Purpose

The UAE foreign exchange market is a regional core forex market that developed in the 1990s. Leveraging Dubai's geographical advantage as a financial hub in the Middle East, it brings together a large number of global and local forex brokers, featuring a high degree of market openness and a gradually improving regulatory framework. It is one of the most active forex trading regions in the Middle East. In order to help investors or practitioners gain a more comprehensive understanding of the forex brokers in this region, the survey team conducted an on-site visit to the UAE.

Process

This issue's field inspection team visited forex broker OBO Markets in the UAE as planned. According to public information, its office address is Office No. 701, 7th floor, Al Jawharah Building, Bank Street, Bur Dubai, Dubai U.A.E.

The professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors' interests, went to the United Arab Emirates according to a carefully planned itinerary. They conducted an on-site verification of the broker OBO Markets, which claims to be located at Office No. 701, 7th floor, Al Jawharah Building, Bank Street, Bur Dubai, Dubai U.A.E.

The team successfully arrived at the target building, Al Jawharah Building. The site is located in the bustling core area of Dubai, is a well-known luxury office building in the area, and is surrounded by shops and financial institutions, giving it a strong commercial atmosphere.

No company signage or promotional information related to OBO Markets was found outside the building; only the building's own nameplate could be seen.

After entering the first-floor lobby of the building and stating the purpose of the visit to the security guards and staff, the team obtained permission to enter the lobby after simple visitor registration. In a prominent position in the lobby, a complete floor company directory was displayed. The team checked the names of all resident companies on the directory line by line and found no mention of OBO Markets throughout the process, nor any publicly displayed information for a company corresponding to Room 701 on the 7th floor.

Since the 7th-floor office area marked in public information could not be confirmed as corresponding to a company, and there was also no appointment registration information for the company, the team was unable to reach the specific 7th-floor location of the target, let alone enter the company's interior. During this visit, the team did not capture the corresponding company's front desk or the front desk LOGO, and the premises is not a shared office.

Since the team was unable to enter the corresponding floor area and no valid office entrance of the company was found, it could not observe the company's internal environment throughout the process. The overall situation is completely inconsistent with the business positioning that the broker publicly claims.

Therefore, after the on-site inspection, it is confirmed that the broker OBO Markets does not exist at the above address.

Conclusion

The on-site inspectors went to the UAE as planned to visit forex broker OBO Markets in person. At its publicly displayed business address, they did not see the company name or other information of the broker, indicating that the broker does not have a real place of business. Investors should make their decisions after comprehensive consideration.

Disclaimer

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