Chinese Robinhood rivals set for stock gains on global expansion

on Apr15
by | Comments Off on Chinese Robinhood rivals set for stock gains on global expansion |

Traders on the floor of the New York Stock Exchange.

Source: NYSE

BEIJING — Chinese-run stock trading apps are riding a surge of global interest in day trading, as competition grows for Robinhood.

Futu and Tiger Brokers, both listed in the U.S., launched a few years ago as apps allowing Chinese users to trade U.S. or Hong Kong stocks. Now both are forecasting hundreds of thousands of new users this year — mostly from outside China.

From the GameStop stock trading frenzy earlier this year to digital currency exchange Coinbase’s listing Wednesday, individuals are increasingly interested in playing capital markets, which are now easily accessible through a variety of mobile apps.

Here’s how much analysts expect the Chinese players in this industry to climb.



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