Purpose

The UAE forex market is an emerging regional forex trading market that has gradually developed over the past two decades. Leveraging Dubai's geographical advantage as a Middle Eastern financial hub, it has attracted a large number of forex brokers serving the Gulf region and markets in Europe, Asia, and Africa. Cross-border business in the market is highly active, and its regulatory rules have distinct regional characteristics. To help investors gain a more comprehensive understanding of the actual operations of forex brokers in the region, an on-site inspection team traveled to Dubai, UAE, for a field visit.

Process

In this issue, the on-site inspection team traveled to the UAE as planned to conduct an on-site visit to forex broker EGM Futures. According to public information, its office address is 33B-1, Gold Tower, Cluster I, Jumeirah Lakes Towers, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors, according to a well-planned schedule, traveled to Dubai, UAE. They conducted an on-site verification of the trader EGM Futures claiming to be located at Room 33B-1, Gold Tower.

The team successfully arrived at Gold Tower, which is located in Dubai's core commercial district and is a locally positioned ultra-luxury Grade A office building. The surrounding commercial atmosphere is very strong, the area is well-equipped, and there is a dense flow of business people. Throughout the exterior of the building, no company signs or public information related to EGM Futures were found.

The team entered the first-floor lobby of the building, explained their purpose to the security personnel, and after information registration and communication, successfully obtained permission to enter the lobby area. The office building has extremely strict security. There is no complete directory covering all floor companies on the first floor, so it was impossible to directly find the occupancy information of EGM Futures.

Because the team had not made an appointment with the company in advance, the security personnel clearly refused the team's request to go upstairs. The team could not go to the target location on the 33rd floor, and there was absolutely no possibility of entering the company's interior. This place is not a shared office, so it was impossible to photograph any reception desk or its logo throughout the process.

Since they could not go upstairs, the team could not observe the company's internal environment through any office doors or windows, nor could they judge whether its internal configuration matches the operational positioning claimed by the trader.

Therefore, after the on-site inspection, it is confirmed that the trader EGM Futures does not exist at the publicly stated address.

Conclusion

The on-site inspection personnel went to the UAE as planned to conduct an on-site visit to the forex broker EGM Futures. At the business address it publicly displays, they were unable to see the broker's company name or other information, indicating that the broker does not have actual business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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