Technology

Tiger Brokers Named #1 in WealthTech on Fortune’s Asia Fintech Innovators of 2024 List

Published

2 weeks ago

November 8, 2024

SINGAPORE, Nov. 8, 2024 /PRNewswire/ — Tiger Brokers (Nasdaq: TIGR), a leading global online brokerage firm, has been recognized as the #1 company in the “Wealth Tech” category on Fortune’s inaugural Asia Fintech Innovators of 2024 list. Curated by Fortune’s editors, this list highlights 60 of Asia’s most dynamic financial services companies.

Tiger Broker’ dedication to technology-driven solutions and customer-centric services sets its apart among competitors in Asia’s rapidly evolving fintech landscape. The recognition comes at a meaningful moment, as Tiger Brokers celebrates its 10th anniversary this year. Since the launch of its flagship platform Tiger Trade a decade ago, the company has been dedicated to transforming online brokerage with its innovative approach to global investing.

Today, Tiger Brokers serves over 10 million users worldwide with around US$40 billion in assets under custody(AUC) worldwide. Since its public listing on Nasdaq in 2019, Tiger Brokers has rapidly established a presence across Asia-Pacific, entering key markets including Singapore, Hong Kong, the US, Australia, and New Zealand to provide comprehensive global investment services.

Tiger Brokers now provides access to global stocks, ETFs, options, futures, U.S. Treasuries, structured notes, and funds, all within one integrated account. Tiger Trade updates its services bi-weekly to meet user needs. A notable recent enhancement is the introduction of 24-hour trading for over 9500 U.S. stocks and ETFs. This feature is particularly beneficial for investors in the Asia-Pacific region, as it allows them to integrate investing seamlessly with their daily routines. For options traders, Tiger has bolstered its derivatives trading capabilities with tools like an options screener, multi-leg options strategies, and options rolling, further solidifying its leadership in the derivatives market. Recently Tiger upgraded its Trade Feed feature, adding virtual trade-sharing accounts, allowing users to track the trades of prominent figures like Warren Buffett and Nancy Pelosi.

The cash management tool “Tiger Vault” continues to attract clients with its low entry barrier, stable returns, and high flexibility. By selecting multiple high-quality public funds from global markets that meet criteria for stable returns, low risk, and high liquidity, Tiger Vault offers investors an expected annual yield of 5% on idle account funds.

The integrated investment experience of Tiger Trade, combining market data, news, investor education, trading, and wealth management, has become its unique competitive edge, helping the platform to maintain a high customer retention rate of 98%. The platform also introduced TigerGPT, the industry’s first AI investment assistant developed among Tiger Brokers’ vast internet services. This tool streamlines market research and boosts efficiency in pre-investment preparation, saving investors valuable time.

In addition to retail brokerage, Tiger Brokers has also successfully expanded into wealth management, institutional brokerage, investment banking, and corporate services, creating a strong business ecosystem to serve a broad range of clients.

To compile the 60 Fintech Innovators Asia 2024 list, Fortune gathered data from more than 300 companies and evaluated them across multiple criteria, including innovation, use of advanced technologies, financial performance, market impact, scalability, regulatory compliance, security measures, and unique features deployed to improve the lives of consumers.

Commenting on this outstanding result, founder and CEO of Tiger Brokers, Wu Tianhua said, “We are honored to gain recognition by such a well-regarded publication. This accolades not only affirms Tiger’s commitment to fintech innovation but also serves as a testament to our team’s dedication. We started with a simple vision – to create an intuitive product that supports seamless global asset allocation, enhancing the investment experience for everyone. Tiger Trade has been pivotal in its rapid rise within the Asia-Pacific market. Moving forward, we remain committed to offering a broader range of investment options and exceptional trading experiences, continuously creating value for both retail and institutional clients.”

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SOURCE Tiger Brokers

Technology

Max Stock Limited Announces Change in Shares Held by an Interested Party

Published

3 hours ago

November 24, 2024

CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

Technology

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

7 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

SOURCE Wahed

Technology

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

7 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

For more information, visit: www.wahed.com

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