UP Fintech Holding, the parent company of Tiger Brokers, delivered an impressive third quarter, reporting record revenue of $101.1 million and a three-year high profit. The company's performance was marked by a substantial increase in client assets, which doubled year-over-year (YoY) to $40.8 billion.

Increased Trading Activity

UP Fintech's Q3 revenue surged 44.1% YoY and 15.6% quarter-over-quarter (QoQ), reportedly driven by increased trading activity and client engagement. The non-GAAP net income attributable to shareholders reached $20.1 million, marking a significant 286.5% QoQ rise and a 25.6% increase YoY.

During the period, UP Fintech added 60,000 new accounts, boosting its total global accounts to 2.37 million. This represents a 10.2% YoY increase. The number of funded accounts also rose significantly, with 50,500 new additions, representing a 19.3% YoY growth.

Strong net deposits played a key role in the record surge of client assets, which increased by 6.7% QoQ and an impressive 115.9% YoY to hit $40.8 billion.

In Singapore, Tiger Brokers, a subsidiary of UP Fintech, reported record trading volumes and commission income, with net asset inflows climbing 134% YoY. The integration of Cash Boost with the Central Depository (CDP) accounts reportedly attracted investors, boosting trading orders by 43% QoQ.

The company experienced a strong increase in client assets in Hong Kong, which rose by over 30% QoQ. Tiger Brokers has introduced weekly stock options to enhance user trading experience and offer cycle options trading.

US Platform

TradeUP, UP Fintech's US platform, demonstrated strong growth, with user downloads rising 122% compared to Q2. The platform's self-clearing capabilities boosted trade execution, with after-hours trading volume increasing by 240% QoQ.

Additionally, the company posted strong client acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term, with newly funded accounts up 104% YoY in Australia. In New Zealand, trading activity surged, with deposits increasing 128% YoY and trading volume rising 249% YoY.

On the wealth management side, the company's assets under management grew 101% YoY, supported by increased client engagement and the popularity of Tiger Vault's money market funds.

In the IPO market, Tiger Brokers ranked among the top three underwriters in Hong Kong, handling nine IPOs in Q3. The firm also continued to expand its Employee Stock Ownership Plan services, adding new enterprise clients and boosting net profit by over 270% QoQ.