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Updated May 2022
If you have little funds (~$3k), I would suggest getting BOTH Moomoo or Tiger.
Both brokerages' are having sign-up offers and in less than a week, you can obtain more than $400 purely on the sign up offers, with a deposit of $4700. This is an 8.5% yield on your deposits! If you just use $2700 as your main capital, this represents a 14.8% yield. It would be tough to get such returns through your investments.
Both Moomoo and Tiger Brokers do not charge monthly custodian fees
Hence, there’s no worry about being charged additional fees on your capital.
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 commission-free trades within 180 days. Hence, feel free to continue using the brokerage for the next 6 months without worries.
Both brokerages can be easily funded from DBS/POSB accounts and the withdrawal process is as simple too.
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!
(Update: With the Student promotion for Moomoo, you only need to deposit $1000 instead of $2700 to get your $240 reward!)
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!
I personally uses Tiger Brokers bc it’s so easy to use + fast deposit + fast withdrawals!
I have transferred my portfolio from FSMone over to tiger recently. Simply due to the low trading fee. It will take awhile before you get used to the interface but one thing for sure, in tiger app, you can get all the latest news including news specific to the stocks you are interested in. Thats the best you could ask of.
As for moomoo, i have not tried it but so far the interface seems very similar to tiger. Signed up recently simply because of the free apple stock. If you are interested to sign up any, you can consider using my referral link below.
Basically, for moomoo, sign up and deposit more than 2700sgd to get the free apple stock plus 30SGD cash voucher. As for tiger, deposit 2000sgd or more to be eligible for the free Disney stock
I am using Tiger Brokers myself, as most mentioned, fees/commission will be of your main concern going forward.
If you are heavily into SGX stocks, the no minimum commission features of Tiger Brokers (Extension to 31st December 2021) could be something that might attracts you.
On and off, both brokers will come out with promotions/events(Referral/New Sign-up bonus/gifts)
You should also dabble with their App/Interface to see which provides a better user experience.
Both are similar in UI but moomoo is not transparent in the fees.
They have a lot of hidden charges...
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