--- title: "Tiger, Futu surge overseas after Beijing clampdown strips mainland growth engine" type: "News" locale: "en" url: "https://longbridge.com/en/news/297253483.md" description: "Tiger Brokers and Futu Holdings reported strong Q2 growth, driven by overseas expansion after Beijing cracked down on their mainland China operations. Tiger's revenue rose 31.4% to US$182.3 million, while Futu's revenue increased 35.6%. Both firms shifted focus to Southeast Asia, North America, and Europe, securing new licenses in Thailand and expanding product offerings to offset the loss of mainland accounts following regulatory fines and operational restrictions." datetime: "2026-08-28T02:03:20.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/297253483.md) - [en](https://longbridge.com/en/news/297253483.md) - [zh-HK](https://longbridge.com/zh-HK/news/297253483.md) generator: "portal-rs" --- # Tiger, Futu surge overseas after Beijing clampdown strips mainland growth engine Tiger Brokers and Futu Holdings, two of the region’s largest online brokerages, posted robust second-quarter growth as they expanded overseas to absorb Beijing’s toughest crackdown yet on illegal cross-border stock trading. UP Fintech Holding, parent of Tiger Brokers, reported on Wednesday that revenue rose 31.4 per cent year on year to a record US$182.3 million. Net income attributable to shareholders, however, slipped to US$39.4 million from US$41.4 million a year earlier. Chairman and CEO Wu Tianhua said the “great majority” of the 32,600 new funded accounts in the quarter came from Singapore and Hong Kong, lifting total accounts 10.3 per cent year on year to 1.32 million. Client assets also climbed 16.7 per cent to US$60.7 billion. “To streamline users’ compliance procedures and reduce tax declaration complexities, we rolled out a dedicated tax reporting tool under our Hong Kong, Singapore and New Zealand regulatory licences,” Wu said in an exchange filing, adding that Tiger also rolled out fractional share trading for Singapore-listed stocks and index options trading in Hong Kong. Hong Kong client assets grew almost 30 per cent quarter on quarter after Tiger stepped up offline client-acquisition campaigns, while assets in the US jumped nearly 50 per cent and those in Australia and New Zealand rose more than 30 per cent. Futu, which reported last week, posted revenue of HK$7.2 billion (US$918 million), up 35.6 per cent, and net income attributable to the shareholders of HK$3.64 billion, up 41.6 per cent. Funded accounts expanded 33.6 per cent to 3.84 million, led for a third straight quarter by Malaysia, with Hong Kong and Singapore also among the top contributors. The strong results come two months after mainland Chinese authorities escalated a long-running campaign against unlicensed cross-border brokerages to root out illegal securities activity and curb unauthorised capital outflows. On May 22, the China Securities Regulatory Commission fined Tiger, Futu and Longbridge Securities a combined 2.2 billion yuan (US$327 million) and ordered a two-year wind-down of remaining mainland operations. Mainland accounts have been barred from making new purchases or deposits since June 12. Stripped of their original growth engine, Tiger and Futu have restructured their business models to capture retail investors across Southeast Asia, North America and Europe. In July, Futu obtained a licence from Thailand’s securities regulator to launch its Moomoo platform, extending an overseas footprint that already spans Hong Kong, Singapore and Malaysia. The brokerage also broadened its global product suite, launching prediction markets in the US in June and securing regulatory approval in Hong Kong for a virtual-asset financing service through its proprietary platform PantherTrade, according to its earnings statement. Disclosures made earlier this year showed that mainland Chinese investors made up about 13 per cent of Futu’s funded accounts as of the first quarter, while Tiger reported mainland assets comprised roughly 10 per cent of its total at the end of last year. Neither brokerage disclosed updated metrics on mainland account exposure in their latest earnings statements. ### Related Stocks - [FUTU.US](https://longbridge.com/en/quote/FUTU.US.md) - [TIGR.US](https://longbridge.com/en/quote/TIGR.US.md) - [FUTG.US](https://longbridge.com/en/quote/FUTG.US.md) - [03588.HK](https://longbridge.com/en/quote/03588.HK.md) ## Related News & Research - [Moomoo Launches Massive OOH Campaign in NYC to Highlight New "Moomoo Engine" | FUTU Stock News](https://longbridge.com/en/news/297673034.md) - [TIGR: Q2 revenue and profit hit record highs as global client assets and new accounts surged](https://longbridge.com/en/news/297062537.md) - [UP Fintech Non-GAAP EPADS of $0.23, revenue of $182.3M](https://longbridge.com/en/news/297007734.md) - [Moomoo Partners with LPGA to Launch Futu Ladies World Championship in 2027 | FUTU Stock News](https://longbridge.com/en/news/297194352.md) - [Citi Expects Mainland Large Banks' Payout Ratios to Gradually Rise to Around 40%, Bullish on Re-rating Potential of HK-listed Chinese Banks](https://longbridge.com/en/news/297462423.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**