Tiger Brokers (HK) Launches Virtual Asset Trading Via the Tiger Trade App

Tiger Brokers (HK) Launches Virtual Asset Trading Via the Tiger Trade App

by May 6, 2024

Tiger Brokers (HK) has launched virtual asset trading services on its Tiger Trade platform, making it one of the first online fintech brokers in Hong Kong to combine traditional securities and virtual assets trading on a unified platform, according to the company.

Professional investors can now trade 18 virtual assets, including Bitcoin and Ethereum, as well as stocks, options, futures, US Treasury bonds, funds, and other global assets from a single account.

According to the company, the service operates under stringent local regulations, including a recently upgraded Type 1 license and a partnership with HashKey Exchange, a licensed virtual asset trading platform. Transaction fees for virtual asset trading are set at 0.2 percent, with no custody fees.

The platform also supports 24/7 trading, with real-time quotes and market updates accessible via the Tiger Trade app.

Tiger Brokers’ virtual asset trading services are available only to professional investors. Looking ahead, the company plans to extend these services to retail investors and introduce virtual asset spot withdrawal and deposit services, pending regulatory approvals.

In addition to virtual asset trading, Tiger Brokers has received a Type 9 license from the Securities and Futures Commission, allowing it to offer asset management services, including dedicated accounts and collective investment scheme management for professional investors, according to the company.

“We are honoured to be among the first fintech brokerage firms in Hong Kong to introduce virtual asset trading, leading the way in meeting investors’ evolving needs. As investors’ asset allocation requirements become increasingly diverse, our expanded product portfolio will help them seize various market opportunities. Our unified trading platform allows investors to trade and manage different types of investments seamlessly, enhancing user experience and boosting investment efficiency,”

said John Fei Zeng, Chief Financial Officer and Director of Tiger Brokers.

“With Hong Kong’s efforts to develop into a Web3.0 hub, we are confident in its vision. Hong Kong is one of the pioneering international financial centres introducing comprehensive regulations for virtual assets and fostering a trading-friendly environment. We aspire to bolster Hong Kong’s competitiveness in the global financial landscape through our contributions,”

he added.

Featured image credit: Edited from Freepik