As more new users sign on to commission-free trading apps, are more of them buying Bitcoin?
FM
Robinhood--and other user-friendly, commission-free trading applications--have seemingly seen a massive uptick in new users since the coronavirus began.
Robinhood in particular reported in early May that its user count had passed the 13-million-mark. Previously, Robinhood reported that it had achieved 10 million users in December of 2019; prior to that, Robinhood reported that it had 3 million users in February of 2018, 6 million users in October of 2018, and then 10 million users in December of 2019.
Robinhood increased its user count by 241.67% from January to June
In other words, from February of 2018 until the beginning of December of 2019, Robinhood increased its user count by an average of roughly 330,000 new users per month. From the remainder of December 2019 until June of 2020, however, more than 3 million new users were added to the platform--an increase to nearly 500,000 new users per month.
While Robinhood hasn’t released any official data on how many new users came during or after the month of March, when quarantines and widespread global panic began to rise. However, Haider Rafique, chief marketing officer at cryptocurrency exchange OKCoin, pointed out to Finance Magnates that there was a massive uptick in website traffic to Robinhood’s home page.
Haider Rafique, chief marketing officer at OKCoin.
Indeed, according to data from SimilarWeb, the total number of visits on Robinhood’s website was steadily increasing in the months prior to the global outbreak of COVID-19, from 9.6 million in December, to 12.8 million in January, to 15.6 million in February--an average increase of roughly 3 million new page views per month.
However, in March, the number of page views skyrocketed to 29.7 million--an increase of 14.1 million new pageviews. In April and May, the surge leveled off at roughly 32.8 million page views per month, representing a 241.67% increase from December to May.
eToro, Webull also saw impressive growth in site traffic, new users
This surge in new users and website traffic certainly wasn’t unique to Robinhood, although Robinhood may have seen the largest surge in new users during the COVID-19 outbreak.
Social trading platform eToro (which also offers commission-free trading) also reported an increase to 13 million users in May of 2020; eToro previously reported having surpassed 12 million users in December of 2019.
Yoni Assia, founder and chief executive of eToro, told Finance Magnates that "on eToro, we have seen a 400% increase globally in new users coming to eToro and investing for the first time in the first 4 months of 2020 compared with the same period last year," according to new investor data that was accurate as of 11 May 2020.
eToro’s website traffic also saw a bump during the pandemic, from an average of roughly 12.7 million page views from December to February to an average of 20.1 million page views from March to May; from December to May, the number of page views increased by 97.09%.
Webull, another commission-free trading app, has not published data on the number of users it has onboarded since the pandemic. However, its website traffic has also surged considerably, from an average of 1.1 million page views per month to an average of 2.9 million page views per month. From December to May, the number of page views increased by roughly 294.12%.
Yoni Assia, founder and CEO of eToro.
Clement Thibault, an industry consultant with SimilarWeb, told Business Insider last week that “Webull’s growth mirrors Robinhood’s growth since the beginning of the year...Of course in terms of absolute numbers, Webull pales in comparison to the estimated 32 million visits Robinhood had in April 2020, but that’s pretty good company to be in if what you’re looking for is strong growth.”
New users skew towards millennials, may be "really bad at portfolio diversification"
Who exactly are these new users and what are they investing in?
There is some evidence to suggest that the groups of new users on these platforms--Robinhood, in particular--may be mostly compromised of millennials and GenZers; after all, Robinhood is renowned for its beloved status with today’s young adults.
Similarly, eToro's Yoni Assia told Finance Magnates that "currently, half of eToro’s customers holding crypto positions are under 35," according to data from June 9th, 2020.
However, it may also be that most of Robinhood’s users are ‘dabblers’ more than they are experienced and serious traders--in December, The Next Web reported that “Robinhood users are really bad at portfolio diversification”: that “ the average Robinhood user owns stocks in [just] two different publicly listed companies or ETFs.”
The publication also found that the technology, consumer cyclical, and healthcare sectors accounted for 67% of all stock holdings on Robinhood, meaning that “sector-wise Robinhood seems much less diversified than the market in general. Overexposure in one particular sector, in this case, tech, obviously poses risks.” Users also showed favor toward smaller-cap companies.
More recently, Business Insider India reported that “Robinhood traders are piling into Hertz, JCPenney, and other bankruptcy stocks despite the massive risks.”
Beating Buffet at his own game?
It’s possible that Robinhood’s millennial user base is taking a leaf from Warren Buffet’s book--being greedy when others are fearful.
Max Keiser, broadcaster and renowned Bitcoin bull, pointed this out in a tweet aimed at skewering Buffet earlier this week--specifically, Keiser pointed out the irony of Buffet’s law of fear and greed when it came to Berkshire Hathaway’s decision to sell all of its airline stock at a huge loss at the start of the COVID-19 pandemic.
Indeed, Markets Insider reported that Delta Air Lines was the fifth most popular stock on Robinhood in May.
“The airline operator was owned by 540,543 users at the end of May, compared to 426,267 users in the prior month,” the publication said. “The 27% jump in Robinhood accounts that own the stock was accompanied with a 3% decline in Delta's stock price in May, signaling that investors are buying the dip in Delta.”
Keiser suggested that, just as the original Robinhood stole from the rich to give to the poor, “Robinhood App users stole Warren Buffett’s money (his recent, huge airline losses), by buying up airline stocks during the crash - and creating wealth for poor Gen Z kids.”
Robinhood App users stole Warren Buffett’s money (his recent, huge airline losses), by buying up airline stocks during the crash - and creating wealth for poor Gen Z kids.
— Max Keiser: OVERDOSE (@realmaxkeiser) June 8, 2020
Keiser further suggested that Robinhood’s users are taking the money that they’ve earned from airline stocks and investing it into cryptocurrency: “[they’re] picking over Warren Buffett’s career corpse; booking huge profits on his mistimed stock sales, and then rolling that money into Bitcoin.”
Millennials skew further towards Bitcoin than their predecessors
However, Kyle Kroeger, founder of Financial Wolves, told Finance Magnates that “there is limited data to suggest” that Robinhood users are putting their cash into Bitcoin--at least, not to the point that Bitcoin is affected in a significant way.
“Robinhood is made up of predominately retail investors and by that volume, there is little evidence that could move the needle,” Kroeger explained. “Institutional and high-frequency trading will always have a much greater impact [on Bitcoin] than retail trading.”
Still, Robinhood and similar trading apps could act as a sort of ‘gateway’ into cryptocurrency for first-time investors: Kroeger said that Robinhood’s millennial and GenZ user base “certainly have a more open mind when it comes to financial technology.“
"Cryptoassets have been growing in popularity amongst younger investors."
Indeed, eToro's Yoni Assia told Finance Magnates that "cryptoassets have been growing in popularity amongst younger investors. In 2019 those under the age of 35 became the leading demographic group to invest in crypto on eToro globally," according to millennial data that was accurate as of 20 February 2020.
OKCoin’s Haider Rafique also told Finance Magnates that OKCoin’s user base also skews towards millennials. “According to our data and analysis, ~50% of our users are typically millennials between the ages of 25-40. Out of those ages, 25-34 make up the majority (about 40%) of the users we attract on our platform.”
“OKCoin is also popular among GenZ,” he added. “~20% of our active users are between ages 18-24. Additionally, “about 8% of our users are between ages 45-54; 6% are between 55-64, and 4.5% are above age 65.”
“Because bitcoin is purely digital and a dramatic shift in thinking in how we conceptualize ‘money’, naturally the younger segments [of the population] have an easier time onboarding, whereas older generations are still either skeptical or intimidated by the deemed technical know-how,” he said.
Apps like Robinhood may not be a gateway into crypto, but they could be gateways into investing more broadly
However, even if apps like Robinhood aren’t necessarily acting as a ‘gateway’ into crypto, however, it seems that they are acting as another kind of gateway--for many people in younger generations, Robinhood, eToro, and other apps act as a passage into investing in financial markets for the first time.
eToro's Yoni Assia told Finance Magnates that indeed, "online investment apps like eToro have opened up access to global financial markets."
By offering fractional, commission-free stocks, platforms like eToro have encouraged the younger generations to invest and we have seen them buy into the companies whose services or products they know and use. We’ve especially seen them crowd into technology-related stocks such as Amazon and Netflix.'
OKCoin'sHaider Rafique also said that “in some ways, [these apps] have played a massive role by making ‘equities and stocks’ more accessible by creating an easy (less intimidating way) for younger users to participate in the traditional stock market."
Indeed, more broadly, “the FinTech and crypto revolution has made everyone aware of the need to take responsibility for their financial future, and now much more financial instruments are available to them, not just those with a certain net worth.”
Robinhood--and other user-friendly, commission-free trading applications--have seemingly seen a massive uptick in new users since the coronavirus began.
Robinhood in particular reported in early May that its user count had passed the 13-million-mark. Previously, Robinhood reported that it had achieved 10 million users in December of 2019; prior to that, Robinhood reported that it had 3 million users in February of 2018, 6 million users in October of 2018, and then 10 million users in December of 2019.
Robinhood increased its user count by 241.67% from January to June
In other words, from February of 2018 until the beginning of December of 2019, Robinhood increased its user count by an average of roughly 330,000 new users per month. From the remainder of December 2019 until June of 2020, however, more than 3 million new users were added to the platform--an increase to nearly 500,000 new users per month.
While Robinhood hasn’t released any official data on how many new users came during or after the month of March, when quarantines and widespread global panic began to rise. However, Haider Rafique, chief marketing officer at cryptocurrency exchange OKCoin, pointed out to Finance Magnates that there was a massive uptick in website traffic to Robinhood’s home page.
Haider Rafique, chief marketing officer at OKCoin.
Indeed, according to data from SimilarWeb, the total number of visits on Robinhood’s website was steadily increasing in the months prior to the global outbreak of COVID-19, from 9.6 million in December, to 12.8 million in January, to 15.6 million in February--an average increase of roughly 3 million new page views per month.
However, in March, the number of page views skyrocketed to 29.7 million--an increase of 14.1 million new pageviews. In April and May, the surge leveled off at roughly 32.8 million page views per month, representing a 241.67% increase from December to May.
eToro, Webull also saw impressive growth in site traffic, new users
This surge in new users and website traffic certainly wasn’t unique to Robinhood, although Robinhood may have seen the largest surge in new users during the COVID-19 outbreak.
Social trading platform eToro (which also offers commission-free trading) also reported an increase to 13 million users in May of 2020; eToro previously reported having surpassed 12 million users in December of 2019.
Yoni Assia, founder and chief executive of eToro, told Finance Magnates that "on eToro, we have seen a 400% increase globally in new users coming to eToro and investing for the first time in the first 4 months of 2020 compared with the same period last year," according to new investor data that was accurate as of 11 May 2020.
eToro’s website traffic also saw a bump during the pandemic, from an average of roughly 12.7 million page views from December to February to an average of 20.1 million page views from March to May; from December to May, the number of page views increased by 97.09%.
Webull, another commission-free trading app, has not published data on the number of users it has onboarded since the pandemic. However, its website traffic has also surged considerably, from an average of 1.1 million page views per month to an average of 2.9 million page views per month. From December to May, the number of page views increased by roughly 294.12%.
Yoni Assia, founder and CEO of eToro.
Clement Thibault, an industry consultant with SimilarWeb, told Business Insider last week that “Webull’s growth mirrors Robinhood’s growth since the beginning of the year...Of course in terms of absolute numbers, Webull pales in comparison to the estimated 32 million visits Robinhood had in April 2020, but that’s pretty good company to be in if what you’re looking for is strong growth.”
New users skew towards millennials, may be "really bad at portfolio diversification"
Who exactly are these new users and what are they investing in?
There is some evidence to suggest that the groups of new users on these platforms--Robinhood, in particular--may be mostly compromised of millennials and GenZers; after all, Robinhood is renowned for its beloved status with today’s young adults.
Similarly, eToro's Yoni Assia told Finance Magnates that "currently, half of eToro’s customers holding crypto positions are under 35," according to data from June 9th, 2020.
However, it may also be that most of Robinhood’s users are ‘dabblers’ more than they are experienced and serious traders--in December, The Next Web reported that “Robinhood users are really bad at portfolio diversification”: that “ the average Robinhood user owns stocks in [just] two different publicly listed companies or ETFs.”
The publication also found that the technology, consumer cyclical, and healthcare sectors accounted for 67% of all stock holdings on Robinhood, meaning that “sector-wise Robinhood seems much less diversified than the market in general. Overexposure in one particular sector, in this case, tech, obviously poses risks.” Users also showed favor toward smaller-cap companies.
More recently, Business Insider India reported that “Robinhood traders are piling into Hertz, JCPenney, and other bankruptcy stocks despite the massive risks.”
Beating Buffet at his own game?
It’s possible that Robinhood’s millennial user base is taking a leaf from Warren Buffet’s book--being greedy when others are fearful.
Max Keiser, broadcaster and renowned Bitcoin bull, pointed this out in a tweet aimed at skewering Buffet earlier this week--specifically, Keiser pointed out the irony of Buffet’s law of fear and greed when it came to Berkshire Hathaway’s decision to sell all of its airline stock at a huge loss at the start of the COVID-19 pandemic.
Indeed, Markets Insider reported that Delta Air Lines was the fifth most popular stock on Robinhood in May.
“The airline operator was owned by 540,543 users at the end of May, compared to 426,267 users in the prior month,” the publication said. “The 27% jump in Robinhood accounts that own the stock was accompanied with a 3% decline in Delta's stock price in May, signaling that investors are buying the dip in Delta.”
Keiser suggested that, just as the original Robinhood stole from the rich to give to the poor, “Robinhood App users stole Warren Buffett’s money (his recent, huge airline losses), by buying up airline stocks during the crash - and creating wealth for poor Gen Z kids.”
Robinhood App users stole Warren Buffett’s money (his recent, huge airline losses), by buying up airline stocks during the crash - and creating wealth for poor Gen Z kids.
— Max Keiser: OVERDOSE (@realmaxkeiser) June 8, 2020
Keiser further suggested that Robinhood’s users are taking the money that they’ve earned from airline stocks and investing it into cryptocurrency: “[they’re] picking over Warren Buffett’s career corpse; booking huge profits on his mistimed stock sales, and then rolling that money into Bitcoin.”
Millennials skew further towards Bitcoin than their predecessors
However, Kyle Kroeger, founder of Financial Wolves, told Finance Magnates that “there is limited data to suggest” that Robinhood users are putting their cash into Bitcoin--at least, not to the point that Bitcoin is affected in a significant way.
“Robinhood is made up of predominately retail investors and by that volume, there is little evidence that could move the needle,” Kroeger explained. “Institutional and high-frequency trading will always have a much greater impact [on Bitcoin] than retail trading.”
Still, Robinhood and similar trading apps could act as a sort of ‘gateway’ into cryptocurrency for first-time investors: Kroeger said that Robinhood’s millennial and GenZ user base “certainly have a more open mind when it comes to financial technology.“
"Cryptoassets have been growing in popularity amongst younger investors."
Indeed, eToro's Yoni Assia told Finance Magnates that "cryptoassets have been growing in popularity amongst younger investors. In 2019 those under the age of 35 became the leading demographic group to invest in crypto on eToro globally," according to millennial data that was accurate as of 20 February 2020.
OKCoin’s Haider Rafique also told Finance Magnates that OKCoin’s user base also skews towards millennials. “According to our data and analysis, ~50% of our users are typically millennials between the ages of 25-40. Out of those ages, 25-34 make up the majority (about 40%) of the users we attract on our platform.”
“OKCoin is also popular among GenZ,” he added. “~20% of our active users are between ages 18-24. Additionally, “about 8% of our users are between ages 45-54; 6% are between 55-64, and 4.5% are above age 65.”
“Because bitcoin is purely digital and a dramatic shift in thinking in how we conceptualize ‘money’, naturally the younger segments [of the population] have an easier time onboarding, whereas older generations are still either skeptical or intimidated by the deemed technical know-how,” he said.
Apps like Robinhood may not be a gateway into crypto, but they could be gateways into investing more broadly
However, even if apps like Robinhood aren’t necessarily acting as a ‘gateway’ into crypto, however, it seems that they are acting as another kind of gateway--for many people in younger generations, Robinhood, eToro, and other apps act as a passage into investing in financial markets for the first time.
eToro's Yoni Assia told Finance Magnates that indeed, "online investment apps like eToro have opened up access to global financial markets."
By offering fractional, commission-free stocks, platforms like eToro have encouraged the younger generations to invest and we have seen them buy into the companies whose services or products they know and use. We’ve especially seen them crowd into technology-related stocks such as Amazon and Netflix.'
OKCoin'sHaider Rafique also said that “in some ways, [these apps] have played a massive role by making ‘equities and stocks’ more accessible by creating an easy (less intimidating way) for younger users to participate in the traditional stock market."
Indeed, more broadly, “the FinTech and crypto revolution has made everyone aware of the need to take responsibility for their financial future, and now much more financial instruments are available to them, not just those with a certain net worth.”
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Schwab Aims Crypto Custody at Its $5 Trillion Advisor Channel by 2027
Featured Videos
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate