Most of Tiger's customers are overseas, in Singapore ☺️ and Hong Kong
$UP Fintech (TIGR.US)$ Peking time, October 28, in response to media reports on the scope of cross-border brokerage business issues, $Tiger Securities (TIGR)$ stated that the group has always regarded legal and compliant operation as the lifeline. Currently, more than 80% of the incremental deposit customers come from overseas. The company will actively communicate with global regulatory agencies, adhere to compliance requirements, and comply with various levels of regulatory requirements. It is stated that Tiger Securities operates in the same business model as other U.S., China, and Hong Kong brokerages, strictly complying with regulatory requirements around the world, without any legal compliance changes and innovations, just enhancing user experience through Chinese technology. Currently, the group holds securities licenses in multiple locations such as Peking Hong Kong, Singapore, New Zealand, Australia, and the USA, always strictly adhering to relevant regulatory requirements to safeguard customer assets.
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Elephant In The Room : There are chicken & duck statements/claims here by the Brokerages & the dude from the central bank official was saying; the latter said: " one company, registered in the Cayman Islands, received 80% of its funds from mainland China, while another Hong Kong-based company received 55%. He didn’t name the firms."
The Brokerages on the hand was saying "80% of the increased funding or accounts" was from overseas.
So, who's telling the truth?
T将军 : Now the news is flying all over the sky. How can I hear that Tiger is mainly 70-80% of the Chinese market, and Futu is 55%. Who should I trust![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Stunfisk 2828282828282828 : Yes , all this while i aldy suspested the culprits are those from the competitors...They will be happy to kill Futu and Tiger.