What’s the difference between using Moo Moo or Tiger Brokers vs opening a DBS VICKERS account?

Updated May 2022

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Personally, I have DBS Vickers, Moomoo and Tiger Brokers. I had used DBS Vickers previously, but for the past few months, have moved to Moo Moo and Tiger Brokers. Currently comparing their interfaces and deciding which to stick with for the long term.

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Here are the benefits I have found:

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Both Moomoo and Tiger Brokers are offering commission fee waivers during the promotion period

Moomoo is offering 180 days of unlimited commission-free trades, while Tiger Brokers is offering 60 comission-free trades within 180 days. Hence, feel free to continue using the brokerage for the next 6 months without worries.

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Even without the waiver, the commission is just a few dollars compared to DBS Vickers, which is $25 a trade (this goes down to $10 for Cash Upfront, but when you sell you still incur $25).

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Both brokerages can be easily funded from DBS/POSB accounts and the withdrawal process is as simple too

I had many issues with DBS Vickers' web/mobile interface, resulting in me having to call the Bank when I couldn't make trades, which was a hassle.

In addition, I also like the following:

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Both Moomoo and Tiger Brokers are regulated by MAS

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Both Moomoo and Tiger Brokers do not charge monthly custodian fees

Hence, there’s no worry about being charged additional fees on your capital.

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Most importantly, the Sign-up Offers.

Additionally, this is a fruitful month for both brokerages' sign-up offers. In less than a week, you have the chance to obtain more than $2500 purely on the sign up offers, with a deposit of $4700. This represents a higher annual growth rate than the top 500 US companies!

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Moomoo ($40 cash coupon + potentially Tesla Share: up to $1300 with $2700 deposit)

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Tiger (1 Free Grab Share + $5 cash coupon + potentially Tesla Share: up to $1270 with $2000 deposit)

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(Update: With the Student promotion for Moomoo, you only need to deposit $1000 instead of $2700 to get your $240 reward!)

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I personally see this as a must-get offer as a new investor to have an investing headstart by getting attractive rewards and paying $0 minimum commission for investing in SG, US, and HK equities!

Try them out, get the rewards, then decide after which interface you prefer.

Hi Anon,

There are 2 main kinds of accounts offered on brokerage platforms: Custodian and CDP-linked accounts. MooMoo and Tiger are custodian accounts while DBS Vickers tends to be a CDP-linked account.

The primary benefit of using a custodian account is the cheaper transaction fees. The minimum commission on Tiger and MooMoo is about US$1-2 per transaction but for DBS Vickers it's about S$25 per transaction. If you opt for DBS Vickers Cash Upfront the commission for buying SGX-listed shares drops to S$10, but is still relatively expensive compared to Tiger/MooMoo.

The primary benefit of using a CDP-linked account is that the stocks you buy will be held in your CDP account but for custodian account the stocks will not be held in your name so you won't technically be a shareholder of the company.

Typically, the brokerage account you opt for should depend on your needs/wants as an investor. If you're more focused on overseas stocks, I would recommend using a custodian account instead of CDP account since CDP is only for local stocks. Also, if you are a day trader then transaction costs would be of greater priority and a custodian account would be better.

Hope this helps!