A Visit to Webull 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, appealing to a large number of retail investors into the market. As a result, an increasing number of 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, WikiStock 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 Webull as planned according to its regulatory address that 182 Cecil Street, Frasers Tower #31-02, Singapore 069547.

The investigators arrived at 182 Cecil Street in Singapore for a visit to the brokers office on December 10, 2023, and located Frasers Tower, a 38-storey Grade-A building as well as one of prestigious business landmarks in the city. Additionally, with its distinctive charm and coveted location easily accessible via different means of public transports, the tower is home to a host of companies, within 2-minute walking distance from the Tanjong Pagar MRT Station. The surrounding environment full of lush green trees not only brings fresh air to the citizens, but also injects vitality into the modern structure.

Upon arrival at the building for further investigation, the survey personnel managed to know that people weren‘t allowed to enter without an access card due to the stringent security rules, which contributes to the establishment of a secure environment for the companies in the building. There was a lobby directory, which displayed that “Webull” was situated in suite 31-02. Basically, only staff and clients are available to have access to the office. Therefore, the inspection team failed to visit the broker’s office and take photos internally, and the specific office size of the company is unconfirmed.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Singapore to visit broker Webull as scheduled, and found the companys name at its regulatory address. This denotes that the broker 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.