Dividend Magic

Saving and Investing towards Financial Independence in Malaysia

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Tiger Brokers Review

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Filed Under: Dividends, FI/RE, Financial Independence, Investment, Investment Portfolio, Sponsored, US Stocks 2

I have had an account with Tiger Brokers since 2020 but have yet to utilise it apart from trying out their interface and depositing a small amount in there.

If you are looking to trade international stocks and have yet to open an account with Tiger Brokers, you will be glad to know that there are huge perks to opening an account now.

Tiger Brokers Account Opening Referral and Promotion

Account Opening Rewards

  • 1 unit of Grab share
  • Unlimited commission-free trades for HK, SG, and China A-Shares for 365 days.
  • Unlimited commission-free trades for US stocks for 180 days. 

Account Funding Reward (Initial Deposit of SGD1,000 or more + execute 5 BUY trades)

  • SGD88 cash

The full T&C can be viewed hERE. The promotion lasts till 12 October 2022.

Why Tiger Brokers?

Fees

First off, as always, fees. Tiger Brokers’ zero-commission trading is huge and beats many other international brokers.

Now, zero commissions do not mean that trading of US shares is totally free because there is, of course, a platform fee of USD0.005 per share or a minimum of USD1 per trade. It is a fee, but it is cheaper in comparison to many other brokers. So, keep that in mind.

As I’ve mentioned many times, fees are important because they eat their way into your investment and you’ll find yourself paying a lot more than 1% at the end of day, say, 20 years.

You may think a 0.1% or a 1% fee is of no significance but with the compounding nature of long-term investing, we, as average investors, are looking at hundreds of thousands to millions of dollars in our investments at the end of the day.

Regulation and Protection

Tiger Brokers (Singapore) Pte Ltd is regulated by the Monetary Authority of Singapore (MAS).

Elsewhere, they’re also regulated by the SEC in the US, ASIC in Australia and HKSFC in Hong Kong. They’re compliant in all the countries they operate in so they’re safe. Apart from that, customer funds are held in a segregated trust account with DBS Bank Ltd. Custodian of investors’ shares is with the Central Depository (CDP) as well as overseas brokers.

Another important safety factor is that Tiger Brokers is listed on NASDAQ and under the ticker TIGR. This, in my book, adds credibility to Tiger Brokers as a brokerage platform. Their books and reports are easily accessible should you feel the need to refer to them as well.

Rewards

There’s a built-in rewards system for users of Tiger Brokers – Tiger Coins. By completing certain tasks (which aren’t all that hard) you’ll be credited with Tiger Coins which can be used to redeem rewards such as commission-free trades.

Account Opening and Registration

So, you’ve decided to open an account. Two types of accounts are available at Tiger Brokers – Margin and Cash Upfront. I’ll always recommend a cash upfront account to start with. If you’ve been trading and investing for a long time and are confident in your abilities, you can always move up and open a margin account.

Link to register hERE.

Funding Your Tiger Brokers Account

The are many ways to move your funds to Tiger brokers but the best I’ve found and that’ll save you fees in the future is this: You’ll have to open a bank account in Singapore. Basically, you transfer your monies to an SG bank account (you can use services like Transferwise etc to save on fees) and then from there into your Tiger Broker’s account.

Another transfer method to note is to use Wise which is integrated directly into the Tiger Trade APP, as part of a collaboration with Tiger Brokers. This method is fast and easy once it is set up. More info can be found here: https://www.tigerbrokers.com.sg/help/detail/87168024.

What I’ll be Using

Because of Tiger Broker’s low fee structure, I’ll be looking to add a ton of long-term international stocks here. Especially US shares.

Love the rewards I get from trading as well in the form of Tiger Coins.

End.

Account opening rewards are looking good and you get rewards as you trade and invest.

If you’ve yet to sign up and want to, use the registration link hERE. Check out the full details of the promotion hERE.

This post is sponsored by Tiger Brokers.

[Sponsored] Touch ‘n Go eWallet

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Filed Under: Sponsored 2

I have a lot to fear when using e-wallets.

It has however been somewhat alleviated when I know that security measures are put in place to make transactions more protected. The one that really caught my eye was Touch ‘n Go eWallet’s new Money-back Guarantee policy. This policy is the first-ever policy in Malaysia that ensures your eWallet is safe and secure to use. This is the first time I’m hearing of such a policy from e-wallet service providers.

The Touch ‘n Go eWallet has all the benefits you’d expect from an e-wallet. And more. As far as I know, the Touch ‘n Go eWallet is the only one with unique features for toll payment. It is especially convenient as it ties in with RFID and PayDirect.  I now enjoy rebates as I pass through tolls with the eWallet.

Money-back Guarantee Policy

Now, on to the part I find most beneficial of the Touch n’Go eWallet to us user – its Money-back Guarantee Policy. The policy was introduced just a few months ago as there was a need to address users (like me) who needed assurance that they can avoid being scammed as they made payments online.

Verification of your identification is the most important step for Money-back Guarantee policy. As per the above steps, you’ll need to take a picture of your NRIC as well as a photo of yourself to get verified. The process is depicted below.

Touch ‘n Go eWallet’s policy addresses concerns many of us have regarding the security of eWallets. It’s especially risky with so many cases.

Just by googling eWallet scams, I’ve found a few cases. The most recent case I heard involved a user from Kluang, Johor where she had more than RM2,000 stolen from her through a particular e-wallet app.

Furthermore, vendors and merchants making an honest living are prone to all sorts of fraud cases involving fake notes. If all the retail outlets or mamaks or small vendors would start to use the eWallet, we could definitely see a reduction in these cases.

With Touch ‘n Go eWallet, they have a security guarantee in place through this policy to make sure that unauthorised transactions will be dealt with accordingly.

Submission of Claims

Upon successful verification of your Touch ‘n Go eWallet account, you’ll notice a Protection Shield’ icon visible on your edit profile button.

If you find that you’ve been charged with unauthorised transactions in your eWallet account, you can then click on the Money-back Guarantee Policy in the app. You may submit your claims via tngd.my/mbg or within the app itself.

You will then be prompted to a form. The next step of the verification process involves filling up the form with details of the case and attaching proof of receipts and any other relevant documentation.

The eWallet team will then investigate and if the claims are proven legitimate, refunds will be processed and reimbursed within 5 working days.

With such initiation by TNG Digital, users should feel more at ease using their eWallet. The transition from cash to cashless isn’t and will not be easy for some. However, knowing that such a policy is in place should see Malaysia converting to a cashless society. I look forward to seeing what Touch ‘n Go eWallet will have in store in the future for its users.

If you need more convincing or just wants to be educated about digital safety, check out this special Cashless Confidential video series here:

A nice little clip introducing TnG’s eWallet

Signing Up

If you haven’t already, sign up for Touch ‘n Go’s eWallet. Download their app, use my referral code – fc7gwv and don’t forget to get verified via the app.

Using the code will get you 5x toll rebates up to a maximum of 50x.

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