Parent UP Fintech files Q3 Report with Nasdaq earlier this week
SINGAPORE, Dec 3, 2021 - (ACN Newswire) - Online brokerage Tiger Brokers (Singapore) Pte. Ltd. ("Tiger Brokers
Singapore") today announced that the average Singapore 'first-timer' account deposit has increased to $5,000 this
quarter (Q4 2021), compared to the average initial deposit of $4,000 in Q2 and Q3 2021, as the pool of investors wishing
to access Singapore's diverse range of investment opportunities continues to broaden. Over 80% of the 353,300 newly
funded accounts acquired through three quarters (Q3 2021) are attributable to international markets, including
Singapore, already surpassing the full year guidance of 350,000 newly funded accounts.
Eng Thiam Choon, Chief Executive Officer, Tiger Brokers (Singapore), said of these results, "Our strong growth and
credibility in Singapore has placed us in a great position for internationalization as more and more people are
evidently choosing to include trading and investments as part of their wealth growth plan. We will continue to work
towards building a seamless trading experience for investors on our online and mobile trading platform, Tiger Trade,
while keeping them engaged through the variety of financial products available that are relevant and meaningful to them
and their lifestyle."
Tiger Brokers Singapore's parent company, UP Fintech Holding Limited (NASDAQ: TIGR) or Tiger Brokers (including all of
its subsidiaries and consolidated entities), recorded a total revenue at US$60.8 million for their unaudited Q3 2021
financial results, which was a 59.6 per cent increase as compared to third quarter ended 30 September 2020 ("Q3 2020").
Tiger Brokers has a total of 1.77 million customer accounts as per Q3 2021, approximately doubling the number of
customers accounts in the same quarter of last year, whilst the total number of customers with deposits increased 185.1
per cent to 612,000 on a year-over-year basis.
As part of the Company's current strategic global expansion plans, Tiger Brokers (Singapore) has also been established
as the dual headquarters to complement the existing headquarters in Beijing and streamline operational efficiency. The
Singapore office will also be the Company's new principal executive office. The decision is intended to promote the
Company's current strategic global expansion plans and streamline the operational efficiency of the Company; the
decision is also supported by the fact that Singaporean clients already account for a substantial and growing proportion
of the Company's total client base.
Tiger Brokers has also acquired Ocean Joy Securities Limited, a Hong Kong licensed broker dealer regulated by the Hong
Kong SFC (Securities and Futures Commission), to further expand its brand into Asia to build its local client base and
contribute to the growth of the vibrant and dynamic capital market through its innovative fintech platform.
Substantiated by its rapid growth in Asia, Tiger Brokers (Singapore) was most recently awarded "Asia's Most Innovative
Company" at the 2021 Fortune Times Awards Ceremony for its innovation to bring better services to local users and add
value to the financial industry in Singapore. It was also recently officially admitted as a trading member of Singapore
Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited, as well as a clearing member and
depository agent of The Central Depository (Pte) Limited.
Additionally, Tiger Brokers (Singapore) is also proud to announce that they are a member of Blockchain Association
Singapore (BAS) - a growing community to leverage blockchain and scalable technologies for business growth and
transformation. Under BAS' membership, Tiger Brokers (Singapore) will be able to raise further awareness of blockchain
and deliver positive impact through continuous innovation for the investment community on their online and mobile
trading platform, Tiger Trade.
The Tiger Trade mobile application is available for download on the Apple App Store and Google Play Store.
- Apple App Store:
- Google Play Store:
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, 24/7 finance news updates.
Through Tiger Trade, Tiger Brokers (Singapore) offers retail investors in Singapore access to six global exchanges: US
(NYSE, NASDAQ), China (Shanghai/Shenzhen-Hong Kong Stock Connect), Hong Kong (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 a 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. Founded in 2014, the company was listed on NASDAQ
under "TIGR" in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has
over 1.7 million customers worldwide currently, with a total trading volume exceeding USD92.6 billion in Q3 2021. For
more information, visit https://www.tigerbrokers.com.sg.
About UP Fintech Holding Limited
UP Fintech Holding Limited (NASDAQ: TIGR) is a leading online brokerage firm focusing on global investors. The Company's
proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on
multiple exchanges around the world, while proprietary infrastructure and advanced technology are able to support trades
across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearing houses.
For more information, please visit: https://ir.itiger.com.