Owner of online-trading platform Tiger Brokers plans to raise up to $150 million in IPO https://www.wsj.com/articles/a-chinese-brokerage-for-u-s-stocks-seeks-a-nasdaq-listing-11551097337
What's the edge of this broker over Interactive Brokers? Why can't Chinese residents use IB to buy U.S stocks, given the low fees?
Could be the handholding and their mobile platform appears to look a bit more advanced. Also, as I'm sure you know consumers are not always rational. Plenty in US use uncompetitive brokers and outside US some use bucket shops registered on some island with no regulation.
I think that refers to financial backing, they're not introducing for IB like others around the world. Founded in June 2014, Tiger Brokers is an online stock brokerage startup backed by Interactive Brokers Group Inc, Xiaomi Inc, ZhenFund and Wall Street investment guru Jim Rogers.
Most likely the same reason we have multiple platforms per broker, and many brokers to choose from. Have they released their symbol ?
Tiger was banned from Taiwan's SEC to solicit its business. but i know many people in Taiwan and China open their brokerage accts at IB, which has simplified Chinese web site version. Here in Taiwan, many local brokers offer services to buy US stocks, but the platform and the commission are far from acceptable.
Can't find the commission fees on the website. If the fees are not prominent, probably it's not a selling point. I bet IB offers lower fees.
Why would IB finance its competitor? I see also that Tiger Brokers mentions TWS as one of their platforms.