A Visit to PhillipCapital in Singapore - Office Found

Reason for this visit

As the product of a merger of the former Singapore Stock Exchange and the Singapore International Monetary Exchange (SIMEX), Singapore Exchange (SGX) is the only stock exchange in Singapore, and also the first stock exchange enabling electronic trading in Asia. In terms of market regulation, the Monetary Authority of Singapore (MAS) is the primary regulator responsible for formulating and enforcing stock market policies and rules. In recent years, driven by financial technology, with service fees declining, it has become extremely convenient to invest in stocks in Singapore, attracting a large number of retail investors into the market. Therefore, more and more international brokers start to focus on the country. Overall, Singapore is a globally important financial center, and the local stock market is growing steadily in size and regulation, with sufficient liquidity and enhanced market confidence. In an attempt to help investors to get a more comprehensive understanding of the brokers in Singapore, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Singapore to visit broker PhillipCapital as planned according to its regulatory address that 250 North Bridge Road, #07-01, Raffles City Tower, Singapore 179101.

The investigators arrived at Raffles City Tower at 250 North Bridge Road in Singapore on November 10, 2023. Raffles City Singapore is a prime landmark within the Civic and Cultural District and one of Singapores largest integrated developments comprising the 42-storey Raffles City Tower, 5-storey Raffles City Shopping Centre, Raffles City Convention Centre, 73-storey Swissôtel The Stamford Singapore and the 28-storey twin-tower Fairmont Singapore. The tower boasts a fabulous location easily accessible via the City Hall MRT interchange (on the North-South and East-West Lines) and Esplanade MRT station (on the Circle Line).

After entering the building, the survey personnel found a digital directory in the lobby, which displays that the reception area of PhillipCapital is located on the 6th floor, and #07-01 is occupied by Philip Nova Pte Ltd.

And then the survey personnel accessed the 6th and 7th floor of the building by lift, and spotted the company name and logo and reception area of PhillipCapital and the related companies of the same Group.

Through an on-side investigation, it is confirmed that PhillipCapital does have a physical presence at the location.

Conclusion

The survey team went to Singapore to visit broker PhillipCapital as scheduled, and found the companys name at its regulatory address. This indicates that the broker truly has a physical business office at the place. Meanwhile, investors are advised to make a judicious decision following an overall consideration.

Disclaimer

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