ASIA NEWS: Online Brokerage Tiger Brokers Announces Q2 2021 Results; Singapore’s Generation Z New Account Openings Up By +90% Y/Y
/ / ASIA NEWS: Online Brokerage Tiger Brokers Announces Q2 2021 Results; Singapore’s Generation Z New Account Openings Up By +90% Y/Y

ASIA NEWS: Online Brokerage Tiger Brokers Announces Q2 2021 Results; Singapore’s Generation Z New Account Openings Up By +90% Y/Y

ASIA NEWS:


SINGAPORE, Sept 15, 2021 – (ACN Newswire) – Xiaomi-backed online brokerage Tiger Brokers (Singapore) Pte. Ltd. today announced that its quarterly business achieved a significant milestone as the number of account openings represented by Generation Z (18-24 yr) saw an increase of over 90 per cent compared to the same period last year.

For Singapore Generation Z investors, the purchase of stocks, futures and options have increased by at least 9-fold as compared to the same time last year, with a notable surge in the preference for stocks and options by around 14 times in terms of volume.

The Singapore business was one of the largest contributors to Group customer accounts in 2Q 2021, when over 60 per cent of all newly funded accounts were derived from international markets, and the Group added more funded accounts than in its entire cumulative operating history.

Eng Thiam Choon, Chief Executive Officer, Tiger Brokers (Singapore), said, “Generation Z, or the internet generation, can be regarded as one of the most disruptive generations ever. Their investment style and the types of investments they choose is quite different from their peers in the millennial and baby boomer generations. It is evident that investing will change with better data and information available to augment their financial knowledge. “

“At Tiger Brokers, we are constantly working to introduce relevant financial products, services and activities to keep the different types of investors engaged. Eng Thiam Choon said that Gen Z investors are requiring more meaningful interactions and bite-sized content. This requires us to maintain an impeccable user experience while still maintaining a great user experience.

Tiger Brokers Singapore’s parent company, UP Fintech Holding Ltd (NASDAQ: TIGR), known as Tiger Brokers, including subsidiaries and consolidated entities, reported its unaudited financial results for Q2 2021 with total revenues of US$60.2 million, a 98.7 per cent increase as compared to Q2 2020. Tiger Brokers had 1. 65 million customer accounts at the end of Q2 2021, doubling customer accounts from the previous Q2; the total trading volume also increased by 118.2 per cent to US$102 billion compared to US$46.8 billion in the previous Q2.

Since launching in Singapore in February 2020, Tiger Brokers Singapore has added customer access to exchanges including the Australian Securities Exchange (ASX), providing better access to global financial markets and assets to help Singapore investors better manage their investment portfolios.

Recently, Tiger Brokers Singapore announced they had launched a business-to-business segment for financial institutions to provide clients with comprehensive technology solutions including advanced portfolio and risk management tools.

The Tiger Trade mobile application is available for download at the Apple App and Google Play Store.

– Apple App Store: https://apps.apple.com/sg/app/id1023600494

– 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 – available on both online and mobile app (Apple App Store and Google Play Store) offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. Its online and mobile app trading platform, Tiger Trade, offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates.

Through Tiger Trade, Tiger Brokers (Singapore) offers retail investors in Singapore access to six global exchanges in the US (NYSE, NASDAQ), China (Shanghai/Shenzhen-Hong Kong Stock Connect), Hong Kong (HKEX), Singapore (SGX) and Australia (ASX), with access to investment offerings such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), and US-listed over the counter (OTC) equities, and Fund Mall.

Tiger Brokers (Singapore) is the Singapore entity of UP Fintech Holding Limited (NASDAQ: TIGR), 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 under the “TIGR” symbol in 2019. It has offices in China and New Zealand, as well as in the United States and Australia. Tiger Brokers currently has over 1.4 million customers worldwide, with total trading volume exceeding USD123.8 billion in Q1 2021. Investors such as Xiaomi and Jim Rogers are backing the company. For more information, please visit https://www.tigerbrokers.com.sg

About UP Fintech Holding Limited

UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. Investors can trade on multiple international exchanges using the Company’s mobile and online trading platform. Through its mobile-first strategy, the Company provides innovative products and services to customers and a superior user experience. This allows it to better serve current customers and attract new customers. Customers can get comprehensive brokerage and value-added service, such as trade order execution, margin financing and subscription to IPOs, ESOP management, investor education and community discussion, and customer support. The Company’s proprietary infrastructure is able to support trades across multiple currencies and markets. It also supports multiple products and multiple execution venues. For more information on the Company, please visit: https://ir.itiger.com.

For media enquiries, please contact:

PRecious Communications for Tiger Brokers (Singapore)

Email: Tiger@preciouscomms.com

This advertisement has not been reviewed by the Monetary Authority of Singapore. All views expressed to Prospective Clients (“Prospects”) may be suggestive and only on a limited basis. These views may also be based on assumptions made by Tiger Brokers Singapore Pte Ltd regarding Prospects’ investment goals and risk profiles. The Company does not consider our suggestions and sample views to Prospects to be recommendations. The Company’s suggestions are also based upon information provided by Prospects. Tiger Brokers is not able to verify the accuracy or completeness of the information.

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. This information is provided for the information of recipients only. It does not constitute an offer to sell, or a solicitation to purchase. Any price or date information is only indicative and can be modified without notice. All opinions and facts contained herein can be changed at any time without notice. Although we believe the information in this document was derived from reliable sources, Tiger Brokers cannot guarantee its accuracy or completeness. This information is current but does not constitute an offer or recommendation, solicitation or prediction of future stock performance. Investment involves risk. Investment instruments are subject to risk. The prices of investment instruments can fluctuate and each instrument could experience up- or down- movements. In some cases, they may even lose their value. Past performance does not guarantee future results. We did not consider the financial situation, investment objectives or specific needs of any individual or affiliate companies when compiling this information. Talk to a financial advisor before making any investment decisions. If opinions or information contained in this document are relied upon, Tiger Brokers does not assume any fiduciary responsibility.

Topic: Earnings

Source: Tiger Brokers (Singapore) Pte Ltd


Sectors: Exchanges & Software, Daily Finance, Funds & Equities, Blockchain, Local Biz

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