facebookFirstrade or Tiger Broker or Interactive Broker for US Market? - Seedly

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Anonymous

27 Apr 2021

General Investing

Firstrade or Tiger Broker or Interactive Broker for US Market?

Any recommendations between Firstrade or Tiger Broker or Interactive Broker for US Market?

Discussion (2)

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Chris

07 Apr 2021

Owner and Writer at Tortoisemoney.com

Ok I've never used Firstrade, but for Tiger and IBKR I can help you with that.

IBKR is good for:

  1. Traders

  2. People with more than 100k USD in stocks or close to it

Tiger Brokers is good for:

  1. Beginners with small capital

Both have:

  1. Super fast approval times (1 day)

  2. Decent FX (IBKR is spot, Tiger I believe is 0.3-0.5% spread)

  3. Low comms (IBKR ~0.35USD, Tiger 1.99USD)

Tiger Downsides:

  1. Some people may deem it untrustworthy bc of its links to China

  2. Transfer of position fee is USD100 per counter (can be worked around by selling off in Tiger and buying in your new broker)

  3. Limited to US, HK, AU, CN and SG markets

IBKR Downsides:

  1. Inactivity charge which is offset by commissions incurred (USD10/month for 26yo and over, USD3/month if under)

  2. Only 1 free withdrawal per month

If you wish to sign up for Tiger Brokers, you can use my promo code here:

https://www.tigersecurities.com/accounts?invite...

If you wish to check out other brokers, do consider my comparison article here!​​​

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