Since 2020, when Tiger Brokers joined the big boys in Singapore, the number of new accounts opened has increased dramatically. See why they’ve generated so much buzz in the trading and investing world, as well as how you can get a free Grab share, commission-free trades, Tiger Coins, and more.
It’s not every day that we see a new player enter the fray, especially when it comes to Contact Info online brokerages. In March 2020, Tiger Brokers launched in Singapore and it’s safe to say that they’ve more than made their mark.
In 2022, the brokerage launched Tiger Vault, their cash management solution, which gives investors up to a 2.4% yield. The cash is liquid and can be used to fund your Tiger Brokers investments over one business day. You can also opt for the Auto Sweep function, which automatically channels your idle cash into the vault.
The early success of Tiger Brokers has been aided by the increased investor interest in trading and investing during COVID-19. Tiger Brokers reported a three-fold rise in account openings and a 540% increase in trading value in Q3 2020 compared to Q2 2020.
Tiger Brokers also saw a rise in the typical first-time account deposit a year later, from S$4,000 in Q2 and Q3 2021 to S$5,000 in Q4.
It’s easy to assume that Tiger Brokers is among the most well-liked brokerages in Singapore given its growth and affordable price. So, do you like it?
Features of Tiger brokers
Demo Account – If you create an account with Tiger Brokers, then you get a demo account. You can try a demo and when you understand trading well then you can start trading by investing money. Due to this feature, you can avoid a lot of loss because after trying up a demo account, you will get experience whether you can earn money from it or not.
Margin Trading – Because of this, you can trade more for less money. Margin trading plays a huge role for the trader which gives them the advantage of earning more profit with less money. Let’s understand it with an example – Suppose, the price of a share is $500 and in that, you are getting a margin of 5× then you will have to pay $100 for one share.
Fees & charges – Tiger Brokers’ charges are fine which are as follows
- From 0.03 * Trade Value
- Cash dividend collection fee – Free
- Withdrawal Fees -Currently, Tiger Brokers does not charge any withdrawal fees.
- Deposit Fees – This company does not charge anything yet for depositing money. Currently, deposition money is free for now.
What is the purpose of Tiger Brokers?
Tiger Brokers is an online brokerage service supported by Xiaomi and listed on the NASDAQ. They provide consumers with affordable access to international marketplaces, including those in Singapore, the United States, Hong Kong, China, and Australia. On Tiger’s platform, investors may access stocks, ETFs, REITs, options, warrants, futures, funds, and more.
Also, Read – Best EV Stocks in India 2023
Introduction to Tiger Brokers
- What you can spend money on Stocks, ETFs, options, warrants, CBBCs, REITs, futures, funds
- Required minimum balance: No min. balance or deposit required
- Fees for Singapore stocks: 0.03% commission fee, minimum S$0.99; 0.03% platform fee, minimum S$1
- Fees for US stocks: US$0.005 commission fee, minimum US$0.99 per trade; US$0.005 platform fee, minimum US$1 per trade
- Fees for HK stock: 0.03% commission fee, minimum HK$7 per order; 0.03% platform fee, minimum HK$8 per trade
- Fees for AU Stocks: 0.03% commission fee, minimum AU$2 per trade; 0.07% platform fee, minimum AU$2 per trade
- Fees for China A-shares: 0.03% commission fee, minimum CNH7 per trade; 0.03% platform fee, minimum CNH 8 per trade
The benefits and drawbacks of Tiger Brokers for your trading and investment requirements are listed below.
|Pros of using Tiger Brokers||Cons of using Tiger Brokers|
|Competitive commission fees.||For US shares, a commission fee of $0.99 is charged each trade. Other marketplaces’ stock trades are likewise subject to the minimum charge amount.|
|Attractive sign-up perks and rewards for trading. A high||volume of trade orders is required to enjoy the perks of a silver, gold, or ace trader. A wide|
|range of products is available for trading.|
|Dedicated app with a wide range of tools at your disposal|
Who Are Tiger Brokers Recommended For?
If they are newbies who need market education, new traders may find Tiger Brokers a little too advanced for them. Tiger does provide access to “Stock College” and other community platforms, but the educational resources aren’t very extensive. This implies that this broker might not be for you if you’re looking for a platform to help you through your very first trading steps.
To benefit from everything Tiger has to offer, you do not need to be an experienced pro, though. To expedite account acceptance, the broker employs KYC (Know-Your-Client) procedures that integrate AI and large data. Users may complete forms more quickly because of Tiger Brokers’ connection to the MyInfo site. Tiger is the broker for you if you want to start trading right now.
The continuous updates and real-time market data would be welcomed by experienced traders. Due to the market’s turbulence, it’s crucial to be informed of the most recent developments to avoid falling behind. Tiger Trade will also appeal to seasoned traders who prefer proprietary software. In conclusion, intermediate-to-advanced traders will find this broker appealing, especially those searching for a departure from the standard MT4/MT5 platform.
Top Tiger Brokers Features
- Opening an online account quickly and easily. Tiger places a premium on swift account opening and trading. The AI-powered Know-Your-Client system connects to the MyInfo function of the nation’s government. Users swiftly complete forms and Tiger utilizes artificial intelligence to confirm identities, documents, and handwritten signatures. Even face recognition technology is employed by the broker. This procedure is quick, and the completeness minimizes the risk of fraud. Even your mobile device can be used to finish the account opening procedure. Simply scan the necessary QR codes to submit documents from your phone.
- Affordable, low brokerage fees. Tiger Brokers offers some of the most affordable prices in the industry in comparison. The brokers are engaged in a pricing war, and the losers in this race to the bottom are the clients. The commission rates charged by Tiger Brokers are among the lowest in the world marketplace. For instance, Tiger is completely upfront about its prices and provides detailed breakdowns on its website, allowing you to avoid any unexpected costs.
- excellent mobile trading app. Nowadays, everyone is constantly on the go, so individuals value the ability to do business on their phone. To achieve it, use the Tiger Trade mobile app. Both Android and iOS devices may use the mobile application. In addition to quick account setup, you may keep up with the market by using sophisticated charting tools. The platform provides American and Hong Kong stock IPOs with one-click IPO services. Users can also benefit from an interactive investing community to enhance their trading abilities.
- software for superior charts. This capability particularly shines when used with the mobile app for Tiger Trade’s charting program. You can easily keep an eye on the markets thanks to the user-friendly design, and you can utilize graphs and indicators to assess the market. Your dashboard (described in more detail in a few pages below) is customized, and the charting software enables you to retrieve pertinent data in real time. Additionally, you may use your mobile app to compare two counts on the same chart.
- many different features to help clients with their investments. When it comes to this broker, free tools are the name of the game. Among the tools that assist customers with their investments are technical analysis indicators, customized watchlists, financial data calendars, price-line chart comparisons, top advancers and decliners lists, and a Tiger Chaos Timing Index. The best part is that these instruments are complimentary and free of charge.
Tiger Brokers Overview
- Type of Broker Non-Advisory/Executionary Broker, Online Broker
- Regulation & Licensing Monetary Authority of Singapore (Singapore)
- Clients Accepted from Asia
- Assets Offered Commodities, Shares/Stocks, Futures/Forwards, Funds, Options
- Platforms Available Desktop & Mobile (Tiger Trade)
- Mobile Compatibility Android, iOS
- Payment Types Accepted Bank Wire Transfer, FAST, DDA, PayNow
Tiger Brokers Account Types
|Account Currencies||USD, HKD, SGD, AUD, CNH|
|Available Leverage||Up to 4x (day trade), Up to 2x (next day)|
|Commission Per Trade||Varies Based on Asset|
|Decimal Pricing||Up to 3-5|
|Trading Instruments||Equities, Options, Futures, Funds|
|Min. Lot Size Per Trade||1 lot|
|Max Lot Size Per Trade||Depends on Contract|
|Copy Trading Support||No|
Regulation & Compliance at Tiger Brokers
The Monetary Authority of Singapore has issued a Capital Markets Service License to Tiger Brokers Singapore. The ASIC awarded Tiger Brokers Australia an AFS (Australian Financial Services) License as well.
The AFS’s license number is 505213. This broker is listed on New Zealand’s Financial Service Providers Register (No. FSP473106). The SEC and FINRA are both members of Tiger Brokers (US) (CRD: 120583; SEC: 8-65324). Tiger Brokers (US) is governed by the NFA as well (No. 0328552).
Pricing for tigers brokers
Although there are different fees depending on the goods you are trading, this section will give a basic summary. Trading US stocks or ETFs will cost you $0.01 per share, whereas trading Hong Kong stocks will cost you 0.06% of the trade value. A fee of 0.08% of the trading value will be charged for Singapore transactions, 0.06% of the trade value for China A-shares, and 0.10% of the trade value for Australian equities. You may view the breakdown and calculation of these fees on the Tiger Brokers website.
Options, warrants, and CBBCs come next. US options traders will pay $0.95 for each contract in fees. The commission for CBBCs and HK warrants is 0.06% of the trading value. For CME Bitcoin Futures, the charges generally vary from USD 0.99 to USD 19.99. The commission you pay will depend on the futures you trade.
Different futures exist for the Treasury, metal, energy, forex, agriculture, equities, and Bitcoin. Tiger Brokers has kindly provided a charge schedule on its website that will clearly indicate the costs associated with each subcategory of those assets. Last but not least, there is no platform fee and there is 0% commission on sales charges (buy, sell, or switch) for Funds.
Tiger Brokers Security & Reliability
The platform is utilized and the risk management tools available are typically quite excellent indicators of how reliable a deal is. The trading features on Tiger Brokers’ user interface, which employs a single account, include items like the risk-and-reward analysis. When it comes to investing, there will always be some risk involved; as a result, it may be extremely unreliable; nevertheless, Tiger Brokers aims to assist clients in controlling this volatility.
The risk-management and diversification tools offered to allow investors to at least prepare for possible losses. The platform’s trading function has features such as one-click trading, which allows users to place orders quickly, using features like trade size, profit, and loss analysis, buy or sell price, screeners, stock options trading, and more analytics to help make that decision.
Telephone: +65 6950 0591 / +65 6331 2277 Online Chat: Available on this website and Tiger Trade APP
It might be challenging to tell these two applications apart because each of their respective platforms is superior on its own. It is up to you to decide which software features you desire and which ones you are willing to sacrifice.
I hope you enjoyed reading this essay. We made an effort to cover every angle about Tiger Brokers vs. Webull. If at all possible, spread the word about this essay among your friends and family so that everyone will be aware of it.
How reliable is Tiger broker?
You could feel nervous about making a deposit on a brand-new online brokerage platform. However, Tiger Brokers is subject to the Monetary Authority of Singapore regulation, making it highly improbable that it is a fly-by-night operation or a fraud.
Why is Tiger Broker good?
Because of its affordable costs and all-inclusive digital platform, Tiger Brokers distinguishes out. As one of the least expensive providers in Singapore, their commission fees of 0.03% surpass Saxo Markets, which levies a commission fee of 0.08% with a minimum of S$5 per trade.
How do I withdraw money from Tiger broker?
Withdrawal Process Request
Request for Withdrawal Process Retraction via Tiger’s website Login and select My Account > Withdrawal from the official website. Then fill out the withdrawal request according to the guidelines. Retraction through the Tiger Trade APP: Tiger Account > Me > Withdrawal on the APP Then fill out the withdrawal request according to the guidelines.