Tiger Brokers New Zealand Adds Australian Securities Exchange To Its Online And Mobile Trading Platform
New Zealand online stock brokerage Tiger Brokers, which has been operating since 2015, has added the Australian Securities Exchange (ASX) to its digital trading platform from 15 December 2020.
Tiger Brokers’ mobile and online trading platform, Tiger Trade, enables investors to trade in equities and other financial instruments on multiple exchanges around the world using one integrated account.
The addition of the ASX to the trading application brings the current number of exchanges available to Tiger Trade New Zealand investors to six including Australia, China, Hong Kong, Singapore and the United States.
“Since early this year we have seen substantial interest from New Zealanders in international equities. Trading on the ASX in the year to July 2020 was up 21 percent, so it was natural that we would offer ASX trading to Kiwi investors,” says Tiger Brokers New Zealand Chief Executive Officer Vincent Cheung.
Additionally to the ASX, Tiger Brokers’ local customers can now access more than 7,000 listed equities on the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX) and the Singapore Stock Exchange (SGX).
The top 10 stocks traded on the Tiger Trade platform include Tesla, Alibaba, Apple and Netflix from the NYSE and NASDAQ, and Tencent and Alibaba on the Hong Kong Exchange.
Mr Cheung says mobile and online technology provides convenient access for retail investors to international markets; “access to another popular exchange such as the ASX will allow investors to further diversify their investment portfolio.”
Tiger Trade has experienced increasing numbers of account openings and transactions. Retail investors are increasingly comfortable using online and mobile trading platforms, reflecting the growing digitisation of the financial services industry.
It can be seen from the UP Fintech Q3 statement, as of 30 September 2020, the total account balance reached US$10.9 billion, a 188% year-on-year increase.
The Tiger Trade mobile application is available for download on Apple App store and Google Play store.