Purpose

The UAE foreign exchange market is an emerging regional international forex trading market developed over the past two decades. Leveraging Dubai's position as a global financial hub, it has brought together a large number of licensed forex brokers and various types of market participants. With high market openness and strong cross-border trading activity, it is the core hub for forex business in the Middle East. To help investors and practitioners gain a more comprehensive understanding of the forex brokers in this region, we conducted an on-site visit to the UAE.

Process

In this issue, the on-site inspection team traveled to the United Arab Emirates as planned to conduct an on-site visit to the forex broker Legacy Global. According to public information, its office address is 701, Al Khaleej Centre, Al raffa Bur, 122347, Bur Dubai, Dubai, United Arab Emirates.

A professional and experienced field inspection team, with a sense of mission to strictly safeguard investors, traveled to the United Arab Emirates according to meticulous planning. Based on the above information, they conducted an on-site visit to broker Legacy Global.

Following the address information, we went to the Al Khaleej Centre building in the Bur Dubai area of Dubai to conduct an on-site verification of the broker Legacy Global claiming to be located at that address.

We successfully arrived at the target building, which is located in the core business area of a bustling district in Dubai, surrounded by numerous shops and commercial buildings, with a very strong commercial atmosphere. The overall quality of this office building is quite good, and we did not find any signage information related to Legacy Global on the exterior of the building.

We entered the lobby on the first floor of the building, stated our purpose to the security personnel, and after a simple registration, we successfully obtained permission to enter the public areas of the building. The first floor has a complete company directory. We checked all the tenant names listed on the directory one by one. We found no information about Legacy Global throughout, nor any signage content pointing to the broker.

We attempted to go to the indicated target floor to confirm the specific location. Upon arrival, we found that this office area belongs to another completely unrelated company. We did not find Legacy Global's office area throughout, nor did we find any obvious signage of that company. Due to the security requirements of the enterprise on that floor, we were unable to enter the office area. Throughout, we did not see Legacy Global's front desk, nor did we capture any front desk photos with the company's logo. This place is not a shared office.

Since we were unable to enter the corresponding office area, we could not see the company's internal environment at all, nor could we verify its decoration style and employee activity. The condition of this site completely fails to match the office business positioning claimed by Legacy Global.

Therefore, after the field inspection, it is confirmed that broker Legacy Global does not exist at the publicly registered address above.

Conclusion

We went to the UAE as planned to visit forex dealer Legacy Global in person. At its publicly displayed business address, we could not see the dealer's company name or other information, indicating that the dealer does not have a real place of business. Investors should consider this comprehensively before making a choice.

Disclaimer

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