Purpose

The UAE forex market is a regional core forex trading market that has developed over the past two decades. Leveraging the policy advantages of the Dubai International Financial Centre, it has gathered a large number of financial trading institutions from around the world and is one of the core hubs for forex trading in the Middle East. To help investors gain a more comprehensive understanding of the real operating conditions of forex brokers in the region, the on-site inspection team traveled to the UAE for field visits.

Process

In this issue, the field inspection team traveled to the UAE as planned to conduct an on-site visit to the forex broker Velociti. According to public information, its office address is Office No. 69, M Floor, Dubai Cargo Village, 32 Airport Road, Dubai, UAE.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors, proceeded to the UAE according to a well-planned schedule. They conducted an on-site verification of the broker Velociti, which claims to be located at Office No. 69, M Floor, Dubai Cargo Village, 32 Airport Road, Dubai, UAE.

The team smoothly arrived in the vicinity of the target area. The location is in a logistics park near Dubai Airport, and the surrounding area is mainly composed of logistics and warehousing buildings. They could not find the specific building corresponding to the complete address indicated, and the publicly provided address information was incomplete; it did not clearly indicate the specific building number, making it completely impossible to locate the exact position corresponding to the broker. On the exterior of all buildings throughout the entire park, no company signage or related directional information bearing the words Velociti was found.

The team attempted to enter the lobby of an accessible building in the area and explained their purpose to the on-site staff. After a brief communication and registration, they obtained permission to enter the lobby.

On the floor directory sign inside the lobby, no company information marked with the name Velociti was found, and no LOGO of the broker appeared anywhere in the entire lobby area.

Since it was impossible to confirm the specific floor corresponding to the broker, and there was no relevant guidance pointing to the office location of Velociti, the team could not reach the target floor throughout the process to confirm the specific location of the so-called Office No. 69 on M Floor. Naturally, there was no possibility of entering the company's interior; they could not photograph the reception desk or the reception desk LOGO, and the premises were not a shared office either.

Because the corresponding office area could not be located, the team could not enter any office space claimed to belong to Velociti throughout the process, nor could they observe the company's internal office environment. The overall situation was completely inconsistent with the broker's claim of having a business presence at this location.

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

Conclusion

Field inspection personnel went to the UAE as planned to conduct an on-site visit to forex broker Velociti. Within the business address range it publicly displays, they could not see the broker's company name or any other related information, indicating that the broker does not have a real 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 taken as the basis for final selection.