time, the survey team went to the UAE as planned to conduct an on-site visit to the forex broker DirectCoinfx. According to public information, its office address is 403, Building 6, Bay Square, Business Bay, Dubai, UAE. P.O. Box - 242644.

A professional and experienced on-site inspection team, with a sense of mission to strictly protect the interests of investors, traveled to the UAE according to a meticulous plan. They conducted an on-site verification of the broker DirectCoinfx, which claims to be located at 403, Building 6, Bay Square, Business Bay, Dubai, UAE. P.O. Box - 242644.

The inspectors successfully arrived at the target building, which is located in the core commercial area of downtown Dubai, with a bustling surrounding environment and a strong business atmosphere. This is a luxury office building, but no company signage or related information for DirectCoinfx was found on the exterior of the building.

The inspectors entered the building lobby and stated their purpose to the security guard. After a brief conversation, they obtained permission to enter.

After arriving at the target floor, the inspectors found that there was no complete directory information. Upon reaching the corresponding office, they also found no obvious signage or security measures for DirectCoinfx's office area. Since the corresponding company was not found, the inspectors could not enter the interior, nor could they take photos of the front desk or its logo, and the office was not a shared office.

Through the glass door, the inspectors could not observe the internal environment of the company, and the overall situation did not match its claimed positioning.

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

Conclusion

The verification team went to the UAE as planned to inspect the forex dealer DirectCoinfx. At the publicly displayed business address, they could not see the company name or other information of the dealer, indicating that the dealer does not have a real business premises. Investors should make their choice after comprehensive consideration.

Disclaimer

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