Purpose

The UAE foreign exchange market is an emerging international forex trading market developed over the past two decades. Leveraging Dubai's geographical advantage as a financial hub in the Middle East, it has attracted a large number of forex brokers catering to global investors, making it the core market in the Middle East with the highest forex trading activity and the most frequent cross-border capital flows. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, we conducted an on-the-ground visit to the UAE.

Process

This visit team traveled to the United Arab Emirates as planned to conduct an on-site visit of the forex broker ENRISE CAPITAL. According to public information, its office address is office 9f-a-36, Empire Heights, Business Bay, Dubai, United Arab Emirates.

A professional and experienced inspection team, with a sense of mission to strictly safeguard investors, traveled to the United Arab Emirates according to a carefully planned schedule. They conducted an on-site inspection of the broker ENRISE CAPITAL, which claims to be located at office 9f-a-36, Empire Heights, Business Bay, Dubai, United Arab Emirates.

The inspectors arrived smoothly at the Empire Heights building. The location is in a cluster of luxury office buildings in the heart of Dubai, surrounded by the core business district of Dubai with a very strong commercial atmosphere. The entire building was clearly visible in full view.

No company signs or promotional material related to ENRISE CAPITAL were found outside the building.

The inspectors entered the first-floor lobby of the building and explained their purpose to the on-site staff. After a simple registration and communication, they obtained permission and successfully entered the company lobby. A corporate directory board was set up in the first-floor lobby. They checked all the tenant companies listed on the board one by one and found no entry related to ENRISE CAPITAL throughout the entire process.

Due to the building management rules on site, the inspectors were unable to reach the target floor on the 9th floor, could not confirm the specific location of the marked 9f-a-36, and were unable to enter the interior of the so-called ENRISE CAPITAL company. Throughout the process, no office area signage or security measures belonging to ENRISE CAPITAL were found, and they were completely unable to photograph the company's reception desk and its logo. The site is also not a shared office.

Throughout the process, no corresponding office area for the company was found, and the internal environment of the company could not be observed. The overall situation is completely inconsistent with the broker's claim of establishing an office at this address.

Therefore, after the on-site inspection, it was confirmed that the broker ENRISE CAPITAL does not exist at the publicly listed address mentioned above.

Conclusion

The visiting personnel went to the UAE as planned to conduct an on-site visit to the forex broker ENRISE CAPITAL. At its publicly displayed business address, they could not see the company name or other information of the broker, indicating that the broker does not have a real business location. Investors are advised to make their choices after comprehensive consideration.

Disclaimer

The above content and views are for reference only and do not serve as the basis for final decision.