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 by market capitalisation, 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 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
