Tiger Brokers has secured a license from the Hong Kong regulator to offer virtual asset trading services to retail clients. This approval allows retail investors in the region to trade Bitcoin and Ethereum through Tiger Trade, the company's flagship platform. This move happened after Tiger Brokers initially introduced virtual asset trading services exclusively for professional investors.

Growing Interest in Crypto Assets

John Fei Zeng, the Chief Financial Officer and Director of Tiger Brokers mentioned: "We have seen a growing interest among investors in virtual asset investments. Many investors not only hold virtual assets but also stocks and other assets in their portfolios. Tiger Brokers aims to provide a secure, convenient, and cost-effective platform for all Hong Kong investors, allowing them to trade traditional financial securities and virtual assets within a single app."

"This eliminates the need to open multiple accounts on different platforms and enhances capital efficiency. For example, when a major event occurs in the stock market, investors can sell their virtual assets and immediately buy securities at Tiger Trade to quickly seize the opportunity."

Tiger Trade enables users to manage a variety of global assets, including stocks, options, futures, US Treasury bonds, and funds, alongside virtual assets. The company's journey toward expanding its virtual asset services to retail investors began with the SFC's upgrade of its Type 1 license conditions in January.

Regulatory Milestones

The firm launched virtual asset trading services for Hong Kong investors in early May, marking its entry into the rapidly growing virtual asset sector. Tiger Brokers has now expanded its services to include retail investors as it commits to the rapidly expanding digital asset market.

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

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

The company offers its users trading services across different asset classes from a single account by integrating digital asset trading into the Tiger Trade platform, in addition to stocks, options, futures, and funds. The unified Tiger Trade platform provides professional investors with a means to access traditional securities and crypto.