Purpose

The UAE forex market is an emerging regional core forex market that has developed over the past two decades. Leveraging Dubai's locational advantages as an international financial hub, it has gathered a large number of licensed and overseas-established forex dealers, with the market radiating across the entire Middle East and North Africa region and trading activity climbing year by year. To help investors and practitioners gain a more comprehensive understanding of forex dealers in the region, the field inspection team traveled to the UAE for an on-site visit.

Process

This issue's on-site inspection team went to the UAE as planned to conduct an on-site visit to forex broker Vistova. According to public information, its office address is Office No. MF-072 Golden Eyes Business Center, Al Muteena Area, Deira, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, according to a well-planned schedule, traveled to the UAE. They conducted an on-site verification of the trader Vistova which claims to be located at Office No. MF-072 Golden Eyes Business Center, Al Muteena Area, Deira, Dubai, UAE.

The on-site inspectors successfully arrived at the target building, which is located in the old city area of Dubai, a relatively luxurious office building locally, with complete surrounding commercial facilities, sufficient pedestrian flow, and a strong commercial atmosphere. No company sign or information related to Vistova was found outside the building. This on-site inspection fully captured the panoramic appearance of the building.

The on-site inspectors entered the first-floor lobby of the building and stated their purpose to the security guard or staff. After a simple registration and communication, they successfully obtained permission to enter the lobby.

After checking the complete directory board in the lobby, it was found that the directory board listed a business center named smart Eyes Business center. According to Google search results, it was confirmed that this name corresponds to the golden Eyes Business center indicated in the public information. There was no company directory information related to Vistova on the directory board. No logo sign of Vistova was found in the interior or exterior areas of the building. Due to strict security, it was impossible to go upstairs to the specific floor of the target to confirm the corresponding location, let alone enter the company's interior, nor take photos of the reception desk and its LOGO. The space corresponding to this address is a shared office and does not open its interior area to the public.

Because they could not enter the corresponding floor, the on-site inspectors had no way to observe the trader's internal environment, nor could they confirm its decoration style and employee activities. They were completely unable to verify whether its claimed business positioning was true.

Therefore, after the on-site inspection, it is confirmed that the trader Vistova does not exist at the above address.

Conclusion

The field inspection team went to the UAE as planned to conduct an on-site visit to forex broker Vistova. At its publicly disclosed business address, no information such as the broker's company name and other details could be seen, indicating that the broker does not have a real business premises. Investors are advised to make a choice after comprehensive consideration.

Disclaimer

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