Asked on 16 Mar 2020
This MAS registered broker called tiger brokers, saw their advert and seems that their cost of US shares is pretty low though? What are your thoughts on this broker?
Here's the link:
Hi. They are one of the new stock brokers in town licensed by MAS where you can trade S.G., U.S., and H.K. shares. Their trading fee for U.S. shares starts at $1.99. Upon sign up, you get to enjoy 30 days commission free trading. Personally, I prefer their web trading platform which feels faster and more user-friendly compared to the mobile app.
They are licensed with MAS CMS license, backed by Xiaomi and also listed on Nasdaq. As such, I do think it would be fine to park some money and try trading with them.
Anw, they have also listed S.G. shares recently, where commission is chargeable at 0.08% commission with no minimum (custodian basis though).
You may also find out more about their current campaigns here!
Tiger brokers is from china. I think it is fair to say that people may be wary of this fact. Even listed companies like Luckin coffee have suffered scandals and large investor losses
We won't know if they will go the same way MF global did. You will have to trust that they properly separate customer accounts and audits are done by MAS diligently. Fair to say that if Tiger brokers becomes another MF global, the SG gov will surely take a lot of heat for not auditing properly.
My opinion? They are having lots of promo, as is for a new launch. Take advantage of the launch but don't put all your eggs in one basket. I still keep my majority holdings in Interactive brokers.
There are a lot of referral code you can use for the promotion at this post here https://seedly.sg/questions/anyone-has-a-tiger-brokers-referral-code
Lastly, do your own due diligence, you will see a lot of account trying to promote their referral code everywhere on. Check their post history and make sure they are giving you an objective answer
Dear David, I believe Tiger Brokers is a safe platform to use, just confirmed on their website, the Tiger Brokers is a listed company in NASDAQ and MAS regulated in Singapore (MAS is the integrated regulator and supervisor of financial institutions in Singapore), also, please pm me if you have invite code, they have invite promotions and 30-day commision free card for new users
Following up on this too! Want to put my 2 cents worth in this, I have seen the ads but I am kind of afraid to use this. I think Tiger Brokers is a China-backed company and given that it is so new, I am not sure if the brokers inside are good or bad. I have my doubts about them especially during this covid situation.
Yes, they issued ETF TQQQ
nice thing, only AUM too low,
and then they offer brokerage service
maybe not needed, when there are much
bigger and time-tested competitors
... and the current C-crisis will elicit not only a few insolvencies, sadly ...
14 Apr 2020
Have used it - seems legit.
Use this link for stock Vouchers up to S $ 100 + 30-day Commission-free Card + US stock LV2 Quote Card:
Hello, been using tiger for two to three weeks now. Commission is indeed cheap compared to other brokers. Good for those with small fund and just starting like me. Made multiple trades for several stocks and i paid in total the same fee i will pay for one trade for other brokers. Only cons is it is new. I asked them how safe it is and they said my investment is saved in a third party account. Just need to closely monitor if it is indeed a good broker for the long run.
You can try it and use my below referral, both of us will benefit.
Lucky so far because all of the stocks i bought last two weeks ago are up by 7 to 10%. :)
Given a choice, would you consider Tiger Brokers Singapore as an alternative partner broker?
I am currently using it due to its lower cost compared to the rest of the broker. You can PM me for the referral code.
Don't think anyone will know for the answer for certain about question 1. I recommend you just contact tiger brokers via 6950 0591 on whatsapp to ask. This is the number stated on their website.
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