Hello, fellow investor! In this article, we will give an honest review of the Tiger Brokers investment platform.
Some other pros of the platform include frequent promotional offers, the lack of inactivity fees, and an easy account setup process. The most important cons include the somewhat limited offer of financial products (no bonds, CFDs, etc.), the lack of commission-free trading (with some exceptions), and the lack of access to international markets.
Tiger Brokers is an investment broker that gives you access to the US, Hong Kong, Singapore, Chinese, and Australian markets. They offer trading in financial products such as stocks (including fractional shares), ETFs, futures, options, funds, and some in-house products (all of these may vary based on your country of residency).
That’s Tiger Brokers for you in a nutshell! It is important to note that there are some differences when using the platform in different countries. If you wish to learn more about those differences and the platform in general, please keep reading!
Highlights
| 🗺️ Supported Countries | Australia, Hong Kong, New Zealand, Singapore, and many more |
| 💰 Stocks and ETFs fees | Varies by country |
| 📈 Fractional shares | Yes |
| 💰 Inactivity, deposit, and withdrawal fees | $0 |
| 💵 Minimum deposit | $0 |
| 📍 Products offered | Stocks, ETFs, futures, options, funds, warrants (depends on your country of residency) |
| 🎮 Demo account | Yes |
| 📜 Regulatory entities | MAS, SEC, FINRA, ASIC, SFC, and FSPR |
Founded in 2014, Tiger Brokers has since amassed over 9 million users and 2 million account holders. They are regulated by some of the top-tier financial institutions in the markets where they operate and are also listed on the NASDAQ exchange (ticker: TIGR).
They are also backed by prominent companies and investors such as Interactive Brokers, Xiaomi, ZhenFund, and Jim Rogers.
The company currently has offices in Singapore, New York, Beijing, Auckland, and Sydney and employs around 1000 people (with almost half of it in R&D).
Their growth and innovation have helped them to be included on KPMG’s Fintech 100 and C.B. Insights’ List of Unicorn Companies.
It appears that Tiger Brokers is trying to appeal mostly to beginner investors by offering the most popular financial products with low fees through a simple and intuitive platform.
Free share promotional code
Tiger Brokers is currently running a special promotion for our readers in which you can earn free stocks and more (based on your residency). You can learn more about it here.
To activate the promotion, go to their website in your country and use the referral code “hmchoose” or simply click on one of the direct links:
Pros and cons
Pros
- Simple and easy account opening process
- No minimum deposit
- Intuitive trading platform
- Fractional shares are available
- Low trading fees
- No inactivity, custody, account maintenance, deposit, and withdrawal fees
- Frequent promotions
Cons
- Some financial products are missing (bonds, CFDs, crypto, etc.).
- Markets outside the US, Australia, Hong Kong, Singapore, and China are not available
- Fees will be higher for larger trading volumes (being percentage-based)
- No commission-free trading (except during promotions)
- Somewhat limited deposit and withdrawal options
Fees
Tiger Brokers’ fees vary based on your residency. In general, they offer low fees and have a simple fee structure in Australia and New Zealand but a bit more complex in Hong Kong and Singapore.
In general, they charge currency conversion and trading (commission + platform) fees but do not charge custodian, inactivity, account maintenance, or deposit and withdrawal fees.
Additional smaller fees such as exchange fees, service charges, and regulatory fees may be charged. A tiered commission plan for US options is also more favourable for larger option trades.
Below, we have highlighted the most common trading fees, separated by different countries.
Australia
- ASX stocks: 0.025% * trade value (AUD 6.49 min.)
- US stocks & ETFs: USD 0.0099 per share (USD 1.99 min. per order)
- US fractional shares (for less than 1 share): 1% * trade value (1 USD max. per order)
- HK stocks: 0.06% * trade value (HKD 15 min. per order)
- Options: USD 0.95 per contract (USD 2.99 min. per order)
- Currency exchange: 37 bps per transaction for AUD-USD
You can read about their fees in more detail here.
Hong Kong
Commission-free trading is available during the promotional period for HK stocks (platform fees only are charged for US stocks and options). Without the promotion, the most important fees are as follows:
- US stocks & ETFs: USD 0.0099 per share (USD 1.99 min. per order)
- US fractional share: 1% * trade value (USD 1 min. per order) for less than 1 share (standard US stocks fees apply for 1 share or more)
- US options: USD 0.95 per contract + USD 1.98 min. per order
Find more info about their fees, including margin rates, futures, HK stocks, warrants, and CBBCs here.
New Zealand
- US stocks & ETFs: USD 2 flat fee (up to 200 shares; USD 0.01 for every additional share)
- US fractional shares (for less than 1 share): 1% * trade value (1 USD max. per order)
- ASX stocks: AUD 5 flat fee up to AUD 20,000 trade value (0.025% * trade value after that)
- US Options: USD 0.95 per contract (USD 2.99 min. per order)
- Currency exchange: 0.35% per transaction (NZD-USD and NZD-AUD pairs)
Note that some of these fees may be lower (most notably US and ASX stocks can be traded commission-free with the current promotion).
Find info on their fees on financing interest rates, as well as futures, stocks, and options from other markets here.
Singapore
Commission-free trading is available for US, China A-shares, Hong Kong, and Singapore stocks (as well as ETFs, REITs, and similar products from these markets) for 365 days for all new customers. However, a platform fee is applicable regardless (listed below).
- US stocks, ETFs, and fractional shares: USD 0.05 commission fee (0.99 USD min. and 0.5% * trade value max. per order) + USD 0.005 platform fee per share (USD 1 min. per order)
- Singapore stocks, ETFs, REITs & DLCs: 0.03% * trade value commission fee (SGD 0.99 min. per order) + 0.03% * trade value platform fee (SGD 1 min. per order)
- US options: USD 0.65 per contract (commission + platform fee)
- Mutual funds (Fund Mall): commission-free (USD 100 min. entry)
Find more info about the fee structure, including financing interest rates, stocks from other markets, futures, Hong Kong options, warrants, and CBBCs here.
Products and markets
Similar to fees, not all markets and products are available for trading in different countries where Tiger Brokers is available. Some products that are available in all countries include HK stocks, US options, stocks, and ETFs (including fractional shares).
Unfortunately, markets outside the US, Australia, Hong Kong, Singapore, and China are not available on Tiger Brokers.
We have made the following table to make it easier for you to check certain products’ availability in your country:
| Product | Australia | Hong Kong | New Zealand | Singapore |
| US stocks & ETFs | ✔ | ✔ | ✔ | ✔ |
| US options | ✔ | ✔ | ✔ | ✔ |
| ASX stocks | ✔ | ✘ | ✔ | ✔ |
| HK stocks | ✔ | ✔ | ✔ | ✔ |
| SG stocks | ✘ | ✘ | ✔ | ✔ |
| China A-shares | ✘ | ✘ | ✔ | ✔ |
| Futures | ✘ | ✔ | ✔ | ✔ |
| Mutual funds | ✘ | ✘ | ✘ | ✔ |
| HK warrants & CBBCs | ✘ | ✔ | ✘ | ✔ |
Apart from traditional financial products, Tiger Brokers also offers:
- Tiger Vault: a savings account with a variable interest return.
- Auto-invest: automated investing feature with which you can make recurring investments in US stocks and ETFs daily, weekly, or monthly.
- Margin account: using leverage (borrowed funds) to amplify your returns and losses (an annual interest is charged for borrowing funds).
Check the following table for the availability of these products.
| Country | Tiger Vault | Auto-invest | Margin account |
| Australia | ✘ | ✔ | ✘ |
| Hong Kong | ✔ | ✘ | ✔ |
| New Zealand | ✘ | ✔ | ✔ |
| Singapore | ✔ | ✔ | ✔ |
If you are a Tiger Brokers user in Singapore, you will also have access to:
- Tiger Prestige: an invitation-only premium account with perks such as dedicated account support, trading privileges, and members-only seminars and trading opportunities
- Tiger Open Platform: advanced tools and services such as quant trading, third-party app integration, and access to financial advisors
- United Fixed Maturity Bond Fund 1: investing in investment grade bonds with 3-year maturity and fixed returns (SGD 1000 min. deposit)
Safety and regulation
Tiger Brokers is regulated by some of the top financial institutions worldwide. These include MAS (Singapore), SEC & FINRA (US), ASIC (Australia), SFC (Hong Kong), and FSPR (New Zealand).
Also, there are different compensation schemes by region in the amounts of:
| Region | Compensation scheme | Compensation amount |
| United States | Securities Investor Protection Corporation | Up to USD 500,000 (USD 250,000 for cash) |
| Singapore | Fidelity fund | Up to SGD 75,000 per investor per default |
| Hong Kong | Investor Compensation Fund | Up to HKD 500,000 per investor per default |
| Australia | National Guarantee Fund | Capped at 14 percent of the minimum amount of the NGF (up to AUD 500,000 per participant) |
| New Zealand | Depositor Compensation Scheme | Up to NZD 100,000 |
You can find a more comprehensive list of their licenses and regulators here. The company is also listed on the NASDAQ exchange under the ticker TIGR.
Currently, Tiger Brokers is available in 130 countries in the world. People with US, Australia, and New Zealand residential addresses will automatically allocate the account under their respective jurisdiction. All other countries, e.g., the UK, France, and Canada, will have the account opened under their Singaporean license (offer).
Tiger Brokers can open accounts for every country except the below for AML reasons:
- Albania, Azerbaijan, Belarus, Crimea Region, Cuba, Democratic Republic of the Congo, Dominica, Dominican Republic, Egypt, Former South Macedonia, Iran, Iraq, Kuwait, Libya, Myanmar, Nigeria, North Korea, Republic of the Congo, Romania, Russia, Rwanda, Serbia, Slovenia, Somalia, South Sudan, Sudan, Syria, Ukraine, Yemen, Zambia, and Zimbabwe.
However, the company has faced regulatory action in China, where it has been ordered to stop accepting new customers from mainland China in late 2022.
Platforms and tools
Tiger Brokers offers mobile and desktop trading applications, both called Tiger Trade. The mobile app is available for both Android and Apple, while the desktop app is available for Windows and Mac.
The mobile app is simpler and more intuitive but still has all the basic tools needed to start trading. These include research tools, valuation analysis, earnings calendar, and newsroom.
The desktop app offers some advanced options such as profit and loss analysis, stock options trading, in-depth analytics, K-line trends, screeners, and candlestick charts.
In general, the mobile app is more suitable for beginner investors in general and more advanced investors on the go, while the desktop app is more suitable for advanced investors in general.
Account opening
What is Tiger Brokers’ minimum deposit?
Many users (especially beginner investors) will be happy to hear that there is no minimum deposit when opening a Tiger Brokers account.
Deposit and withdrawal options are somewhat limited and depend on your country of residency, but usually include bank transfers and Wise.
Tiger Brokers supported currencies
Supported currencies vary by country of residence, but usually, the USD and the domestic currency (AUD, HKD, NZD, or SGD) are available at a minimum. Tiger Brokers users in Singapore will have access to 8 currencies: USD, SGD, HKD, AUD, GBP, EUR, JPY, and CNH.
Does Tiger Brokers have a demo account?
Yes, Tiger Brokers has a demo (paper trading) account. When opening your account, you will be given an option to choose between a regular (full) or a paper trading (demo) account.
This is especially important for beginners who would like to get familiar with the platform and investing in general before committing real money to it.
How to open a Tiger Brokers account?
The account opening process on Tiger Brokers is simple and not much different from any other platform. You will, of course, have to have your documents ready and head to the Tiger Brokers website. To ensure that you get free stocks and other perks through their promotion, you can use our referral code “hmchoose” or one of the direct links based on your country of residency:
After uploading all the necessary info and documents, you will have to wait for your account to get approved. After that (usually from a couple of hours up to a day), you’re all set to start trading!
User reviews
Although the platform has very few reviews on sites such as Trustpilot, their mobile trading app has many very good reviews on both Google Play (4.3 stars on 6,500+ reviews) and App Store (4.7 stars on 14,500+ reviews).
Out of those customers who rated the app poorly, the most common complaints were technical difficulties, the user interface, and the fund withdrawal process.
However, more often than not, the reviews praise the user experience, simple interface, and low trading fees.
Bottom line
Many factors go into choosing an investment brokerage platform. We have reviewed Tiger Brokers based on the most important and requested ones.
Easy account opening process, simple interface, and low fees will be why many start trading with Tiger Brokers. However, the lack of access to certain markets and financial products such as bonds, CFDs, or crypto may be a barrier for some potential users.
