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 developed business environment, it has attracted the attention of many international financial institutions and investors. To help investors or practitioners gain a more comprehensive understanding of forex brokers in the region, the on-site inspection team conducted a field visit to the UAE.

Process

This time, the survey team went to the UAE as planned to visit the forex broker Prodigy in person. According to public information, its office address is Office number 208 White Swan building Near World Trade Center Metro Shaikh Zayed Road, Dubai, UAE.

A professional and experienced site visit team, with a sense of mission to strictly check for investors, went to the UAE according to a thorough plan. They conducted an on-site verification of the broker Prodigy claiming to be located at "Office number 208 White Swan building Near World Trade Center Metro Shaikh Zayed Road, Dubai, UAE".

The site visit personnel arrived at the White Swan building smoothly. The building is located in a luxurious commercial area in downtown Dubai, with a bustling surrounding environment and a strong business atmosphere. It is a decent office building, and on the ground floor directory board, there is complete company directory information.

The site visit personnel entered the ground floor of the building, explained their purpose to the security guard, and after a brief communication, obtained permission to enter.

After arriving at the target floor, the site visit personnel found that the directory board and the office on that floor did not belong to Prodigy, and the office door was closed. Since they could not determine whether the company was the corresponding one, the site visit personnel were unable to enter the interior, and could not photograph the front desk or its logo. This office is not a shared office.

Through the closed glass door, the site visit personnel could not observe the internal environment of the company, and could not determine whether it matched the positioning claimed by the broker.

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

Conclusion

The on-site inspector went to the UAE as planned to conduct a field visit to the forex broker Prodigy. At its publicly disclosed business address, the broker's company name and other information were not visible, indicating that the broker does not have a genuine business premises. Investors should make their decisions after comprehensive consideration.

Disclaimer

The above content and views are for reference only and are not the basis for final selection.