Tiger Brokers (Hong Kong), an internet-based brokerage firm, announced yesterday (25th) that it has obtained the conditions for upgrading its Type 1 license from the Securities and Futures Commission of Hong Kong. In the future, professional investor clients will be able to trade virtual assets on Tiger Brokers’ trading platform, Tiger Trade.
Investors can trade Bitcoin and Ethereum on Tiger Trade. Tiger Brokers stated that Hong Kong residents with investment assets exceeding HKD 8 million or institutions with assets exceeding HKD 40 million will be able to trade virtual assets, including Bitcoin and Ethereum, on Tiger Trade.
As for when retail investors will be able to trade virtual assets, Tiger Brokers stated that it is currently being planned and is awaiting regulatory approval. Tiger International’s CFO, Tony Qiangfei Zeng, said:
“What is Tiger Brokers?
Tiger Brokers, established in 2014, is an online brokerage firm listed on NASDAQ under the stock code TIGR. According to official information, its self-developed trading platform, Tiger Trade, has over 10 million users in countries and regions such as the United States, Singapore, Australia, and New Zealand, with an annual trading volume exceeding USD 400 billion.
The upgraded license from the Securities and Futures Commission of Hong Kong is for Tiger Brokers’ Hong Kong subsidiary, which holds Type 1, 2, 4, and 5 licenses. Since entering the Hong Kong market, Tiger Brokers has been focusing on providing zero commission and zero platform fees for Hong Kong stock trading and has launched its wealth management product, Tiger Vault, in the Hong Kong market.
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