Purpose

The UAE foreign exchange market is an emerging international offshore forex trading market that has developed over the past two decades. Leveraging the policy dividends of the Dubai International Financial Centre (DIFC), it has attracted a large number of financial trading institutions from around the world, making it the most dynamic forex trading hub in the Middle East. In order to help investors and practitioners gain a more comprehensive understanding of forex dealers in the region, the on-site inspection team visited the UAE for field verification.

Process

In this issue, the on-site inspection team traveled to the UAE as planned to visit forex broker HYCM.COINMARTFX. According to public information, its office address is Tenancy 903, Level 9, Liberty House, DIFC, PO Box 506540, Dubai, UAE.

The professional and experienced on-site inspection team, with a sense of mission to strictly screen on behalf of investors, proceeded to the United Arab Emirates in accordance with careful planning. They conducted an on-site verification of the broker HYCM.COINMARTFX, which claims to be located at Tenancy 903, Level 9, Liberty House, DIFC, PO Box 506540, Dubai, UAE.

The team arrived smoothly at the Liberty House building. The building is situated in the core area of an ultra-luxury office building cluster in downtown Dubai. The surrounding area belongs to the central financial district of Dubai, with a very strong commercial atmosphere.

No related signage or promotional information for HYCM.COINMARTFX was found outside the building, and there was no publicly available information about the company's associated premises in the complex or on the streets.

The team entered the lobby on the first floor of the building and stated their purpose to the security guards or staff. After information registration and communication, they obtained permission to enter the lobby.

While checking the floor directory signs in the lobby, they found that the entire office building had no complete company directory board. No related signage information corresponding to HYCM.COINMARTFX could be found, and the company's LOGO did not appear either inside or outside the building.

Due to strict security and the lack of a prior appointment, the team could not obtain permission to go upstairs, could not reach the specific location on Level 9 for verification, could not enter the company's premises, and could not even photograph the front desk or its LOGO. In addition, the site is not a shared office.

In the lobby, the team asked the front desk staff about the company, but the front desk did not provide any more useful information. Throughout the process, there was no opportunity to observe the company's internal environment, so the actual operating status of the company could not be confirmed.

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

Conclusion

Site inspectors visited the UAE as planned to conduct an on-site inspection of forex broker HYCM.COINMARTFX. At its publicly displayed business address, the broker's company name and other details were not visible, indicating that the broker does not have a genuine business location. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

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