Purpose

The UAE foreign exchange market is an emerging forex market that has developed in recent years. With its advantageous geographical location, open financial policies, and advanced financial infrastructure, it has attracted the attention of numerous international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of the forex brokers in this region, the on-site inspection team visited the UAE for a field investigation.

Process

This time, the survey team planned to visit the forex broker IBN in the UAE. According to public information, its office address is 208, 51 tower, business bay, Dubai. UAE.

The professional and experienced site visit team, with a mission to strictly vet for investors, went to the UAE according to a thorough plan. They conducted an on-site verification of the broker IBN claiming to be located at 208, 51 tower, business bay, Dubai. UAE.

The site visit personnel arrived at 51 tower, which is located in a bustling area of downtown Dubai. It is a luxury office building with a prosperous surrounding environment and a strong commercial atmosphere. However, no signage or relevant information of the IBN company was found outside the building.

The site visit personnel entered the first floor of the building and obtained permission to enter after explaining their purpose to the security guard.

After arriving at the target floor 208, the site visit personnel found that the office corresponding to that floor was another company, and there was no signage for the IBN office area. Since it was not the IBN company's office area, the site visit personnel could not enter the interior, nor could they take photos of the front desk and its logo, and the office was not a shared office.

Through the glass door, the site visit personnel could not observe the internal office environment of the IBN company. The overall situation did not match its claimed location.

Therefore, after the site visit, it was confirmed that the broker IBN does not exist at the above address.

Conclusion

The verification team visited the United Arab Emirates as planned to inspect the forex broker IBN on site. At its publicly displayed business address, the company name of the broker was not found, indicating that the broker does not have a genuine business premises. Investors are advised to make their decisions after comprehensive consideration.

Disclaimer

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