How does Tiger Broker stock vouchers work?

Hi Anon,

What Chris said pretty much sums it up! It's a rebate system so you'll need to prepare the cash upfront.

I wrote a post dedicated to Tiger Brokers stock vouchers on my blog, feel free to check it out if you'd like more details!

https://www.thefrugalstudent.com/tiger-brokers-...

Regards,
thefrugalstudent

Stock vouchers are rebated when you spend them in purchasing stock. For example, if you buy 10 shares of ES3 for $31, you will pay the $30 upfront, but $10 will be rebated to you after a period of time (usually 1 day or less) due to using the voucher.

If you want to just take the cash, personally, I would use ES3 on SGX to redeem my vouchers because ES3 is the highest volume ETF (I believe) on the SGX and ETFs on the SGX have a minimum lot size of only 10 (as opposed to the usual 100). So, what I usually do is to buy, check that the voucher is used, and sell. All under 5 mins to prevent loss due to market movement.

Note also that vouchers cannot be stacked and have to be redeemed one by one. Also, once you've made your purchase, you can check under your 'Filled Orders' to see if the voucher has been used. There should be the word 'Rebating' under your order, which will change to 'Rebated' once the rebate is in. Also do check under your rewards to ensure that the voucher has actually been used.​​​