UP Fintech reports an increase of 23.5% YoY in Q2 2023 revenue, reaching $66.1 million.
The company's non-GAAP profit soars to $15.3 million, marking a two-year record high.
Tiger Brokers
After solid results for Q1 2023, UP Fintech Holding Limited (NASDAQ: TIGR), a prominent online brokerage firm and the Tiger Brokers trading brand operator, presented nearly identical revenues for Q2. The results may have been influenced, among other factors, by the April launch of TigerGPT, the industry's first AI investment assistant.
UP Fintech Announces
Financial Results for Q2 2023
UP
Fintech's revenue and profit have seen substantial growth driven by global
expansion and a focus on fintech innovation. The company's revenue for the
quarter reached $66.1 million, showing an increase of 23.5% compared to the previous
year. The results coincided with the results from the previous quarter when
revenues totaled $66.3 million. Additionally, UP Fintech's non-GAAP profit
surged to $15.3 million, setting a two-year record high.
"The
second quarter marked a period of gradual recovery in the overall market, and
UP Fintech's performance mirrored this trend," Wu Tianhua, the CEO and Founder
of UP Fintech, commented. "Our revenue remained stable and showed
encouraging improvement, culminating in a double-digit growth year-over-year.
The non-GAAP net profit's significant growth, surpassing the total of the
previous year, underscores our strong financial position."
The company
added 58,582 new customer accounts during the quarter, bringing its global
portfolio to 2.12 million. Furthermore, the number of funded accounts rose 15% year-over-year (YoY), reaching 840,931.
The total
trading volume on UP Fintech's platform reached $65.1 billion, with $19.3
billion attributed to stock trading. The company also reported that clients
traded 7.76 million options and futures contracts. Customer assets increased 16.2% YoY, amounting to $17.3 billion. The quarterly net asset inflow was a
significant $1.6 billion, reflecting strong customer engagement and trust.
You can find the rest of the article under the infographic:
Source: Tiger Brokers
TigerGPT and Auto-Invest by
UP Fintech
In April,
the company introduced TigerGPT as the industry's first AI trading assistant,
an alternative to the AI chatbot ChatGPT. According to information shared by
Tiger Brokers with Finance Magnates, 11,000 traders achieved an accuracy
level of 81% four months after the service's launch during the tool's testing
phase. Now, the application is available to a broader audience.
Henry Toh,
the CFO at Tiger Brokers (Singapore), stated that the company recognizes AI's
vital role in the investment sector and developed TigerGPT to revolutionize the
investor experience on a larger scale. As reported by Finance Magnates, ChatGPT has garnered widespread praise in recent times for its performance.
In related
news, Tiger Brokers has rolled out an automatic investment plan (AIP) for Hong
Kong stocks via its main platform, Tiger Trade. This feature allows global
investors to trade weekly, bi-weekly, or monthly, starting from a minimum of
HKD 500. The new addition aims to help investors navigate market volatility and
complements the existing AIP for U.S. stocks.
"As
for product innovation, the second quarter saw the significant launch of our
Hong Kong stock AIP (automatic investment plan). This positions Tiger Trade as
one of the few platforms offering the AIP feature in both Hong Kong and U.S.
stocks. By enabling small-amount investors to access high-priced stocks of
premium companies, we have further democratized investment opportunities and
broadened our reach," Tianhua concluded.
However,
the company faced a minor setback in Q2 when the New Zealand Financial Markets
Authority fined them $900,000 for violating the Anti-Money Laundering and
Countering Financing of Terrorism (AML/CFT) Act.
After solid results for Q1 2023, UP Fintech Holding Limited (NASDAQ: TIGR), a prominent online brokerage firm and the Tiger Brokers trading brand operator, presented nearly identical revenues for Q2. The results may have been influenced, among other factors, by the April launch of TigerGPT, the industry's first AI investment assistant.
UP Fintech Announces
Financial Results for Q2 2023
UP
Fintech's revenue and profit have seen substantial growth driven by global
expansion and a focus on fintech innovation. The company's revenue for the
quarter reached $66.1 million, showing an increase of 23.5% compared to the previous
year. The results coincided with the results from the previous quarter when
revenues totaled $66.3 million. Additionally, UP Fintech's non-GAAP profit
surged to $15.3 million, setting a two-year record high.
"The
second quarter marked a period of gradual recovery in the overall market, and
UP Fintech's performance mirrored this trend," Wu Tianhua, the CEO and Founder
of UP Fintech, commented. "Our revenue remained stable and showed
encouraging improvement, culminating in a double-digit growth year-over-year.
The non-GAAP net profit's significant growth, surpassing the total of the
previous year, underscores our strong financial position."
The company
added 58,582 new customer accounts during the quarter, bringing its global
portfolio to 2.12 million. Furthermore, the number of funded accounts rose 15% year-over-year (YoY), reaching 840,931.
The total
trading volume on UP Fintech's platform reached $65.1 billion, with $19.3
billion attributed to stock trading. The company also reported that clients
traded 7.76 million options and futures contracts. Customer assets increased 16.2% YoY, amounting to $17.3 billion. The quarterly net asset inflow was a
significant $1.6 billion, reflecting strong customer engagement and trust.
You can find the rest of the article under the infographic:
Source: Tiger Brokers
TigerGPT and Auto-Invest by
UP Fintech
In April,
the company introduced TigerGPT as the industry's first AI trading assistant,
an alternative to the AI chatbot ChatGPT. According to information shared by
Tiger Brokers with Finance Magnates, 11,000 traders achieved an accuracy
level of 81% four months after the service's launch during the tool's testing
phase. Now, the application is available to a broader audience.
Henry Toh,
the CFO at Tiger Brokers (Singapore), stated that the company recognizes AI's
vital role in the investment sector and developed TigerGPT to revolutionize the
investor experience on a larger scale. As reported by Finance Magnates, ChatGPT has garnered widespread praise in recent times for its performance.
In related
news, Tiger Brokers has rolled out an automatic investment plan (AIP) for Hong
Kong stocks via its main platform, Tiger Trade. This feature allows global
investors to trade weekly, bi-weekly, or monthly, starting from a minimum of
HKD 500. The new addition aims to help investors navigate market volatility and
complements the existing AIP for U.S. stocks.
"As
for product innovation, the second quarter saw the significant launch of our
Hong Kong stock AIP (automatic investment plan). This positions Tiger Trade as
one of the few platforms offering the AIP feature in both Hong Kong and U.S.
stocks. By enabling small-amount investors to access high-priced stocks of
premium companies, we have further democratized investment opportunities and
broadened our reach," Tianhua concluded.
However,
the company faced a minor setback in Q2 when the New Zealand Financial Markets
Authority fined them $900,000 for violating the Anti-Money Laundering and
Countering Financing of Terrorism (AML/CFT) Act.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
CFD Broker RA Prime Joins Financial Commission for Dispute Resolution Support
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
