Tiger Brokers is a fintech company listed on NASDAQ in 2014. It brings many exciting surprises to the investing world: a strong research team, innovative investing technology, global market services, and competitive commissions. However, it is still new in the industry and far from a profitable enterprise in the market.
Tiger Brokers Key Features
Innovation, technology-oriented, and AI-driven business models are revolutionizing industries all over the world. To be frank, we are rapidly going apart from the old ways of living. So is the way we invest today.
To understand more about the advantages of online investing and Tiger Brokers let us explore further and see if it is a viable investing fintech for the future.
1. Easy communication
Remember the old days when you have to use hard mail or email to ask for company reports and analysis? Now you can see them all on the internet at a click. Government and professional websites provide listed company services, and you don’t wait for one more minute to get what you want from the net.
2. Lower probability of making errors
Besides, you can place orders online immediately without contacting a single trader during the process. The processing time is shorter than before. The probability of someone making a mistake placing a wrong order is much lower.
3. Lower fees
Robot investing or AI investing, which is better? No matter which way, you must benefit from the innovation. Lower cost is vital to your investing. The commission for online investing is much lower and even zero now from some brokers. Frequent traders benefit most from the fees than using a human being for doing so.
4. Worldwide markets at a touch
Investors can put money across the world markets thanks to technology. Through the internet, do the investing companies offer the investing services to local people like us.
Investing becomes more convenient because it is hassle-free and low-cost, plus click at a single click at your home or workplace.
One of those innovative online brokers among them is Tiger brokers. But the company offers more.
Pros and Cons
Here is the summary of the pros and cons for your reference:
- Easy to use user interfaces:
Tiger uses sophisticated technology to make trades easy and convenient to use. The platform interfaces integrate all tools needed for easy trading.
- Competitive commission rates:
Investors maximize gains by reducing costs. Tiger Brokers also scraps all front-load and back-end charges on all funds.
- Currency exchange fee
- No deposit, withdrawal, inactivity, and account maintenance fees
- No custody and dividend handling fees
- Global market access:
Investors can invest in five major markets. They include the US, Australia, China(through the Hong Kong market), Hong Kong, and Singapore. It is expanding.
- Free access to the US Level two market data:
Investors have more data and information for investing.
- Rewards for first-time registrants and new account holders:
Gifts like Tigercoins, a free share of Apple, free commission trades, and in-depth US market information access are available to new entrants.
- A new player in the industry:
Tiger Brokers is a disruptive-technology fintech competitor in the investing industry. Performance and profit are what Tiger needs to achieve.
- Limited choices of markets:
Some major markets like exchanges in London, Frankfurt, Paris, Tokyo, Zurich are still not on the list.
- Complex charge structures:
Investors may be confused with the two-tier fee structure: commission and platform fees.
- Limited funding choices:
Bank transfer and telegraphic transfer are the only ways to fund an investor’s account. Alternatives like PayNow or PayPal are still not available.
- No Central Depository Account service:
Shares are not in the custody of the Singapore Stock Exchange. The assets are in the safest place for protection.
Tiger Brokers’ Milestone
Founded and backed by Interactive Brokers, Xiaomi, ZhenFund, and a celebrity investor, Mr. Jim Rogers, in 2014, Tiger Brokers is a technology-focused online broker providing multi-investment services to clients worldwide.
For its innovative trading platform, Tiger Brokers is named the KPMG Fintech 100 and on the C.B. Insights’ List of Unicorn Companies.
- Since being listed on NASDAQ(TICKER: TIGR), Tiger brokers has had operations in Singapore, the US, Australia, and New Zealand. It is still expanding. You can trade in five markets. They are Singapore, Hong Kong, the US, Australia, and China. Tiger plans to open more in the future.
- Tiger Brokers offers multi-various services. The most popular investment products include stocks, warrants, options, futures, ETFs, and REITs.
- Tiger is expanding the range. Tiger has just launched a B2B service with a Singapore financial advisory firm PFPFA. The advisory firm’s clients can access risk management and advanced portfolio services using Tiger’s AI technology and trading platforms.
- Tiger Brokers offer two applications to clients. One is a desktop application; the other is a mobile application. Through the downloaded software, clients can invest based on the latest market news.
- Tiger Brokers has 1.4 million account holders as of March 2021 and more than USD219.1 billion trading volume for 2020.
- Moreover, the company is innovation-oriented; 48% of its staff are devoted to working in Research and Development department as of October 2020.
- The fintech has 1.47 million equities under management as of June 2020.
- What’s more, Tiger claims it can process 1.68 million trades per second as of June 2020. And it has made product iterations as of May 2021.
What do Tiger Brokers offer?
1. Rewards for first-time registrants and new account holders
- If you register with Tiger Brokers the first time, you will get 500 Tiger coins immediately. Registrants can use the coins to redeem gifts from the broker at their center.
- Besides, you will have access to the level 2 market data from the US market.
- Furthermore, after you have a new account with Tiger, you can get 60 commission-free trades in 180 days. The benefit applies to the Australian, Hong Kong, Singapore, and US markets.
- You have five commission-free trades to use in 30 days.
- Tiger Brokers will give you a share of Apple Inc(NASDAQ: AAPL) if you deposit a minimum of S$2,000 with your account.
- The reward value for a new user can be up to S$7200 in total.
- You can have the chance of winning an iPhone Pro if you refer three people to open an account with a minimum of S$100 each. More rewards are available in return for promoting more businesses.
2. Competitive Commission Fees
Tiger Brokers offers competitive commission rates; the tables below list the commission rates for markets.
3. Stocks, REITs, ETFs & DLCs
|US Stock Markets(New York Stock Exchange) & ETFs||From USD0.005/share||Quotes: L2 NYSE Arca Book – Free|
|Hong Kong Stock Market||From 0.03% of the trade value||Nil|
|Singapore Stock Market, ETFs, REITs DLCs||From 0.04% of the trade value||Nil|
|China A-Shares||From 0.03% of the trade value||Nil|
|Australian Stock Market||From 0.03% of the trade value||Nil|
4. Options, Warrant, CBBCs
|The US Stock Options||From USD0.65 per contract|
|The Hong Kong Stock Options||From 0.2% of the trade value|
|The Hong Kong Warrants & CBBCs||From 0.03% of the trade value|
You can find out more fee details about the futures trades on the website.
Tiger Brokers does not charge any fees on all stock and bond funds(the 1.2% charge on the sale of stock & hybrid funds waived till September 30, 2021)
The company does not collect any custody fees, deposit and withdrawal fees, currency exchange fees, inactivity fees, and account maintenance fees.
5. Financing rates for leverage trading
Tiger Brokers offers eight currencies rate services to facilitate trading for clients. They include US dollar(USD), Hong Kong dollar(HKD), Singapore dollar(SGD), Chinese Renminbi(CNH), Australian dollar(AUD), Euro(EUR), British Pound(GBP), and Japanese Yen(JPN).
More details for the currency rates are on the website: https://www.tigerbrokers.com.sg/commissions/others_fees/financing_interest_rates
6. License by MAS
Tiger Brokers holds the capital market services license under the Monetary of Singapore(MAS). The Singapore authority regulates all its activities under the Securities and Futures Act(CAP289).
Singapore is a regional financial hub, and clients’ assets are safe under the local legal framework.
7. Property Protection
Segregation of Clients’ Assets
- Under the Singapore regulations, Tiger Brokers must set up a custody account to keep and use for investing purposes instructed by clients only. They are separable from Tiger’s capital.
- Tiger Brokers should check and perform reconciliation activities regarding the securities and clients’ money each trading day.
Audit by the Monetary Authority of Singapore(MAS)
- The MAS carries out regular checks to ensure every financial institution licensed comply with the regulation.
- Clients’ assets are in regular and special check-ups to ensure compliance by internal and external auditors.
- Furthermore, capital adequacy and risk management processes should be in place to protect clients’ interests.
- To ensure clients’ assets are protected, Tiger performs due diligence with counterparties to monitor clients’ funds on an ongoing basis.
Summary of Products available from Tiger Brokers
You can trade stocks through online platforms such as desktop and mobile applications in five markets – Singapore, Hong Kong, Australia, China(through HKEX), and the US.
Investors can participate in the real estate investment trusts in significant markets for income growth.
- Mutual Funds:
Tiger Brokers offer two ways for mutual fund investors. One buys directly from the fund mall on the platform; the other buys from funds listed on markets.
Same as the above, investors can access exchange-traded funds on markets offered by Tiger Brokers or invest directly from the fund mall on the platform.
The online broker offers eight asset classes on the platform. They are index futures, equity futures; forex futures; energy futures; digital asset futures; treasury futures, agriculture futures, and metal futures.
The options from the US; Hong Kong Market are available to investors.
- Warrants: Like a call option, a warrant gives the holder a right and obligation to buy a stock at a specified price and period. It is available in the Hong Kong market.
The leveraged products allow investors to take a bullish or bearish position on an underlying stock. Investment banks usually issue CBBCs. A contract terminates when the underlying stock price reaches a specified price or is called by the issuer before or at expiry.
Comparisons of Major Online Brokers in Singapore
|Types||Tiger Brokers||Moomoo||Interactive Brokers||TD Ameritrade|
|Commission||US Market |
|US Market |
|US Market |
|Minimum Deposit||Nil; NNNn||Nil||Nil||Nil|
|Maintenance Fee||Nil||US Market ||Up to USD10 per month(reduced by commissions for trade)||Nil|
|Promotion|| || ||Nil||Nil|
Tiger Brokers, an international online broker, provides a convenient and easy-to-use trading system. Investors retrieve related news and analysis and make investment decisions on one interface.
What’s more, the commission rate is still competitive among peers. However, Tiger has no account maintenance fee while the others charge clients. TD Ameritrade has only the US market for business.
What’s more, Tiger Brokers offers generous rewards to first-time registrants and new account holders with no conditions attached. It makes beginner and inexperienced investors more likely to use Tigers.
Besides, investors can access fast-growing markets and abundant choices of investments on its platforms. Currently, it does not charge fees on mutual funds and ETFs.
We recommend tiger brokers should be fit for beginner investors for the following reasons:
- It is an all-in-one system. New investors have the convenience of doing all things in one account like analysis, investing.
- Cost efficiency: New investors can take advantage of the single low-cost strategy in maximizing their profits.
- Tiger Brokers has a short profit-making history in the business. The startup may need to do more to win the hearts and minds of advanced and sophisticated clients.
How to open an account with Tiger Brokers
You can open an account with Tiger through Tiger Trade App on your cell phone and Tiger’s official website. Click here to find out more in depth on how to open a brokerage account.
Here are the steps to take to create a Tiger Brokers account:
Step 1: Fill in your personal information, including your name and email address;
Provide your employment information, and then select your country.
Step 2: Select the account type you want to create: cash or margin account; provide your trading experience and asset details.
Step 3: Upload your identity information and E-signature, proof of residential address(if necessary), and bank statement;
Step 4: Confirm the terms and condition agreement and tax form information;
Step 5: Submit your application. Tiger will review your application. If they approve your request, you can fund and trade.
- People aged 15 to under 75 are eligible to open a cash account with no requirements.
- Yet, a margin account is available to people working full-time or retired only.
- Students or interns are not eligible for margin accounts.
Investors of cash accounts can upgrade to margin account status. Tiger Brokers does not charge with cash, margin account opening, and upgrading. However, you should consult your financial advisor first before making any decision on any type of account.
Other things about Tiger Brokers
1. How to buy funds from my account?
Tiger Brokers selects outstanding mutual funds worldwide. They include equity funds, bond funds. Investors can buy the funds by clicking the Tiger trade mobile app and selecting “Fund Mall.” Funds choices are available to investors.
2. What is the minimum requirement for a fund investment?
The minimum amount is USD100.
3. What is the currency of the fund investments?
The underlying currency unit is the US dollar. If you have currencies other than US dollars and would like to invest in funds, you have to convert them into US Dollars and invest in the funds you choose. It may take longer to go through the process.
4. How do Tiger Brokers handle if the funds I’ve invested pay dividends?
Tiger Brokers processes two types of dividends: 1. cash dividends; 2. share dividends.
Referring to the first, Tiger Brokers will re-invest into the fund distributing the dividends, and without clients’ further instructions, the broker will redeem the dividend shares.
5. Do Tiger Brokers accept share transfers to and from other stockbrokers? What are the fees and how to do it?
Yes, Tiger Brokers accepts both transfer-in and -out shares from and to other stockbrokers. The shares allowed for transfer come from the US, Australia, China’s A-shares, Hong Kong.
Tiger does not charge transfer-in shares but levy charges on transfer-out shares. The fees vary depending on the origin markets of stocks.
Investors can make the transactions through the desktop or mobile applications.
Tiger Brokers offer investment services to global markets, has competitive commissions, generous incentives for first-time registrants and new account holders. However, the short history may concern investors before establishing itself and becoming a sustainable and profitable business.
- Tiger Brokers App: Tiger Brokers provides securities services through its innovative technology: desktop application and tiger trade app with user-friendly interface.
- Tiger Brokers offer investment services to global markets: Besides Singapore stocks from the Singapore Exchange, investors can invest in stocks from Shanghai Stock Exchange, Australian Stock Exchange, the New York Stock Exchange, and Hong Kong Stock Exchange.
- Competitive commissions: Though the commission rates are the lowest in the market, they do not charge account fees, maintenance fees. Tiger Brokers waive all charges on all mutual funds sales.
- Generous incentives for first-time registrants and new account holders: Tiger Brokers offers abundant rewards to newcomers.
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