Reason for this visit

The foreign exchange market can be called the largest in the world in terms of daily trading volume. The UAE, with its relatively developed financial system and friendly business environment, is constantly attracting foreign investors. In order to help investors or practitioners get a more comprehensive understanding of foreign exchange dealers in UAE, the survey team is going to the country for field visits.

On-site visit

According to the regulatory information, the forex dealer saxo is located at Unit 11, Level 1, Gate Village Building 3, DIFC, PO Box 506830, Dubai, UAE. Thus, the survey team decided to conduct a site visit for this location.

The survey team came to the Dubai International Financial Centre, which is a professional office block with high buildings and convenient transportation. The surveyors could see the building of this survey from a distance, which could be reached by walking along the overpass in the street.

After entering the building, the surveyors did not find the logo of the dealer saxo within the building. Its office was also not found on the exhibition address disclosed by the dealer, i.e. the 1st floor. They then sought confirmation from the building's staff and learned that the forex dealer saxo had moved out of the building in October 2019. In the end, the surveyors confirmed that the dealer did not have an office in the building.

Conclusion

The survey team went to Dubai, UAE, to visit the dealer saxo and found no office at its regulatory address. In other words, the dealer had false regulatory information. Please be prudent when trading with this broker.

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.