facebookI'm thinking of starting to buy US stocks but cant decide between Tiger Brokers and Firstrade. Also, anyone here knows if there are any underlying fees for Firstrade? - Seedly

Anonymous

01 Jan 2021

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I'm thinking of starting to buy US stocks but cant decide between Tiger Brokers and Firstrade. Also, anyone here knows if there are any underlying fees for Firstrade?

Beginner investor here! I probably will not be a very active investor, I'm intending to invest in the US market for long term growth. Looking for something beginner friendly, hope to hear your views and recommendations, thanks!

Discussion (6)

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Hello fellow investor!

Personally I have account with both Tiger Broker and Firstrade.
I will try to breakdown the pros and cons for your consideration below.

Firstrade:
Pros

  • Commission free
  • Simple and basic interface
  • Informative on upcoming stock company events (Financial annoucement/dividend payout...)
  • Free Morning star report

Cons

  • Not regulated by MAS
  • can only trade in US market
  • Unable to perform currency exchange
  • Fee of 50 USD per withdrawal

Tiger Broker:
Pros

  • Interactive and comprehensive interface
  • Able to perform currency exchange within app
  • Regulated by MAS
  • Fast deposit of money through Sg bank account
  • No withdrawal fee
  • Ease of investing in many other markets (SGX/ HK/US...)

Cons

  • May contain unrelevant news article
  • as low as 2 usd per trade (this amount can be neglected if you are doing long term investing)

My Opinion
Personally I trade using Tiger broker but for stock research, I cross reference the articles from Tiger Broker with Firstrade as I feel that they filter the articles of the stocks quite comprehensively. You can just open both if in doubt as it is not necessary to deposit a minimum amount of money to use both the brokers platform.

If you are interested in opening Tiger Broker, I have created a "step by step sign up" blogpost on it below.
https://investorean.blogspot.com/2020/12/how-to...

Do drop a comment if you have any other questions or feedback for my blog as I am still in the midst of sorting out the layout and stuff before I add more content on it :)

View 4 replies

Why not open both and see which you prefer, since it doesn't cost anything to open an account. So can just open, see see look look, then choose 1 from there. There will definitely be 2 sides of the spectrum, supporters of tiger vs supporters of firsttrade

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