SINGAPORE, July 16, 2024 /PRNewswire/ -- Tiger Brokers, the leading online brokerage firm, celebrated its 10th year anniversary with over 10 million users globally at their exclusive appreciation event in Singapore last Friday.
Pictured L-R: Dong Ming, Vice President and Co-Founder of Tiger Brokers, Wu Tianhua, Global CEO and Co-Founder of Tiger Brokers, Ian Leong, Singapore CEO of Tiger Brokers
Over 200 attendees were treated to an evening of roaring fun at Jewel's Cloud 9 Piazza, which included a lightshow, Tiger Brokers themed cocktails, "Tygo" customisable avatars and free-flow of refreshments. Also in attendance was Wu Tianhua, Founder and CEO of Tiger Brokers, Ian Leong, CEO of Tiger Brokers Singapore and Soros Fund Management Co-Founder and famed American investor Jim Rogers.
Dong Ming, Vice President and Co-Founder, and Wu Tianhua, Global CEO and Co-Founder of Tiger Brokers, with Soros Fund Management Co-Founder and Investor Jim Rogers
In his keynote address, Wu shared: "Today, investing and trading have transformed significantly. In the past, investors filled out trades on paper forms; now, technology has revolutionised this process. At Tiger Brokers, we embrace advanced technology to simplify investing for modern investors, attracting a younger demographic and driving future growth in trading."
"We started Tiger Brokers with a mission, to build a platform that prioritises our users and creates incremental value for them. 'Customer First' is not just a tagline; it is our promise and our practice. We've come a long way since, and the team remains steadfast in innovating new products and enhancing features to meet local demands, ensuring our users consistently have access to the most advanced, efficient, and user-friendly tools available," he continued.
Since setting up HQ in Singapore in 2020, Singaporeans traders now represent the largest share in the group's total funded clients. Over half of monthly trading clients hail from Singapore, making it the most active region, surpassing Hong Kong, the US, Australia and New Zealand. Tiger Brokers has seen a compound annual growth rate of 539% in local account openings since entering the Singapore market, with one third of Singaporean residents having used Tiger Trade. Tiger Brokers was the first amongst local fintech brokers to reach a milestone of one million users.
Tiger Brokers Singapore today releases its inaugural study, providing insight into Singapore's traders.
In terms of Singaporean users on Tiger Brokers, over three in five (64%) are male, and under two in five (36%) are female. The majority of traders are Millennials aged 28 to 37, which make up two in five (39%) of users, followed by Gen Zs aged 18 to 27 (24%), and Gen X-ers aged 38-47 (20%). Baby Boomers aged 48 to 57 make up one in ten (11%) of users, and those aged 58 comprise around 6%. The introduction of the Tiger BOSS Debit Card earlier this year was an example of how Tiger products cater to different ages.
When it comes to the time of day users are most active, it appears Singaporean traders and investors are busiest in the late afternoon, with a quarter (25%) logging into the platform. This is followed closely by early afternoon and late morning (both 22%) and early morning (16%). The least popular time of day is at noon (15%).
The top ten most traded NASDAQ / NYSE stocks in Singapore unsurprisingly consist of six of the "Magnificent Seven" stocks, with Tesla emerging as the most popular, followed by Apple, Nvidia, Google, Microsoft and Amazon. Nio Inc and Alibaba are also popular stocks amongst Singaporean traders, as are Palantir Technologies and AMD.
The popularity of these stocks are reflected in the top five most popular industries Singaporean traders are in, which are automotive manufacturing, semiconductor products, applications software, computer hardware and interactive media and services.
Ian Leong, CEO of Tiger Brokers Singapore shared: "We are so immensely proud of the milestones we've achieved since entering the Singapore market. Our laser sharp focus in harnessing the power of technology to understand the market, deliver a wide range of products, as well as expanding into institutional businesses has allowed Tiger Brokers to redefine the landscape of financial services, and empower Singaporean investors. We look forward to many more milestones to come, as we continue to develop our offerings to retail and institutional investors alike, creating wealth for all."
Tiger Brokers (Singapore) CEO Ian Leong takes a selfie with guests
Other than securities trading, Tiger Brokers wealth management offerings cater to various risk preferences and goals, including money market funds, bond funds, and ETFs. In Singapore the "Tiger Vault '' cash management tool has seen an AUM growth of 21% y-o-y and seen its users grow by 154% y-o-y, a testament to its popularity, with its low threshold, stable returns and flexibility. The brokerage is now looking to institutional businesses, to improve asset and wealth management and client relationship management efficiency.
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 SAR (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. The group currently serves over 10 million users and over 2 million account holders worldwide on our flagship platform "Tiger Trade", own 77 licenses and qualifications in different markets, and have over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China.
For its advanced digital capabilities and exemplary customer service, Tiger Brokers (Singapore) was conferred the Fintech – Financial Services at the 2023 SBR Technology Excellence Awards, and included for the second time in a row in the Singapore Best Customer Service Survey 2023/24 by The Straits Times and research firm Statista, in the sub-category of trading and brokerage services, under Real Estate and Banking. In recognition of the high quality of service and information provided to help retail investors to invest smartly, Tiger Brokers (Singapore) was selected as the "Winner" of the Best Retail Broker Award category, in the Securities Investors Association Singapore's Investors' Choice Awards 2023.
For more information, please visit https://www.tigerbrokers.com.sg/
