Openpals: Tiger Brokers Australia

In this series we’re talking to our clients to get their personal take on what they’re up to, where the industry’s going and things they’ve found along the way. We asked the Chief Strategy Officer of Tiger Brokers, Michael McCarthy about exciting recent developments and his forecast of the industry over the next few years. 

Tell us a little bit about Tiger Brokers and some of the recent developments you've introduced.

Tiger Brokers is putting the power of trading back into the hands of everyday Aussies through its powerful trading app -Tiger Trade. The app encompasses in-depth analytics and global trading to provide users with information and access to the Australian, US and Hong Kong markets.  Aussies can trade AU, US and HK stocks, ETFs and US Options. Offering competitive brokerage fees and commissions, the aim is to make trading and investing affordable for all Australians.

We also have a social trading platform allowing investors to connect with each other and share insights, ask questions and anything else they want to explore when it comes to investing and trading.

With regards to developments, there are a few things the team is working on. We’re releasing a newer version of the app soon and this will include features like a customisable dashboard. The app will also have a much cleaner design and allow users to customise the app according to their investment habits or investment stage. Users will be able to customise the Overview Screen of the symbol page to assist them when making trading decisions

Other developments for the app will include new macro data such as exchange rates and treasury yields for a comprehensive analysis of market trends.  Our team are always innovating and taking onboard client feedback to make the app user friendly and bring clients the best features to make trading and investing accessible and easy to understand.

Another very important development is we’re providing an institutional-grade of analytics and company data suitable for equity investors at all levels. That includes:

  • Having reliable company analytics and information required for both fundamental and technical investors: Top major shareholders, pattern recognition, comprehensive stock filters, company revenue compositions and many others.
  • Direct access to US local insights: Break down the information barrier stopping AU investors to tap into the US market, including pre and post US market pricing.

These are some of the pain points for Australian investors when investing in overseas markets and this will give them a real understanding of their investment.

What do you think will happen in the industry over the next few years? What big trends or changes do you foresee?

Pricing must become more rational across both execution and advice. Customers must receive value for their activity, and providers must be able to make a profit. The high cost of financial advice, and its scarcity as regulatory requirements are ratcheted higher, is a looming disaster for individual investors. Regulators also flagged concerns about the potential for "payment for order flow" revenue models to conflict with requirements to provide the best execution to clients. These issues must be resolved to ensure the long-term health of the securities industry.

The biggest immediate question revolves around the influx of newer investors and traders over the last two years. Is the newfound dominance of retail investors a temporary or permanent change to the investment landscape?

What keeps you up at night? What do you worry about in the industry?

Fed announcements, inflation reads, European share market volatility, company reporting, US volatility - these are the sorts of things that keep me awake at night!

Why did you choose Openmarkets? What do you like about its people and its tools (not the same thing...)?

Openmarkets is one of the most technological backed service providers in the marketplace and is backed by a team of experienced people with a great track record of successfully running the business. By partnering with Openmarkets, we confirmed that we are being looked after by the right people.

What are you most proud of at Tiger Brokers?

Our technology. The commitment to innovation and best practice not only means the Tiger Trade app is top of market, but it will also stay at the cutting edge as it evolves.

Tell us an unexpected fact about yourself.

Despite my youthful looks, I'm about to become a grandfather for the first time!

What few words of advice would you give your 25-year-old self if you were starting in the industry now?

Study the power of compounding returns!

Please note, this blog is a guest interview and views expressed are those of the interviewee and not Openmarkets.

Hold on a sec! You should consider whether any advice on our website is right for you or your clients. We don’t accept any responsibility for the accuracy any information, opinions, or predictions we’ve provided, and we obviously haven’t taken you or your clients’ personal financial situation into account. Just a heads-up.

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