Tiger Brokers Reports 108% Growth in New Investors in Q4 2020

Singapore-based online brokerage Tiger Brokers, backed by Xiaomi, reported a 108% surge in new investor acquisition during the fourth quarter of 2020, when measured against the third quarter. Concurrently, the platform experienced a 215% increase in trading volume.

The company also announced four new strategic partnerships with financial technology providers Iress, online trading community TradingView, market data provider Refinitiv, and financial group DBS. These collaborations aim to enhance the brokerage's online platform by providing investors with real-time financial data and facilitating instant fund transfers. Furthermore, Tiger Brokers launched Fund Mall, a new product offering access to over 100 global mutual funds through a single portal.

Tiger Brokers has observed a notable increase in engagement from Gen Z investors, who constituted 30% of its Singaporean customer base as of February 2020. The company had previously set a target to grow its user base by 50% by the first quarter of 2021.

CEO Eng Thiam Choon commented that the COVID-19 pandemic has significantly altered the investment landscape, leading to greater comfort with online trading across demographics. Tiger Brokers aims to provide a seamless user experience and expand its offerings to appeal to both new and traditional investors.