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| About 25% of the platform's users are outside Singapore, mainly in Malaysia, Indonesia and India. |
SINGAPORE, June 15, 2020 - (ACN Newswire) - Tiger Trade, a one-stop mobile and online trading application by Tiger Brokers, has launched access to the Singapore Exchange (SGX). This adds to Tiger Brokers' current menu of stock exchanges, such as the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (NASDAQ), the world's two largest stock exchanges, as well as the Hong Kong Stock Exchange (HKEX). SGX strengthens Tiger Trade's online and mobile share offering for its customers, who now have the ability to invest in financial instruments including A-Shares, Equities, Exchange-Traded Funds (ETFs), Futures and Stock Options.
Tiger Trade's mobile app launched in February 2020 and has seen increasing traction among retail investors since. From March to April 2020, Tiger Brokers saw a doubling of accounts opened in one month, with a transaction volume increase of 345% in the same period, a testament to the strong interest and financial-savviness of Asian retail investors. Tiger Brokers is integrating SGX trading on the back of surging investment interest even in the midst of a global economy affected by COVID-19. SGX has seen the total securities market turnover higher by 35% year-on-year in April this year, per its data.
Mr Wu Tianhua, CEO of Tiger Brokers, said, "Despite the economic uncertainty, Singapore's financial markets remain competitive and well positioned for sustained growth. We saw that the recent market announcements from banks, US-based tech companies, as well as the recent AGM from Warren Buffet, showed increased interest and appetite for investing. Tiger Brokers believes that this is a good time to expand it's services. Our goal is to offer our users the options to manage or diversify their portfolio while providing them with latest news updates around trading behaviour globally on our platform."
About 25% of Tiger Trade's users are based around the region and outside of Singapore, who are taking advantage of the platform's online account opening feature and ability to trade in the US and HK equities through a mobile platform. Most of these users come from Malaysia, Indonesia and India. The launch of SGX on the platform will also allow them access to one of the most vibrant exchanges in the world, alongside the current access to the NYSE, NASDAQ, and HKEX.
Mr Eng Thiam Choon, CEO of Tiger Brokers (Singapore), said, "Many retail investors are hearing about share prices and global markets on the news, which have helped increase their interest in trading. However, we generally advise our users and retail investors to do a lot more research on what they are about to purchase and on how companies fared a few months before the pandemic. Our app provides our users with up-to-date stock quotes, market data and news as well, information which keeps them abreast of the economic landscape in trading, aiding them in making informed decisions."
The easy-to-use app also provides complimentary real-time stock quotes, 24/7 news updates, artificial intelligence-driven data screeners, and easy-to-analyse trading charts. Users can easily add in an account, linking to their preferred local banks for deposit and withdrawals and reducing the brokerage fees when trading on the US and Hong Kong markets. Tiger Brokers also plan to provide access to Contract for Differences (CFDs) by Q1 2021.
The Tiger Trade mobile application is available for download from the Apple App store and Google Play.
Apple App store: https://apps.apple.com/sg/app/id1023600494
Google Play: 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 commission rates for as low as S$2.80 (US$1.99) per trade, 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 from Apple App Store and Google Play. Both online and mobile app users have access to the New York Stock Exchange (NYSE), NASDAQ, the Hong Kong Stock Exchange (HKEX) and the Singapore Stock Exchange (SGX).
Tiger Brokers Singapore is the Singapore entity of UP Fintech Holding Ltd, known as Tiger Brokers in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in U.S. equity trading by volume among platforms catering to Global Chinese investors in less than two years. The company was listed on NASDAQ under "TIGR" in 2019. With offices in China, United States, Australia, New Zealand and Singapore, Tiger Brokers had over 743,300 customers worldwide and a total trading volume of more than US$44.1 billion in Q1 2020. The company is backed by well-known investors such as Xiaomi. 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
Phone: +65 9667 3157 or +65 9152 0086
Topic: Press release summary
Source: Tiger Brokers (Singapore) Pte Ltd
Sectors: Exchanges & Software, Daily Finance, Crypto, Exchange, Funds & Equities, Blockchain Technology
https://www.acnnewswire.com
From the Asia Corporate News Network
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