Reason for this visit

The UAE forex market is one of the largest ones in the Middle East. The Securities and Commodities Authority (SCA) is responsible for regulating the forex market. In recent years, the UAE government has relaxed restrictions on foreign ownership ratios to attract more foreign capital. The trading activity in the UAE forex market has increased, and the participation of foreign investors has gradually risen. With the continuous growth and diversification of the UAE economy, its capital markets are poised to embrace significant development opportunities. Overall, the UAE forex market is steadily moving towards a more mature and open direction. In an attempt to provide investors with a more comprehensive understanding of the current status of forex brokers in the UAE, WikiFX survey team determines to go to the country for on-site visit to local companies.

On-site visit

In this issue, the survey team went to Dubai in the UAE to visit forex broker HFM as planned according to its regulatory address that Unit OT 20-53, Level 20, Central Park Offices, DIFC, PO Box 507274, Dubai, UAE.

The investigators came to the Central Park Offices in the DIFC of Dubai, the UAE for an on-site visit to the brokers office. The Central Park Offices was located in the core financial district of Dubai. Due to a fabulous location, the renowned upscale commercial building was easily accessible and close to a large array of facilities. Upon arriving at the building, the survey personnel discovered a reception area and directory in the lobby, which indicated that HFM was located on the 20th floor.

The inspection team then took the elevator to the 20th floor and spotted the office 20-53, where HFM was situated. However, people were not allowed to enter the room, and photographing was prohibited in the reception area. Thus, it was impossible to assess the specific situation and employee count in the office.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the place.

Conclusion

The survey team went to Dubai, the UAE to visit forex broker HFM as scheduled, and found the company at its regulatory address. It denotes that the broker has a physical business office at the aforementioned address. Meanwhile, investors are advised to make a sensible decision following much deliberation.

Disclaimer

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