Purpose

The UAE forex market is an emerging forex market that has developed in recent years. With its advantageous geographical location, open financial policies, and well-developed infrastructure, 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 the forex brokers in the region, the inspection team visited the UAE for an on-site investigation.

Process

In this issue, the on-site inspection team traveled to the UAE as planned to visit the forex broker SCHATZ. According to public information, its office address is Aspin Commercial Towers, Floor 32nd, Room No:3203, Sheik Zayed Road, Dubai, UAE.

A professional and experienced site inspection team, with the mission to safeguard investors, traveled to the United Arab Emirates according to a carefully planned schedule to conduct an on-site inspection of the trader SCHATZ, stated to be located at Aspin Commercial Towers, Floor 32nd, Room No:3203, Sheik Zayed Road, Dubai, UAE.

The inspectors arrived at Aspin Commercial Towers without difficulty. The building is situated in a prime location in downtown Dubai, surrounded by high-rise buildings and a strong commercial atmosphere, and is an ultra-luxury office tower. Its exterior is modern and imposing, and security measures are very strict. No company logo or related information for SCHATZ was found outside the building.

The inspectors entered the building lobby and stated their purpose to the security guard. After communicating, although they were granted access to the lobby, due to the strict security of the office building, they could not enter the interior of the building or go to the target floor without an appointment. The inspectors photographed the directory information in the lobby and, after careful inspection, found that the name of SCHATZ did not appear on the directory.

Since they could not reach the target floor, the 32nd floor, they could not confirm the specific situation of Room 3203. Naturally, they could not enter the company's interior, nor could they photograph the front desk or the front desk logo. The office is also not a shared office.

Through the glass doors of the lobby, the company's internal office environment could not be observed. Overall, no actual office traces related to this trader were found, which is inconsistent with its claim of having a physical office presence.

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

Conclusion

The fact-finding team went to the UAE as planned to visit forex broker SCHATZ in person. At its publicly displayed business address, no company name or other information of the broker was found, indicating that the broker does not have a real business premises. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

The above content and opinions are for reference only and do not constitute the basis for final selection.