SINGAPORE, Dec 2, 2020 - (ACN Newswire) - Xiaomi-backed Tiger
Brokers Singapore today announced a 3-fold momentous growth in
account openings during 3Q 2020 as compared to 2Q 2020. Tiger
Brokers Singapore also saw an increase in trading value by 540 per
cent as compared to 2Q2020. The Technology and Electronic Vehicles
(EV) sectors has seen the most amount of interest with demand for
companies such as APPLE, TESLA, NIO, due to investors' positive
expectations for the companies in the long run.
This growth was driven by an increased interest in investing during
this period, due to a digitally-driven lifestyle cultivated during
the pandemic where more Singapore investors tried online trading. A
recent report (e-Conomy SEA 2020) showed a regional trend towards
the digitalisation in finance, where Investment Assets under
management in the region is expected to grow to US$84 billion in
2025 at a Compound Annual Rate Growth (CAGR) of 32 per cent. The
online trading platform launched in February this year, and 30 per
cent of its users in Singapore aged between 18-24 years old.
Tiger Brokers Singapore also enhanced their platform during this
period, providing access to top exchanges around the world for
their investors. They launched access to the Singapore Exchange
(SGX) and Australian Securities Exchange (ASX) in June and
September this year, and coupled with an attractive low commission
fee, allowing Singapore-based investors the ability to access more
than 7 global exchanges for their investment needs. The fintech
also taps on both traditional and digital communications methods to
ensure that investors can contact them easily via landline and
social media respectively.
Eng Thiam Choon, CEO of Tiger Brokers Singapore, shared, "2020 is a
pivotal year for Tiger Brokers Singapore as we continue to
capitalise on growing market opportunities catapulted by the
increase in digital finance during the past few months. As we
continue to see an increased number of investors who have recently
adopted online trading, our team continues to ensure that both the
online and mobile platforms offer superior functions and solutions
to allow investors to be equipped with the necessary tools for a
smooth trading process. We look forward to helping our clients
expand their investment choices further with our holistic suite of
products and access to additional markets in the near future."
"Our data also showed that our investors were aware of and were
reacting to investment trends caused by COVID-19. Clients were
generally cautious in investments after the worst of the volatility
was over, as evidenced by relative account openings in November as
we have recorded our best month in terms of client onboarding so
far this year."
Tiger Broker Singapore aims to increase their platform users by 50
per cent by Q1 of 2021. To do so, they are constantly improving
their platform's user experience by looking to add more products by
early next year. They will also be participating at this years'
Singapore Fintech Festival as a Silver Sponsor to share more
information around the current investment climate.
Tiger Brokers Singapore taps on the expertise and insights provided
by leading online brokerage firm, UP Fintech Holdings (UP Fintech)
that focuses on global Chinese investors, to help drive fintech
innovation in Singapore and Southeast Asia. UP Fintech's Q3
earnings shared a triple digital growth of 148.2 per cent y-o-y to
US$38 million. The group also had a record high triple digital
growth as trading volume reached US$62.8 billion while client
assets also reached a new high of US$10.9 billion as of November
25, 2020, an increase of 188.1 per cent from a year ago.
The Tiger Trade mobile application is available for download on
Apple App store (https://apps.apple.com/sg/app/id1023600494) and
Google Play store
(https://play.google.com/store/apps/details?id=com.tigerbrokers.stock).
About Tiger Brokers (Singapore) Pte Ltd.
Tiger Brokers Singapore Pte Ltd (Tiger Brokers Singapore) is a
brokerage firm operating with a Capital Markets Services (CMS)
Licence from the Monetary Authority of Singapore (MAS). Its trading
platform, Tiger Trade, offers complimentary real-time stock quotes,
dedicated multilingual customer service during trading hours and
24/7 finance news updates. The company launched the mobile version
of Tiger Trade in February 2020 - accessible on Google Play Store
and the Apple App Store - offering mobile-savvy generation of
retail investors similar trading opportunities as their online
users, such as Equities, Exchange-Traded Funds (ETFs), Futures,
Stock Options, Warrants, and Callable Bull/Bear Contract (CBBC) on
their mobile phones. Both online and mobile app allow users to
invest across multiple asset classes traded on Australian, U.S.,
Hong Kong, Singapore and Australia stock markets such as the New
York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong
Stock Connect, the Hong Kong Stock Exchange (HKEX) and the
Singapore Stock Exchange (SGX), Australian Securities Exchange
(ASX).
Tiger Brokers Singapore is the Singapore entity of UP Fintech
Holding Limited, known as "Tiger Brokers" in Asia, a leading online
brokerage firm focusing on global investors. Founded in 2014, Tiger
Brokers became #1 in the U.S. equity trading by volume among
trading platforms catered to Global Chinese investors in less than
two years. Tiger Brokers was awarded "2017 Fintech 250" by CB
Insights and shortlisted for "China Leading Fintech 50" for two
years in a row by KPMG China. The company was listed on NASDAQ
under "TIGR" in 2019 and has offices in China, United States,
Australia, New Zealand and Singapore. Tiger Brokers has over 1
million customers worldwide currently, with a total trading volume
of more than US$62.8 billion in Q3 2020. The company is backed by
well-known investors such as Xiaomi, as well as investment guru Jim
Rogers. For more information, please visit
https://www.tigerbrokers.com.sg
For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com
This article has not been reviewed by the Monetary Authority of
Singapore.
Any views shared with Prospective Clients ("Prospects") are
suggestive in nature and on a sample basis only. This may also be
predicated on assumptions that are made by Tiger Brokers
(Singapore) Pte Ltd about the Prospects' investment objectives and
risk profile. Our suggestive and sample views extended to Prospects
are not to be considered as recommendations made by the Company.
Suggestions provided are also based on information that may be
shared by the Prospects, the accuracy and comprehensiveness of
which Tiger Brokers in not in a position to verify.
Tiger Brokers (Singapore) Pte Ltd (herein "Tiger Brokers") may, to
the extent permitted by law, participate or invest in other
transactions with the issuer of the products referred to herein,
perform services or solicit business from such issuers, and/or have
a position or effect transactions in the securities or options
thereof. The information herein is for recipient's information only
and not an offer to sell or a solicitation to buy. Any date or
price information is indicative only and may be changed without
prior notice. All opinions expressed and facts referred to herein
are subject to change without notice. The information herein was
obtained and derived from sources that we believe are reliable, but
while reasonable care has been taken to ensure that stated facts
are accurate and opinions are fair and reasonable, Tiger Brokers
does not represent that it is accurate or complete and it should
not be relied upon as such. The information expressed herein is
current and does not constitute an offer, recommendation or
solicitation, nor does it constitute any prediction of likely
future stock performance. Investment involves risk. The price of
investment instruments can and do fluctuate, and any individual
instrument may experience upward or downward movements, and under
certain circumstances may even become valueless. Past performance
is not a guarantee of future results. In preparing this
information, we did not take into account the investment
objectives, financial situation or particular needs of any person
or affiliated companies. Before making an investment decision, you
should speak to a financial adviser to consider whether this
information is appropriate to your needs, objectives and
circumstances. Tiger Brokers assumes no fiduciary responsibility or
liability for any consequences financial or otherwise arising from
trading in securities if opinions and information in this document
may be relied upon.
Source: Tiger Brokers (Singapore) Pte Ltd
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