Purpose

The UAE foreign exchange market is a core hub forex market in the Middle East that has developed over the past two decades. Leveraging Dubai's advantageous position as an international financial port, it has attracted a large number of global asset management and forex trading institutions, serving as an important node connecting cross-border transactions across Europe, Asia, and Africa. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team traveled to the UAE for field visits.

Process

The on-site inspection team traveled to the UAE as planned to visit the forex broker BotX Capital. According to public information, its office address is Office No 202, 2nd Floor, Al Moosa Tower-2, Sheikh Zayed Road, Dubai.

A professional and experienced on-site inspection team, driven by a sense of mission to strictly safeguard investors, followed a meticulous plan and traveled to the United Arab Emirates. They conducted a field verification of the broker BotX Capital, which claims to be located at Office No 202, 2nd Floor, Al Moosa Tower-2, Sheikh Zayed Road, Dubai.

The team smoothly arrived at the target building, Al Moosa Tower-2. This location is within the ultra-luxury office building cluster in Dubai's core urban area, situated on the key business section of Sheikh Zayed Road, surrounded by dense high-end commercial facilities and a very strong business atmosphere.

No company signage or promotional information related to BotX Capital was found on the exterior of the building. A complete panoramic image record of the building was made throughout the process.

After entering the first-floor lobby of the building, the team stated their purpose to the property management staff and obtained permission to enter the lobby after visitor registration. The lobby wall featured a complete floor tenant directory. The team checked the tenant listing on the directory one by one and found no company name marked as BotX Capital. There was no display of this broker's LOGO either inside or outside the building.

When subsequently attempting to reach the corresponding office area on the 2nd floor, the team found that Office 202 on that floor is not the business premises of BotX Capital. This area is a shared office space, and the corresponding front desk and its LOGO could not be photographed on site. Due to the visitor access restrictions of the shared office area, the team was unable to enter and inspect the office environment.

Therefore, after the on-site inspection, it was confirmed that the broker BotX Capital does not exist at the above publicly marked address.

Conclusion

The field investigators went to the UAE as planned to conduct an on-site visit to the forex broker BotX 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 premises. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

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