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Anonymous
Any recommendations between Firstrade or Tiger Broker or Interactive Broker for US Market?
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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:
Traders
People with more than 100k USD in stocks or close to it
Tiger Brokers is good for:
Both have:
Super fast approval times (1 day)
Decent FX (IBKR is spot, Tiger I believe is 0.3-0.5% spread)
Low comms (IBKR ~0.35USD, Tiger 1.99USD)
Tiger Downsides:
Some people may deem it untrustworthy bc of its links to China
Transfer of position fee is USD100 per counter (can be worked around by selling off in Tiger and buying in your new broker)
Limited to US, HK, AU, CN and SG markets
IBKR Downsides:
Inactivity charge which is offset by commissions incurred (USD10/month for 26yo and over, USD3/month if under)
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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