Tiger Trade adds auto-invest plan for Hong Kong stocks

Rick Steves

“This newly added auto-invest plan is in response to our users’ demand amid market volatility and aligns with their anticipation of the market transitioning from the bottoming-out phase to a market recovery.”

Tiger Brokers has announced the introduction of an automatic investment plan for Hong Kong stocks on its platform Tiger Trade.

The auto-invest plan allows users worldwide to trade at weekly, bi-weekly, and monthly intervals from an accessible threshold of HKD 500.

The HKD 500 minimum investment amount makes it more accessible to the wider public, while the multiple intervals enable investors to tailor more flexible and convenient investing strategies.

In cases where the quantity of stocks held falls short of one board lot upon the auto-invest plan’s termination, investors can sell the shares through fractional shares trading.

Tiger Trade already offers an auto-invest plan for US stocks.

Auto-invest plan addresses user demand amid market volatility

Henry Toh, Chief Financial Office at Tiger Brokers (Singapore), said: “This newly added auto-invest plan is in response to our users’ demand amid market volatility and aligns with their anticipation of the market transitioning from the bottoming-out phase to a market recovery. At Tiger Brokers, our R&D capability positions us to regularly provide investors with a wide variety of investment choices and tools, empowering them to better manage and allocate investments in spite of the ups and downs in the markets.”

Tiger Trade has allowed an automatic deduction of recurring deposits from investors’ accounts, thereby allowing them to focus on selecting their preferred interval and amount when constructing the AIP.

The introduction of Hong Kong stock trading’s AIP came after the US stocks’ AIP initiative, making Tiger Trade

The auto-invest feature includes a calculator to better assist investors in analyzing historical returns and finetuning their AIPs accordingly. Based on the previous prices of stocks and ETFs, the historical rate of return can be computed by setting parameters such as the fixed investing amount, investing frequency, and investing period.

Tiger Brokers (Singapore) operates with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS) and, through Tiger Trade, the brokerage firm offers retail investors in Singapore access to six global exchanges in the US (NYSE, NASDAQ), China (Shanghai/Shenzhen-Hong Kong Stock Connect), Hong Kong (HKEX), Singapore (SGX) and Australia (ASX), with access to investment offerings such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), and US-listed over the counter (OTC) equities, and Fund Mall.

Tiger Brokers ordered to pay $900,000 for AML violations in NZ

The Tiger Brokers group currently serves over 9 million users and over 2 million account holders worldwide, holds 69 licenses and qualifications in different markets, and has over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China.

The New Zealand entity was recently fined $900,000 for breaching the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 in New Zealand.

Tiger Brokers’ AML/CFT violations effectively led to approximately $NZD60.8 million being transacted through New Zealand’s financial system without proper checks and controls in place, between April 2019 and January 2020.

The court added that the brokerage firm’s customer due diligence and record-keeping breaches were of the greatest magnitude, with the former extended to at least 3,768 customers.

Due to the record-keeping breaches, it is unknown the exact number of customers and trading volumes in the 2019-2020 AML/CFT reporting year. The court figured Tiger Brokers served between 69,705 and 126,230 customers and transactions to a gross total value of between $3.6 billion and $35.2 billion.

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