Interactive Brokers sets eyes on Singapore

The global brokerage firm can now offer Singapore stocks to investors.

Global brokerage firm Interactive Brokers Group announced the addition of a Singapore entity, Interactive Brokers Singapore, and the opening of an office located in the Marina Bay Financial District.

With its expansion, Interactive Brokers can now offer Singapore stocks to investors in the country and directly market its extensive offerings, which include the ability to invest globally in stocks, options, futures, currencies, bonds, and funds from a single integrated investment account.

Over 37% of Interactive Brokers accounts now come from Asia, up from 27% in 2017, and growth continues to be strong.

With the addition of Singapore, the global brokerage firm now has nine entities around the globe in the US, Australia, Canada, Hong Kong, India, Japan, Luxembourg and the UK, serving over 876,000 clients accounts in more than 220 countries and territories. Its office opening comes as other brokers have exited Singapore or decreased their commitment to the country.

Interactive Brokers Managing Director of the Asia Pacific region David Friedland said that creating a presence on the ground to support and service active traders and the wealth management community is important as their client base continues to rapidly increase in Singapore.

“As a critical wealth management and financial hub in Asia, our expansion in the region reflects that importance and keeps up with account growth,” he added.

Interactive Brokers Singapore is led by Guillaume Roux-Chabert as head of sales, and Kevin Tan as Interactive Brokers’ Singaporean CEO.