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?
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.
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.
Account opening rewards are looking good and you get rewards as you trade and invest.
This post is sponsored by Tiger Brokers.
T&Cs apply. Please visit our website for other applicable fees: https://www.tigerbrokers.com.sg/commissions/fees.
This advertisement has not been reviewed by the Monetary Authority of Singapore.