Tiger Brokers to Curb Chinese Mainland Trades Under Beijing Clampdown
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Up Fintech Holding Ltd., which operates Tiger Brokers, will stop allowing investors on the Chinese mainland to open new positions or deposit funds from June 12, amid Beijing’s tightening controls on cross-border investing.
These investors will still be able to sell holdings, close positions and withdraw funds, the Nasdaq-listed company said.
The move follows a directive from China’s securities regulator and seven other agencies ordering offshore brokerages to wind down illegal mainland-facing services over a two-year transition period.
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- Up Fintech (Tiger Brokers) will stop mainland China investors from opening new positions or depositing funds starting June 12, per regulatory orders.
- Affected users can still sell holdings and withdraw funds; restrictions apply to service location, not account type.
- Analysts estimate 570,000–630,000 mainland accounts at Up Fintech and Futu hold $27–$29 billion in assets.
- Up Fintech Holding Ltd.
- Up Fintech Holding Ltd., operator of Tiger Brokers, will halt new positions and deposits for mainland Chinese investors from June 12 due to regulatory crackdowns. Existing investors can still sell holdings. The Nasdaq-listed firm reported a Q1 net loss after a 411.2 million yuan penalty.
- Futu Holdings Ltd.
- Futu Holdings Ltd. (富途控股), a rival to Tiger Brokers, has yet to detail its compliance with China’s crackdown on cross-border investing. It faces a 1.85 billion yuan penalty, contributing to a 61% quarterly profit drop. The firm says it is working to implement regulatory requirements.
- First quarter of 2026：
- Up Fintech reports a first-quarter net loss after a 411.2 million yuan penalty; Futu reports a 61% drop in quarterly profit after a 1.85 billion yuan penalty.
- As of 2026：
- Two-year transition period set by Chinese regulators to wind down illegal mainland-facing services is set to conclude.
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