Tiger Brokers Singapore, an online brokerage backed by Chinese technology company Xiaomi, has reported 108% growth q-o-q in the number of new investors in 4QFY2020 compared to 3QFY2020.
Trading volume for the quarter surged by 215% q-o-q.
Since February 2020, Tiger Brokers has also seen the increase in Gen Z investors on the platform, making up 30% of its Singapore customer base.
On Jan 19, Tiger Brokers says it has entered into four new strategic partnerships with fintech provider Iress, online trading community TradingView, Refinitiv and DBS.
Through these partnerships, investors can now gain access to best-in-class and updated financial information before making their investing decisions real time.
Investors, through the partnership, may also now transfer their funds instantly into the Tiger Trade platform.
A new product
In the same statement, Tiger Brokers announced the launch of its new product, Fund Mall, that now gives investors access to over 100 global mutual funds including money funds, bond funds and equity funds.
SEE: Tiger Brokers ride on big tech parentage to draw in new investors
Investors may choose to invest in the funds based on their requirements such as returns, cash liquidity and risk appetite within a single portal.
The new product expands the existing products offered by the online brokerage including the six global exchanges, equities, exchange-traded funds (ETFs), futures and stock options.
“The Covid-19 pandemic fundamentally changed the trading and investment landscape today. Investors of today are now fully comfortable with investing online — not just Gen Zs, but throughout the investor market,” says Eng Thiam Choon, CEO of Tiger Brokers Singapore.
“We at Tiger Brokers want to ensure that we offer a seamless investing experience to our investors while strengthening our offerings to keep them engaged. On the other hand, we are looking to be the go-to online brokerage for traditional investors to explore a hybrid investment portfolio,” Eng adds.
“We are excited to expand our business in Asia by working with Tiger Brokers. Over the past few years we’ve seen significant growth in markets like Singapore and Hong Kong, so partnering with leading trading firms in the region like Tiger is the logical next step for us,” says Pierce Crosby, General Manager of TradingView.
“While focused on Singapore today, we think Tiger is a great fit for our various communities in the Asia region as well, and we look forward to further expansion in 2021,” he adds.
