A Visit to PhillipCapital in Türkiye – No Office Found

Reason for this visit

Despite experiencing some volatility and challenges over the past few years, such as political instability and inflation, the Turkish stock market still holds significant investment potential, especially under conditions of economic and political stability. Türkiye has a large pool of stock brokers, with some companies having international operations. Some stock brokers also offer trading services for other financial products such as forex and cryptocurrencies. The Capital Markets Board of Türkiye (SPK) is the main regulatory institution responsible for overseeing the Turkish stock market and brokers. With continuous improvements in regulatory bodies and technological innovations, the Turkish stock market may become more fair, transparent, and stable. In an attempt to provide investors with a more comprehensive understanding of the current situation of Turkish brokers, WikiStock survey team is determined to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Türkiye to visit broker PhillipCapital as planned according to its registered regulatory address that Esentepe Mah. Harman 1 Sk. Nida Kule Kat 3-12 Levent-Şişli / İstanbul.

The investigators came to Nida Kule Kat 3-12 in Istanbul, the biggest city of Türkiye, for a visit to the broker‘s office on December 7, 2023, located an occupational health company near the noisy street in an ordinary surrounding environment. In the meantime, there wasn’t any company name nor logo of PhillipCapital nearby. The survey personnel didnt spot any high-rise commercial buildings, except for low-rise housing.

Through the on-side investigation, it is confirmed that the broker doesnt have a physical presence at the location.

Conclusion

The survey team went to Türkiye to visit broker PhillipCapital as scheduled, but didn‘t find the company’s name at its regulatory address. This signifies that the broker may just register at the place without a physical business office. Therefore, investors should be meticulous in choosing the broker.

Disclaimer

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