Broker News

Tiger Brokers and Grafa to Enhance Trading App 

Users of the Tiger Trade app now have access to real-time updates on their investments through a partnership with Australian fintech media firm Grafa.

This collaboration with the NASDAQ-listed brokerage is designed to help retail investors make more informed choices by offering details on US and Australian equities, cryptocurrencies, economies, and forex markets.

By incorporating Grafa’s AI-driven newsfeed, Tiger Trade app users will gain insights into key asset movements.

Jack Liang, Tiger Brokers Australia’s Vice President, stated the importance of Australian clients receiving timely information on ASX and US stocks and having easy access to the American market.

Grafa also provides Tiger Trade customers with a 6-month complimentary subscription to its premium service, which includes market-scanning tools, charting, and comprehensive analytics. Heidi Cuthbert, CEO of Grafa, mentioned the platform’s unique personalization feature alerts users instantly about significant investment-impacting events.

Heidi Cuthbert mentioned plans to broaden their coverage to more international stock markets beyond the current focus on US and Australian stocks.

After initiating cryptocurrency trading for Hong Kong investors in January, Tiger Brokers is expanding its services. It is contingent on obtaining regulatory approval from the Securities and Futures Commission through UP Fintech Holding Limited, Tiger Brokers’ operator.

Furthermore, following the approval of the Monetary Authority of Singapore, Tiger Fund Management, a part of Tiger Brokers in Singapore, began its operations. Managing over SGD 300 million ($220 million), it aims to offer varied asset and wealth management services to both individual and corporate clients.

UP Fintech Sees Revenue Increase

UP Fintech reported a significant rise in its financial results for the third quarter, with increases in revenue, trading volume, and active clients. Its revenue jumped nearly 27% compared to the prior year, with net income up by 13.5%.

The company announced that its total revenues surged 26.6% year-over-year to $70.1 million, and its net revenues rose 13.5% to $58 million.

The third quarter saw the brokerage welcome 24,604 new funded accounts, boosting its total to approximately 865,500. The total account balance grew 45.7% from the previous year to $18.9 billion, thanks to over $1.5 billion in net asset inflows.

Additionally, the firm’s financial health improved sequentially, with revenues moving from $66.1 million in the second quarter to a higher figure in the next period.

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