Purpose

The UAE foreign exchange market is an emerging forex market that has developed rapidly in recent years. With its advantageous geographical location, open financial policies, and developed business environment, it has attracted the attention of numerous international financial institutions and investors. In order to help investors or practitioners gain a more comprehensive understanding of forex dealers in the region, the on-site inspection team traveled to the UAE to conduct field visits.

Process

This issue, the site inspection team went to the UAE as planned to visit the forex broker Marvel. According to public information, its office address is Building 12, Office no 801, Bay Square, Business Bay, Dubai.

The professional and experienced on-site inspection team, with a sense of mission to strictly vet for investors, went to the United Arab Emirates according to a meticulous plan. They conducted an on-site verification of the broker Marvel, which claims to be located at Building 12, Office no 801, Bay Square, Business Bay, Dubai.

The inspectors successfully arrived at the target building, which is located in a commercial complex in downtown Dubai with many buildings and a strong commercial atmosphere. However, no signage or relevant information about the company was found outside the building.

The inspectors entered the building lobby and, after stating their purpose to the security guard, were granted access. However, after entering the building, no company nameplate was found.

Since there were no relevant signage or directions for the company in the building, the inspectors could not reach the specific floor or confirm the exact location, and thus could not enter the company's premises. Meanwhile, they were unable to photograph the reception desk and its logo, and the office was not a shared office.

Through the public areas of the building, since it was impossible to enter the company's interior, the internal office environment could not be observed. Overall, after arriving at the corresponding building, no relevant information about the company was found, and the corresponding office was not this company, which does not match its claimed location.

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

Conclusion

The surveyor went to the UAE as planned to visit the forex broker Marvel in person. At its publicly displayed business address, the company name or other information of the broker was not seen, 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.