Purpose

The UAE foreign exchange market is a regional core forex trading market developed over the past two decades. Relying on Dubai's position as the financial hub of the Middle East, it brings together a large number of forex brokers from around the world. With a high degree of market openness and strong cross-border trading activity, it serves as an important node connecting foreign exchange flows across Europe, Asia, and Africa. In order to help investors gain a more comprehensive understanding of the actual operating conditions of forex dealers in this region, the on-site inspection team traveled to the UAE to conduct field visits.

Process

This issue's survey team went to the UAE as planned to visit forex broker Global Multibank on site. According to public information, its office address is Reef Tower — Office 402 Cluster O Jumeirah Lake Towers — Dubai.

The professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors, traveled to the United Arab Emirates according to a meticulous plan to conduct an on-the-ground verification of the broker Global Multibank that claims to be located in Office 402 at Reef Tower.

The team arrived smoothly at the target location, Reef Tower. The tower is a luxury office building located in the core commercial area of Dubai, right next to a very large shopping mall, with a bustling and vibrant surrounding environment and a strong commercial atmosphere.

No company signage or related information bearing the name Global Multibank was found outside the building.

After entering the first-floor lobby and stating the purpose of the visit to the security guard, the team was granted access to the lobby area after simple identity registration. The first floor of the building has no complete corporate directory, and no signage information corresponding to Global Multibank could be found at all, making it completely impossible to confirm whether the company truly exists in this building.

Due to the building's strict security management, without a prior appointment, the team could not obtain access to the upper office areas, could not reach the target floor to confirm the corresponding location, and naturally had no way to enter the company's interior. Throughout the entire process, neither the reception area nor its LOGO could be photographed, and this address is not a shared office type either.

Throughout the entire process, there was no opportunity to observe the so-called internal environment of Global Multibank through any channel, making it completely impossible to substantiate its claimed office location.

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

Conclusion

The on-site inspectors visited the forex broker Global Multibank in the UAE as planned. At its publicly displayed business address, they did not see the broker's company name or other information, indicating that the broker does not have a real business premises. Investors should make their decision after comprehensive consideration.

Disclaimer

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