Traders on the floor of the New York Stock Exchange- BEIJING- Global Stock Trading apps are riding a surge of Chinese interest in day trading, as competition grows for Robinhood.
Futu and Tiger Brokers, both launched as Chinese stocks in the U.S. a few years ago, were launched as companies that let Chinese users trade US stocks or Hong Kong stocks.
They predict hundreds of thousands of new users this year- mostly from outside China. From the GameStop stock trading frenzy earlier this year to the Cobase listing on Wednesday, people are increasingly interested in playing capital markets, which are now easily accessible via a variety of mobile apps.
Here is how much an analyst expects Chinese players in this industry to climb.