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Anonymous
Tiger brokers sign-up bonus terms & conditions.
Tiger brokers is currently running a promotion where if you deposit 300k u get rewarded a free AMZN stock (worth 3.3k USD!)
Would it be considered abuse if I deposit the amount, wait for 2-3 weeks, sell the stock and withdraw my entire sum there? From their T&C it seems like the only condition is to perform 10 trades worth >$1.
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thefrugalstudent
13 Jun 2021
Founder at thefrugalstudent.com
Hi Anon,
No, it won't be considered abuse. They probably expect most people to be doing exactly what you said. The catch is that when people deposit money into their Tiger accounts, they're hoping that a fraction of them actually stay on as long-term users. Even if they don't, they still earn a measly bit of commission+platform fee from you when fulfilling the 10 trades.
Regards,
thefrugalstudent
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Nope, it is perfectly normal, and I have done the same. What I did was the $2700 promo with Tiger to get a free Starbucks share. I deposited 2.7k, made 5 round trip trades of the STI ETF to fulfil trade requirements, and got the free Starbucks share, after which I immediately sold it for cash and withdrew my 2.7k and the value of the Starbucks share.