Xiaomi-backed online trading platform Tiger Brokers (Singapore) announced the launch of its inaugural lifetime zero commissions campaign for unlimited trades on US stocks for users.
Against the backdrop of continued macroeconomic and geopolitical uncertainty in 2022, maintaining a diversified portfolio will help investors meet their long-term investment objectives while helping to moderate volatility along the way. Investors in Singapore and in the Southeast Asia region have shown increased interest and appetite for investing in global markets. Data from Tiger Brokers (Singapore) reveals that there has been an upward trend, with an annual growth rate of 250% in trading volumes of US securities among its user base over the past two years.
Eng Thiam Choon, CEO of Tiger Brokers (Singapore) commented, “We want to be one of the leading trading platforms for investors in Singapore and deliver a seamless online trading experience with our cutting-edge technology. Approximately 87% of our account holders currently trade US securities, and we have been seeing increased investor interest in US markets amid increased volatility globally. Through this campaign, we hope to lower the barriers to investing and make it easier and more efficient for Singapore investors to access global markets through our platform”.
Based on Tiger Brokers (Singapore) data, the average daily trading value of US Securities amounted to $102 million per day on its platform. With commission-free trades, users can better capitalise on small price movements in the market and unlock cost savings with more efficient trading using Tiger Brokers’ (Singapore) trading platform. Investors new to trading can also benefit from access to US markets at a lower cost.
Tiger Brokers (Singapore) has witnessed significant growth over the past year, with the fourth quarter of 2021 registering the third consecutive quarter of over 100% year-over-year growth in funded accounts in Singapore. Gen Z, or those born from 1996 to 2010 investors account for 28% percent of Tiger Brokers (Singapore)’s customer base.
“We are committed to evolving and enhancing our products and services to meet the changing needs of our investors and empower a new generation of investors in Singapore with the ability to achieve their financial goals. Building on our strong growth momentum in the local market, Singapore will continue to serve as a launchpad as we take a calibrated approach to expand our footprint across other markets in Southeast Asia,” Thiam Choon added.
Tiger Brokers (Singapore) is backed by US-based brokerage Interactive Brokers, Xiaomi and renowned investor Jim Rogers. The online trading platform currently has over 1.8 million customers worldwide, with an annual trading volume of more than $404.3 billion as of December 2021.
Re-disseminated by The Asian Banker