Hong Kong (PRWEB) December 21, 2012
8 Securities, Asia's first and only socially networked stock trading service, launched in Hong Kong in March 2012 to serve the Greater China region. Today the startup boasts over 50,000 customers and almost $1 billion USD in customer assets. 8 Securities will launch its second office in Tokyo in March 2013. With offices in Hong Kong and Tokyo, the ambitious startup believes its perfectly positioned to serve Asia's two largest and most important markets. 8 Securities estimates the current market size of Asia to be over 80 million online investing accounts. With only 35% online penetration and growing mobile adoption, the region still has significant room to grow.
The company was founded by Mathias Helleu and Mikaal Abdulla who previously ran E*TRADE's international business across Canada, Europe, the Middle East and Asia. After growing the business to $200 million in annual revenue, they decided to pursue their own vision in which the customer is given total control to personalize their own Trading Portal. Its no coincidence they chose to start in Hong Kong, which is on a fast track to becoming the world’s most important financial center. After successfully raising $8 million USD in venture capital, they announced the launch of their startup at the TechCrunch Disrupt conference in Beijing. 8 Securities was selected as a finalist from over 500 startups.
Through a personalized Trading Portal, 8 Securities gives its customers global trading, market data & research and a private social network on a single dashboard. The Portal offers a totally transparent and real-time peer to peer exchange of ideas and trading on one screen. The service is highly disruptive in a market where institutions have typically been the only gatekeeper for trading ideas and research.
"We simply see limitless opportunity across Asia to disrupt what is a very traditional industry today", said Mathias Helleu. "While customers gravitate online, embrace mobile and engage with social media, the traditional brokers continue to cling to their branch and advisory models. We saw a disconnect between changing customer dynamics and the stagnant companies serving them."
“The biggest trend we see in Asia is customers investing in the US companies they interact with daily. They see the growth opportunity of companies like Google, Apple and Starbucks in their own markets and it is no coincidence these are some of the most popular stocks. Customer can invest in their local market or the US, all from a single account.”
"US online brokerages are struggling. The market is mature, competition is driving down pricing, there is a single market focus and we have seen very little technology innovation in the past decade", said Mikaal Abdulla. "We developed our technology from the ground up. Our service can be delivered in any market, in any language, on any device and is always locally relevant because the customer personalizes their own Trading Portal, not us."
8 Securities uses Amazon Web Services which allows them to quickly and securely deploy their technology in the cloud and into any geography. "We can scale our business globally in a way that simply was not possible only five years ago. Most brokers are handcuffed to legacy technology while we see no limits to what we can do or how fast we can do it,” said Mikaal Abdulla.
8 Securities is now assessing opportunities in Australia, Singapore, Indonesia, India and the Middle East. “We are at a stage where acquisitions begin to look very attractive. Quite simply, our technology is flexible and we have built a platform on which we can rapidly scale new business”, said Mathias Helleu.
About 8 Securities
8 Securities was born from a mission to empower individual investors and reinvent the way people trade. Through a personalized Trading Portal, customers can access global trading, market data & research and a private social network on a single dashboard. Our customers can track the community’s most active buy & sells, follow trending traders, stocks & topics, view community sentiment and communicate with the network as a whole or in private circles. A totally transparent and real-time peer to peer exchange of ideas and trading are on one screen. 8 Securities service is available in English, Cantonese, Putonghua and Japanese.