Tiger Securities has announced a significant upgrade to its license, approved by the Securities and Futures Commission (SFC), enabling the extension of its virtual asset trading services to retail investors in Hong Kong. Through the Tiger Trade platform, all retail investors in Hong Kong can now trade Bitcoin (BTC) and Ethereum (ETH) at low costs.
Convenient Trading Experience for Investors
According to John Zeng, Chief Financial Officer of Tiger International, there is growing interest among investors in virtual asset investments. Many investors hold not only virtual assets but also traditional securities like stocks and funds in their portfolios. He emphasized that using a single mobile application for both traditional financial securities and virtual assets simplifies the process by eliminating the need for multiple accounts across different platforms. This integration also enhances capital efficiency—for instance, clients can sell virtual assets and immediately open positions in securities during major market events, allowing them to seize opportunities promptly.
Zeng further highlighted that recent developments, including the SFC’s new regulations permitting licensed platforms to serve retail investors and Hong Kong’s emergence as Asia’s first market to launch spot Bitcoin and Ethereum ETFs in April, demonstrate the city’s commitment to supporting compliant and innovative development of diverse assets. As virtual asset trading becomes increasingly integrated into Hong Kong’s mainstream finance, it is expected to attract more international capital and investors. Tiger Securities, as a licensed broker in Hong Kong, pledges to adhere to strict regulatory standards, safeguard investor interests, and contribute to the healthy growth of the industry.
License Upgrade and Service Rollout
In January, Tiger Securities received an upgrade to its Type 1 license from the SFC, making it one of the first online brokers to achieve this milestone. The company initially opened virtual asset trading services to professional investors in early May and has now expanded its offering to include retail investors in Hong Kong. Notably, Tiger Securities applies the same fee structure for both retail and professional investors: a 0.2% commission on virtual asset trading volume, with no custody fees. Since virtual assets settle instantly, trading is available 24/7.
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Competitive Landscape and Industry Developments
Other brokerage firms are also venturing into virtual asset services. For example, Futu Securities has applied for an upgrade to its Type 1 license and is currently awaiting approval. Futu has been actively expanding its virtual asset business, recently investing HK$440 million in virtual bank Tianxing Bank, acquiring a 44.11% stake to become the second-largest shareholder.
Meanwhile, the 12-month licensing transition period for virtual asset trading platforms has concluded. The SFC updated its list of virtual asset trading platforms, including PantherTrade (under Futu), Bullish, and Crypto.com, among 11 others deemed licensed. However, the SFC clarified that all applicants on the list are not yet formally licensed and may not fully comply with regulatory requirements. No official licenses have been granted to these deemed licensed platforms.
Frequently Asked Questions
What virtual assets can I trade on Tiger Trade?
Currently, Tiger Trade supports Bitcoin (BTC) and Ethereum (ETH) trading for Hong Kong retail investors. The platform may expand its offerings based on market demand and regulatory approvals.
Are there any custody fees for holding virtual assets?
No, Tiger Securities exempts investors from custody fees for holding Bitcoin and Ethereum. The only charge is a 0.2% commission on each trade.
How does integrated trading benefit investors?
Integrated trading allows users to manage both traditional securities and virtual assets within a single app, streamlining account management and improving capital efficiency. Investors can quickly reallocate funds between asset classes to capitalize on market opportunities.
Is virtual asset trading available 24/7?
Yes, since virtual assets settle instantly, trading is accessible 24 hours a day, providing flexibility for investors across different time zones.
What regulatory safeguards are in place?
Tiger Securities operates under the SFC’s strict regulatory framework, ensuring compliance with investor protection standards. The platform prioritizes security and transparency in all its operations.
How does Hong Kong’s regulatory approach impact investors?
Hong Kong’s progressive regulations, including the approval of spot crypto ETFs and licensed trading services, enhance market credibility and attract global investors, fostering a healthier ecosystem for virtual asset growth.