Hong Kong consumer fintech firm 8 Securities has revealed an 1,100% rise in executed stock trades and a 700% increase in turnover compared with the same period last year, following the launch of free trading in April 2016. The company said that it had processed more than $120 million worth of transactions since its launch, which was also reported by local media. "We believe the combination of zero commission, low margin lending rates and a new mobile app built for speed will be extremely attractive to active traders," said COO Ken Ng.
Hong Kong consumer fintech firm 8 Securities has revealed an 1,100% rise in executed stock trades and a 700% increase in turnover compared with the same period last year, following the launch of free trading in April 2016. 8 Securities uses smart technology to reduce trading costs to the bare minimum and said it will earn revenue with offers of margin lending to its experienced traders. "We believe the combination of zero commission, low margin lending rates and a new mobile app built for speed will be extremely attractive to active traders," said COO Ken Ng.