Reason for this visit

In terms of daily trading volume, the foreign exchange market qualifies as the largest market in the world. Due to its relatively developed financial system and friendly business environment, the UAE continues to attract foreign investors to enter the market. In order to help investors and practitioners have a more comprehensive understanding of the country’s foreign exchange dealers, the survey team is going to the UAE for site visits.

On-site visit

This time the survey personnel went to Dubai, UAE, to visit the foreign exchange dealer Mex Group. The survey address is Unit 8, Level 3, Gate Village Building 10, DIFC, PO Box 324055, Dubai, UAE.

The investigators came to the commercial streets of Dubai, where there are many shops and downtown areas. They found the Gate Village, the destination of this survey, which was in the middle of the building group along the alleys on the ground floor full of shops.

After entering the building, the investigators did not find the logo of the foreign exchange dealer Mex Group within the building, nor did they find the company’s office on the third floor according to the company’s announcement. Then, the investigators asked the staff of the building for more information, who confirmed that the foreign exchange dealer Mex Group does not have an office in the building.

Conclusion

The investigators went to Dubai, UAE to visit the foreign exchange dealer Mex Group as planned. They did not find the dealer's office at its foreign exchange regulatory address. This is a situation of untrue regulation. Investors are advised to choose this dealer carefully.

Disclaimer

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