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Anonymous

21 Apr 2021

βˆ™

General Investing

What are your thoughts on using Tiger Brokers to hold Tesla stock (because of promo) and Moomoo for the rest?

I prefer using moomoo. But since i tiger has 10% off on tesla stock, thinking of buying only tesla with tiger.

Is this cost effective in the long run or should i just be using one brokerage only?

Discussion (2)

What are your thoughts?

thefrugalstudent

thefrugalstudent

21 Apr 2021

Founder at thefrugalstudent.com

Hi Anon,

I believe the 10% off TSLA is no longer ongoing for Tiger broker signups. Currently, it is a free share of Starbucks, which IMO is more worth it than 10% off TSLA because the share price of SBUX (116 USD) is more than 10% of TSLA (72 USD). If you prefer using Moomoo and want to own TSLA, you can still open a Tiger account, deposit min S$2k to get the free SBUX share, sell it off, withdraw the profits and use it to buy TSLA in Moomoo.

In the long run, there's probably not much difference because the fees are very similar for both.

Hope this helps & all the best!

Regards,

thefrugalstudent

HC Tang

HC Tang

21 Apr 2021

Financial Enthusiast, Budgeting at The Society

About the same for both in terms of app and also using custodian but Moo Moo's Custodian using FUTU doing own clearing in the states.

Add it up, Tiger fee slightly cheaper than Moo Moo (ref: https://thefipharmacist.com/tiger-brokers-vs-mo...)

If you get the 10% disc, then use Tiger.

Long run, is about the same to me.

You can use 2 brokerage to manage the risk just in case, but hold diff share rather than the same share so it is easier to manage the averaging cost.

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