Purpose

The UAE forex market is a regional core forex trading market that has gradually developed over the past two decades. Leveraging Dubai's location advantage as the Middle East's financial hub, it has gathered a large number of forex brokers from around the world and serves cross-border financial trading needs across the entire Middle East and North Africa region, while its market regulatory system has gradually improved and trading activity has continued to rise. In order to help investors or practitioners gain a more comprehensive understanding of the actual operating conditions of forex brokers in the region, the field inspection team traveled to the UAE for an on-site visit.

Process

The on-site inspection team went to the UAE as planned to conduct an on-site visit to forex broker PixelMarkets, according to public information, its office address is Abraj center (5th floor), 501 Al Sabkha road Deira, Dubai.

A professional and experienced on-site inspection team, with a sense of mission to strictly safeguard investors and following careful planning, traveled to the UAE. They conducted an on-site verification of the broker PixelMarkets, which claims to be located on the 5th floor of Abraj center.

Successfully arrived at the target building Abraj center. The location is in the old downtown area of Dubai, surrounded by a mature mixed commercial and residential district. There was no broker-related signage information in the street environment. The entire building is a typical local commercial office building, and the building's decor is quite decent. Outside the building, no company signage or related promotional information for PixelMarkets was found throughout.

The team entered the ground-floor lobby of the building and explained their purpose to the staff. After information registration and communication, they successfully obtained entry permission. The lobby area has a complete floor directory of tenant companies. After checking one by one all tenant company names listed on the directory, no corresponding information for PixelMarkets was found at all, and there was also no broker LOGO displayed inside the building.

When attempting to go to the target 5th floor to confirm the specific location, due to floor access control restrictions, they ultimately could not reach the corresponding floor to confirm the location, nor did they find the company's actual office area. Throughout the process, no obvious signage or security measures were found at PixelMarkets's office area. They were unable to enter the company's interior, and there was no way at all to photograph the front desk or its LOGO. This location is also not a shared office.

Because they were unable to enter the internal area, they could not observe the company's internal environment throughout. The overall situation is completely inconsistent with the broker's publicly claimed business positioning.

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

Conclusion

Field inspectors went to the United Arab Emirates as planned to conduct an on-site visit to forex broker PixelMarkets; at its publicly displayed business address, they were unable to see the broker's company name or other information, indicating that the broker does not have a genuine business premises. Investors are advised to make their choice after comprehensive consideration.

Disclaimer

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