Tiger Brokers targets Hong Kong growth as Beijing curbs overseas stock trading
Tiger Brokers is seeking to offset the effects of Beijing’s regulatory crackdown by tapping business opportunities in Hong Kong, according to its CFO. “User growth is currently mainly driven by local Hong Kong clients, and overall client growth remains very strong,” said John Zeng, Group CFO and CEO of Tiger Brokers (Hong Kong), when asked about Beijing’s scrutiny of unauthorised cross-border…
Tiger Brokers is leveraging Hong Kong's market growth despite Beijing's regulatory crackdown on unauthorized cross-border stock trading, according to its CFO. The firm reported strong user growth driven mainly by local Hong Kong clients, with retail client assets nearly doubling year on year in the three months to September. The average first deposit by Hong Kong users was about US$30,000, the highest among the group's licensed markets.
Tiger Brokers, backed by Chinese smartphone maker Xiaomi, is confident in the potential for further expansion and has already invested US$100 million in Hong Kong over the next one to two years. However, acquiring other brokerages remains unlikely.
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