Brokerage group Webull has acquired a representative license in Colombia.
Regulatory filings show that the Nasdaq-listed firm recently set up and received approval for a representative office in the country.
Ruben Guerrero, who is Head of LATAM at Webull and also the broker’s Brazil CEO, is named as the company’s representative in Colombia in regulatory filings.
The broker is licensed in the South American country as a securities intermediary representative.
In practise that means Webull can market its products and services in Colombia but cannot use a local entity to hold client funds or deal in securities.
The broker’s listed entity on its regulatory filings is in the US, meaning clients that sign up via the Colombian representative office will be onboarded there.
Several large brokers have acquired licenses in Colombia over the last month.
CFD providers Plus500 and CFI, for example, have both received the green light to operate representative offices, as Webull is doing, from the local regulator – the
