Investors using the Tiger Trade app can now access near-real-time insight about the companies they invest in, thanks to a new partnership between Tiger Brokers and the Australian media fintech Grafa.
The NASDAQ-listed online brokerage collaboration aims to empower retail traders to make better investment decisions by providing information about US and Australian stocks, as well as crypto, economy, and forex.
Tiger Brokers Integrates Grafa's AI-Powered Newsfeed into Trading App
Integrating Grafa's AI-powered newsfeed into the Tiger Trade app will give users access to data-driven news about the most popular assets.
"As a majority of our Australian users trade both ASX and US stocks, gaining near-real time insights about the companies they put money behind is as critical as gaining access to the US market," Jack Liang, the Vice President of Tiger Brokers Australia, commented.
In addition to the newsfeed integration, Grafa will offer Tiger Trade users a free 6-month subscription to its advanced platform, which features market-screening functionality, charting, and extensive data analysis. Grafa's CEO, Heidi Cuthbert, highlighted the platform's proprietary personalization, which notifies users of major events that impact their investments in real time.
"Right now, Grafa has data and news about US and Australian stocks, but this will quickly expand to include more global stock markets," Cuthbert added.
For Tiger Brokers, it is another offering update after January's move to offer retail traders in Hong Kong the ability to trade cryptocurrencies . However, this would not be possible without expanding the license granted by the Securities and Futures Commission, which is held by UP Fintech Holding Limited, the operator of the Tiger Brokers brand.
In addition, Tiger Fund Management, a subsidiary of the Tiger Brokers Singaporean branch, has launched its activities in the country following the acquisition of its Capital Market Services, Fund Management license from the Monetary Authority of Singapore. With assets under management exceeding SGD 300 million ($220 million), the company seeks to provide various asset management and wealth management solutions to individual and institutional clients.
UP Fintech's Revenue Goes Up
UP Fintech recently reported an uptick in its financial metrics for the third quarter. This includes a notable increase in revenue, along with a rise in both trading volumes and the number of active users. The firm's revenue saw an impressive increase of nearly 27% over the previous year, while its net income rose 13.5%.
The company's financial summary has revealed that total revenues escalated 26.6% year-on-year, reaching $70.1 million, and net revenues experienced an uplift of 13.5% to $58 million.
There was also a noticeable expansion in the brokerage's customer base, with 24,604 new funded accounts being opened in the third quarter, elevating the total to about 865,500. The total account balance experienced an improvement of 45.7% year-over-year, reaching $18.9 billion, driven by strong net asset inflows exceeding $1.5 billion.
Moreover, the company's performance improved not only on an annual basis but also sequentially. Revenue for the second quarter was reported at $66.1 million, which is 6% less than the figure reported in the subsequent period.
