SINGAPORE, June 10, 2020 - (ACN Newswire) - Tiger Trade, a
one-stop mobile and online trading application by Tiger Brokers,
launches access to the Singapore Exchange (SGX) today. This adds to
Tiger Brokers' current list of stock exchanges, such as the New
York Stock Exchange (NYSE) and the Nasdaq Stock Market (NASDAQ),
the world's two largest stock exchanges by market capitalisation of
listed companies, as well as the Hong Kong Stock Exchange (HKEX).
It strengthens Tiger Trade's online and mobile offerings for its
customers, who now have the ability to invest in financial
instruments such as A-Shares, Equities, Exchange-Traded Funds
(ETFs), Futures and Stock Options.
Tiger Trade's app launched in February 2020 and has seen increasing
traction among retail investors since. From March to April 2020,
Tiger Brokers saw almost a doubling (195%) of the number 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 Singapore retail investors. It enhanced
available investment opportunities through integrating SGX
opportunities to investors 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 COVID-19
pandemic and 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 our services to align
with the interest of our users. 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 current access to the New York
Stock Exchange (NYSE), NASDAQ, and Hong Kong Stock Exchange.
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 fare a few months before the pandemic. Our app provides
our users with up-to-date stock quotes, market data and news -
information which keeps them abreast of the economic landscape in
trading, aiding them in making informed decisions."
The Tiger Trade app offers its retail investors one of the lowest
commission rates for as low as US$1.99 (S$2.80) per trade. From now
till 31 December 2020, they are offering commission rates for
Singapore stocks at 0.08% per trade with no minimum charges.
Their 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 to its users, providing them with the
capability to diversify their portfolio through an entire range of
investment options across certain markets.
The Tiger Trade mobile application is available for download in the
Apple App store 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, 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 in Google Play Store
and the Apple App Store - offering a mobile-savvy generation of
retail investors similar trading opportunities as their online
users, such as Equities, Exchange-Traded Funds (ETFs), Futures and
Stock Options on their mobile phones. Both online and mobile app
users have access to the Singapore, U.S. and Hong Kong stock
markets such as the New York Stock Exchange (NYSE), NASDAQ, the
Hong Kong Stock Exchange (HKEX) and the Singapore Stock Exchange
(SGX).
(www.tigerbrokers.com.sg/help/detail/SGXstocksfeestructure).
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 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 743,300 customers
worldwide currently, with 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, 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
Phone: +65 9667 3157 or +65 9152 0086
Source: Tiger Brokers (Singapore) Pte Ltd
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