AUCKLAND, New Zealand, Aug. 7, 2019 /PRNewswire/ -- The Fintech-driven New Zealand company Tiger Brokers (NZ) Limited (TBNZ) is set to enable Kiwi investors dip their toes into multiple world's most liquid equity markets and build diversified global portfolios.
Leveraging on the deep industry knowhow, strong research and development capability, the company today announced to launch Tiger Trade, a mobile application that offers a relatively low commission for both the first-time and experienced Kiwi traders to invest in the US, UK and Hong Kong equities markets.
"The millennial generation who were born with a significant impact on the development of internet technologies is one of our potential target users," said Vincent Cheung, CEO of TBNZ. "Given the uniqueness in their investing habits, most of the young kiwis are focusing on investing in things that they are familiar with and things that they're contributing to."
According to Cheung, many of the products that the millennial consumed and the social media platforms they used in daily lives are from the US-listed companies.
Although the liquid assets of the millennials are relatively lower, the number is expected to surge by the end of the decade, as the young people enter their prime earning years and a beginning of a considerable wealth transfer from their parents.
Meanwhile, the maturing of the millennials will also lift spending in the technology-driven industries such as household, automobile, education, retails, social media etc., and the "powerful demographic tide", which is described as the "largest generation of shoppers" by the US financial magazine Barron's, will also boost the growth of the stocks and keep the industries continue rising as the population grows.
The initial version of Tiger Trade was firstly launched in 2015. Thanks to the company's robust self-developed fintech solutions, commission fees have been substantially reduced and the efficiency of order execution has seen tremendous pace of growth.
There have been more than 100 versions of updates applied to the app to address users' diversified needs and improve their using experiences. As of 2018, the number of the customer accounts reached to more than 500 thousand, and achieved a total trading volume of US$119 billion.
The parent company of TBNZ, UP Fintech Holding Limited, known as Tiger Brokers in Asia, was successfully listed on Nasdaq this March. Established with a global vision, the company is committed to revolutionizing the online trading industry and provide integrated platform for stock investors in multiple geographic regions.
About Tiger Trade
Tiger Trade is an award-winning trading software designed for all levels of investors to trade multiple markets around the world. With the refreshing experience provided by the app, investors are able to ride the market waves and seize opportunities anytime, anywhere.
In 2018, the total trading volume of the app reached to US$119 billion and it has achieved 1.58 million registered users around the globe.
About Tiger Brokers (NZ) Limited (TBNZ)
TBNZ is a New Zealand Stock Exchange (NZX) accredited NZX Participant Firm and registered financial service provider (FSP number FSP473106). The company is the NZ subsidiary of UP Fintech Holding Limited (TIGR).
About UP Fintech Holding Limited
UP Fintech Holding Limited is Nasdaq-listed company provides online brokerage services to 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. The Company offers innovative products and services as well as a superior user experience to customers through its "mobile first" strategy, which enables it to better serve and retain current customers as well as attract new ones.
The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support.
The Company's proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses. For more information on the Company, please visit: https://ir.itiger.com.