22 December 2016

Tiger Brokers arrives in Singapore

China-based international securities firm Tiger Brokers has further expanded in Asia on the heels of its growth in mainland China. The latest version of Tiger Trade, its one-stop trading platform for global asset allocation with a focus on US stocks, now supports Chinese-speaking retail investors in Singapore.  

The Tiger Trade app provides data on individual stocks, technical indicators and global news, all in Chinese, enabling Chinese investors to trade stocks across capital markets worldwide. Offerings are low-commission and support cross-border investment.

Tiger Trade will also provide fast trade execution, competitive transaction fees, background information in Chinese as well as transaction services for US, Hong Kong and mainland China A-shares, with trades for stocks in all three of the markets handled through a single deposit in one account.

Tiger Brokers founder and CEO Wu Tianhua said that Singaporean investors can open an account online in three minutes. In addition to access to US stocks, Hong Kong stocks, and China A-shares, Tiger Brokers supports transactions involving securities margin trading in addition to 13,000 US stocks, share options and ETF products.

Wu explained: "Our goal is to make Tiger Trade the app of choice for any Chinese speaking investor with an international investment portfolio. Growth in securities trading apps is an inevitable trend, in tandem with the accelerating popularity of smartphones and driven by the demand by Asia-based investors for a more globally diversified allocation of their assets."

Over US$100 million in transactions were booked through Tiger Trade in the first month following the platform's launch. The dollar value of transactions handled through Tiger Trade jumped 22 times in the more than one year following the initial launch, topping US$2.2 billion a month.

According to Tiger Brokers, Singapore-based investors typically face substantial fees when trading US stocks through the existing choice of venues compared to a similarly-placed investor in the US. The minimum commission required per transaction is priced at several tens of dollars.

Tiger Brokers users enjoy commissions as low as US$0.01 per share with a minimum of US$2.99 per transaction when trading US stocks. As an illustration, if the investor completes one transaction per week, involving 300 shares, he or she will save US$30 per transaction on average or US$1,500 in one year.

Tiger Brokers' shareholders include Xiaomi Technology and Citic Securities.
posted from Bloggeroid