Tiger Brokers Launches Virtual Asset Trading for Retail Investors in Hong Kong

Tiger Brokers has received a license from the Hong Kong regulator to provide virtual asset trading services to retail clients. This authorization enables retail investors in the region to trade Bitcoin and Ethereum via Tiger Trade, the company's primary platform. Initially, these virtual asset trading services were available only to professional investors.

John Fei Zeng, the Chief Financial Officer and Director of Tiger Brokers, emphasized the growing interest among investors in virtual asset investments. He observed that many investors hold virtual assets alongside stocks and other assets in their portfolios. He explained that Tiger Brokers aims to offer a secure, convenient, and cost-effective platform for all Hong Kong investors, enabling them to trade both traditional financial securities and virtual assets within a single app.

This integration removes the need to open multiple accounts on various platforms and improves capital efficiency. For example, during significant stock market events, investors can sell their virtual assets and immediately purchase securities on Tiger Trade to quickly seize opportunities.

Tiger Trade allows users to manage a diverse range of global assets, including stocks, options, futures, US Treasury bonds, and funds, along with virtual assets. The company's effort to expand its virtual asset services to retail investors started with the SFC's upgrade of its Type 1 license conditions in January.

In early May, the firm launched virtual asset trading services for Hong Kong investors, marking its entry into the rapidly expanding virtual asset sector. Tiger Brokers has now broadened its services to include retail investors, showing its commitment to the growing digital asset market.

The company indicated that the commission rate for retail investors in the new offering is 0.2% of the transaction amount, with no custody fees. The new service offers instant settlement for virtual asset trades and 24/7 trading availability.

In January, UP Fintech Holding Limited, the operator of the Tiger Trade online brokerage platform, received approval from the Hong Kong Securities and Futures Commission to enhance its license to include dealing in virtual assets. This approval positioned UP Fintech as one of the first brokerage companies in Hong Kong to offer digital asset trading services.

By incorporating digital asset trading into the Tiger Trade platform, the company provides trading services across various asset classes from a single account. This unified platform gives professional investors access to both traditional securities and crypto assets.