One particularly impressive figure stands out from the company’s many updates. Tiger Brokers reported 1.65 million customer accounts worldwide as of June 30, twice the number in the same period last year. How has it fuelled such explosive growth? For Tiger Brokers (Singapore), Eng points to the Xiaomi-backed brokerage’s unique selling points: Its fast account opening process, no minimum deposits, user-friendly system and the power to access multiple markets from a single platform.

See: Tiger Brokers sees surge in Gen Z new account openings in 2QFY21
The spike in users also carries a generational slant. In September, Tiger Brokers (Singapore) reported 90% y-o-y growth in new accounts made by Generation Z, or those born from 1997. Generation Z now makes up 30% of Tiger Brokers (Singapore)’s customers.
In addition, Generation Z investors in Singapore increased their purchase of stocks, futures and options nine-fold during 2QFY2021 ended June, compared to the same period a year ago. As younger investors move beyond just securities, Eng reminds them to be cautious when trading, and that a little investor education can go a long way. “Know your risk. Understand the concept and calculations behind margins and leverage, and the risk of selling options,” says Eng, who has clocked 15 years in the financial sector. “Generation Z, or the internet generation, can be regarded as one of the most disruptive generations ever. There is a distinct difference in how they invest and what they invest in compared to the millennials or baby boomers,” says Eng. “With better access to data and information to supplement their financial knowledge, on top of increased awareness around world issues, it is clear that the narrative for investing will no longer be how it used to be,” he adds. Eng says this perhaps wistfully. Prior to leading Tiger Brokers (Singapore), Eng spent 12 years at Phillip Futures where, among other things, he helped oversee the Greater China market. To meet the needs of a growing user base, Tiger Brokers (Singapore) has been hard at work upgrading its infrastructure. In June, Tiger Brokers (Singapore) entered into a partnership with Alibaba Cloud, the digital intelligence and technology arm of Alibaba Group. With Alibaba Cloud providing endto-end technology support to the Tiger Brokers (Singapore)’s Tiger Trade platform, users enjoy fast and uninterrupted trading, says the brokerage. “Their strong domain knowledge also helps us understand better how cloud computing can help further our business plans by providing us with end-to-end solutions, including value-added security services, ensuring the safety of our data in the system,” says Eng. More recently, Tiger Brokers (Singapore) partnered with Onfido — a global identity verification and authentication company — to provide Tiger Brokers’ customers with a smoother onboarding process.
See also: Tiger Brokers partners Onfido for faster customer onboarding process using AI
Through Onfido, Tiger Brokers’ users can verify their identity by taking a photo of their passport or Singapore national registration identity cards (NRICs) and a short video of themselves. “We have constantly made sure we update our platform… and our partnership with Onfido will allow us to onboard new users within a few hours instead of the average of two to three business days,” says Eng. With a smoother trading experience, Tiger Brokers (Singapore) is also looking to expand its suite of trading options. Tiger Brokers (Singapore) launched Fund Mall at the start of the year, a marketplace of global mutual funds offering access to more than 100 money funds, bond funds and equity funds.
