$UP Fintech (TIGR.US)$$Futu Holdings Ltd (FUTU.US)$ Futu Tig...
$UP Fintech (TIGR.US)$ $Futu Holdings Ltd (FUTU.US)$ Futu Tiger are cayman companies, overseas with legal and compliant licenses, zC supervision at most to cut off domestic customers, it is impossible to let foreign brokerages shut down. There must be an impact/risk in the short term. In the long run, Internet brokerages will be the earliest Chinese companies to achieve internationalization under this wave of ZC.
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xmomentx : If you have deposited your funds in these two brokerage, might as well buy the dip .. when you now invest in Tesla or Microsoft via these two brokerages, if these brokerage go bankrupt , your funds will be gone anyway even the stocks you bought gained a lot.
102076867 : No, your funds are under a custodian. It remains safe even if the brokerage goes bankrupt. Tiger’s custodian is DBS. I’m not so sure about moomoo’s custodian though.
tarotaro xmomentx : nah not really, its SIPC covered?
18038420 : Same, moomoo put funds at DBS
Jeremyx : US/HK stocks in both Tiger Brokers and MooMoo will be transferred to Interactive Brokers. SGX stocks will be transferred to DBS Vickers. Your stocks are under custodian.
Redeem 106 : FYI