It is rare to see new players enter the online brokerage market. Tiger Brokerage entered Singapore in 2020 and has made a significant mark on the market till now.
They have raised a total of $139 million till now and achieved a trading volume of $404.3 billion by December 2021. So, let’s begin our detailed Tiger trade review and tell you everything you need to know about them.
Who are Tiger Brokers?
They are a Beijing-based online brokerage startup founded in 2014. If you’re wondering who owns Tiger Brokers, they’re backed by Interactive Brokers Group Inc (IBKR), Xiaomi Inc, the ZhenFund, and Jim Rogers.
Today, they have more than 1.4 million account holders worldwide. They are an international company with offices in Singapore, Sydney, Auckland, New York, and Beijing.
Is Tiger Brokers Safe?
Tiger Brokers follows the regulations of the respective countries they operate. For instance, they are regulated by the Monetary Authority of Singapore. However, you should still do your research when signing up for an online brokerage firm, as you wouldn’t want to end up with a fraudulent operator.
Pros and Cons of Tiger Brokers
Some of the primary pros and cons of Tiger Brokers are listed below:
1. Competitive Commission Fees
The Tiger Broker commission fee sets them apart from competitors. They almost charge no custody fees, deposit & withdrawal, currency exchange, inactivity, or account maintenance fees.
Here is the exact amount of fees they charge for Singaporean stocks:
- Commission Fees: 0.03%
- Trading Fees: 0.0075%
- Platform Fees: 0.03%
Here are their fees for trading stocks in America:
- Commission Fees: $0.005 per share (min. US$0.99)
- Settlement Fees: $0.003 per share
- Platform Fees: $0.005 per share (min. US$1 per trade)
2. Perks & Rewards
Tiger Brokers awards give you many sign-up perks, such as:
- Commission free trades
- Market data access
- Stock vouchers
- Free GoPro share
- Commission-free trading for H.K., China, and Singapore stocks for 365 days
- 180 days of unlimited trades for U.S. stocks
3. A Wide Variety of Products
You can trade stocks from Singapore, the USA, Hong Kong, Australia, and China, through Tiger Brokers. However, it is not just a stock trading platform but also offers ETFs, options, warrants, futures, and funds.
4. A Dedicated App
Tiger Brokers has a special app for iOS, Android, and desktop, which is interactive and customizable, providing an incredible user experience. Besides Tiger app trading, Tiger Brokers also provides users with the following:
- Valuation analysis
- Earnings calendar
- Latest research
1. A New Player
Tiger Brokers has made its early mark in the market. However, it is still a relatively new player and needs to impress many with its performance and profits.
2. Limited Market Choices
Tiger Brokers have made themselves known in prominent markets, such as Singapore & Auckland. However, they still have to reach other important markets, such as London, Frankfurt, Paris, Tokyo, New York.
3. Limited Funding Choices
Bank transfers and telegraphs are the only options for transferring funds to an investor’s account. PayPal and PayNow still need to be made available.
4. A Complex Structure
The two-tier fee structure, including commission and platform fees, might need to be clarified for many investors.
So, this was our Tiger Brokers review, providing a convenient trading platform for both rookie and experienced traders. From competitive pricing to a dedicated app, it provides many reliable options and tools to help investors. Moreover, there are no tiger broker minimum deposit requirements.
However, some drawbacks still exist, such as limited market and funding choices. You should weigh both pros and cons and decide if it works for you.