Tiger Brokers strengthens global footprint as it celebrates its 8th anniversary
SINGAPORE, June 13, 2022 /PRNewswire/ — Tiger Brokers, a leading online brokerage firm focusing on global investors, embraces its 8th anniversary with steady growth in its customer base in 2022 Q1. According to the company’s latest earnings release, Tiger Brokers now has nearly 1.9 million account holders and with the newly 30,150 funded accounts in Q1, the company’s total number of funded accounts now reaches 703,500, an increase of 87.1% from the same quarter last year.
Notably, since the implementation of its internationalization strategy two years ago, more than 80% of its newly funded accounts currently come from international markets. Particularly in Singapore, where the total number of registered accounts now represents 19% of its population aged between 20 and 70, putting Tiger Brokers in a better than ever position to maintain its market leadership and continue to be the go-to platform for local investors to trade with ease. The company recently entered the Australian market and has been recognized by respected financial comparison site Mozo in their Experts Choice Best Casual ASX Trader Awards with its low fees and diverse investment products, demonstrating product attractiveness in an increasingly crowded market.
Other than a streamlined and intuitive trading process, the rising global popularity of Tiger Trade also derives from the fact that the platform has incorporated many complementary services including in-depth market information, community engagement, investor education and simulated trading, reducing the investor’s burden for additional research.
Since its inception eight years ago, Tiger Brokers’ focus has always been on empowering global investors through its proprietary one-stop trading platform Tiger Trade with reliable and industry-leading technology, so that access to global investment is affordable and efficient. By staying true to the commitments of this version, the company continues to provide global customers with expanded investment choices from shares, ETFs, and managed funds to options, futures, and REITs across various international markets. In addition, over 300 iterations were made to Tiger Trade to ensure investors have all the tools necessary to grow into independent, self-directed and confident investors. In the first quarter of 2022 alone, the company has upgraded dozens of features and added new functions such as a simulation tool that allows customers to calculate the probabilities for successfully subscribing to new shares in a HK IPO, and maximum buying and selling power for options trading.
Other than a brokerage business, Tiger Brokers to date also encompasses institutional and corporate businesses including investment banking and employee stock ownership plan (ESOP). In 2022 Q1, the company ranked third in the U.S. IPO underwriting by deal count among brokerages, reflecting clients’ confidence and trust in Tiger’s ability to connect issuers with global capitals in a challenging time. ESOP business has also been growing rapidly. In the first quarter, the company added 25 ESOP clients with total clients now accumulated to 338.
As commented by the CEO and director of Tiger Brokers Mr Wu Tianhua, “The most noteworthy trend in recent years is the rise of online trading fueled by the influx of retail investors in the digital age. Meme stock mania may have cooled but retail investors continue to grow in number and we as brokers collectively need to offer more services to help this new generation of investors to become long-term market participants.”
“In the past eight years, we have pioneered the fintech brokerage platform through our constant innovation. We were one of the first online brokers to offer U.S. IPO subscriptions to retail clients even with small capital. We added the investor QA function that enables everyday investors to directly communicate and connect with the companies they are interested in through our online community. We constantly introduced new features and improved user experience of every asset class.”
Tiger brokers is expected to roll out version 8.0 of their Tiger Trade app as part of its 8th anniversary celebrations. The newest version allows the customization of the homepage where investors can organize modules on the homepage according to their preferences. Investors can also view the combined returns on a particular stock and corresponding stock options together in one integrated P/L analysis Chart.
A beta program was made available in May with over 200 clients from Australia, New Zealand and Singapore providing critical feedback to assist in the development of the product. The new version of the Tiger Trade app is expected to be launched by the end of June.
“As we look to expand internationally, we will also continue to accelerate our product momentum through 2022 and attract more global talents to explore new ways to further reduce the barriers of global investing and make Tiger Trade one of the most trusted platforms for global investors to plan and grow their wealth,” Wu concluded.
Safe Harbor Statement
This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the cooperation with Interactive Brokers LLC and Xiaomi Corporation and its affiliates; the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; the effects of the global COVID-19 pandemic; and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 28, 2022. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.