Last Updated on April 14, 2021 by Chin Yi Xuan
As an investor, I have always been looking for the most affordable way to invest in overseas stock market.
This is especially true for me as a Real Estate Investment Trust (REIT) enthusiast, as having affordable access to Singapore, Hong Kong and the US stock market will allow me to invest in many attractive REITs globally.
At the same time, I also have concerns about the regulatory issue of foreign brokers, which of course relates to the safety of my funds.
Well, the good news is, I have finally found a broker â Tiger Brokers, that provides affordable access to foreign stock market, while having strong regulations in place.
I have been using Tiger Brokers for several months now, and hereâs my review:
Feature Highlights:
- Exposure to different markets & instruments with just one account. (Singapore, US, Hong Kong, Australia & China stock market, Futures (soon), Warrants & Options)
- Highly competitive and attractive fees. No minimum brokerage fee for Singapore stocks until 30/4/2021. (more below)
- 100% online account opening & management. No visit to branch needed.
- Strong regulatory background + company is publicly listed on NASDAQ .
- Planning to open a Tiger Brokers account? Hit me up via FB messenger HERE, or via email ([email protected]) for referral link to enjoy account opening rewards!
Tiger Brokers Regulation â How is Your Money Protected?
Letâs address the main concern of most investors when it comes to choosing a foreign broker â is it regulated by a proper/respected authority?
When it comes to their operation in Southeast Asia, Tiger Brokers is regulated by the Monetary Authority of Singapore (MAS), with a Capital Markets Services License to operate a legal brokerage business. Globally, Tiger Brokers is also regulated by the respective authorities from the US (SEC), Australia (ASIC), and New Zealand (FSPR) as well.
In short, Tiger Brokers is a well-regulated broker by proper authorities and is definitely way better than the brokers registered in some random African country.
In regard to money/capital protection, there is strict segregation of clientsâ capital and assets apart from Tiger Brokersâ own capital:
- Clientsâ Capital: Kept by DBS Commercial Bank
- Clientsâ Investment Assets:
– Singapore Stocks: Held by DBS Custodian Bank
– US Stocks: Held by Interactive Brokers
– HK Stocks: Held by Interactive Broker
To summarize, Tiger Brokers is held by a high standard of regulations and accountability towards clientsâ assets and capital. As such, I have no problem recommending Tiger Brokers to fellow investors looking to invest in foreign markets.
Fees/Commission Comparison â Amazing Value & Highly Competitive Fees
Ultimately, what landed me on Tiger Brokers is its highly competitive commission.
While there are local brokers that offer exposure to foreign markets, they are super expensive (high barrier of entry), and the fee details are rarely available on their official websites (not transparent at all). As someone looking to invest affordably in the Singapore, US, and Hong Kong market, Tiger Brokers certainly worth considering.
Below is the commission comparison table of Tiger Brokers alongside some other equally regulated (by MAS of Singapore) alternatives:

How to Open a Tiger Brokers Account?
a. Account Types
There are 2 types of trading accounts offered by Tiger Brokers, namely:
-
- Margin Account (eligibility: 21 â 65 y/o)
Margin Account supports margin trading and short selling (intraday leverage up to 4x; overnight leverage up to 2x).
-
- Cash Upfront Account (eligibility: 18 â 75 y/o)
Cash Account only allows trading stocks with cash. Margin trading and short selling are unavailable.
In short, you invest or trade with what you have deposited in your account.
If you are below 21 y/o currently, you can open a Cash Upfront Account first, then upgrade to a Margin Account once you reach 21, along with a full-time job.
b. Account Opening Process
The account opening process does take some time, but I can assure you that it is simple & straightforward. So, please spare around 15 â 20 minutes out with the documents needed to smoothen your account-opening process.
If this is your first time opening a foreign brokerage account, I highly recommend you to follow the steps below â as Iâll explain some potential terms that you may not be familiar with:
Step 1: Prepare for the Documents/Details
-
- Nationality/Full Name/Current Residential Address/Citizenship/Date of Birth/IC Information
- Employerâs name and address
- Details of assets and income
- Investment objectives and experience
- Proof of Identity (IC/Passport)
- Proof of Residential Address (IC/Residential Estate Certification/Utility Bills – eg. Water/Phone Bill within the past 6 months, showing your full name & address)
- Bank Statement (issued within the past 6 months, showing your full name & address)
Step 2: Hit me up via FB messenger HERE for a referral link so you can enjoy account opening rewards!
When you click on the referral link, the rewards will be automatically applied and you can start your account opening process.
Step 3: Key in Your Nationality & Tax Residency Country. Tax Identification Number (TIN) is your local tax number. If you are still studying, or do not have an account yet, just tick âI donât have a TINâ and state your reasoning.
Step 4: Key in Your Personal Info & Employment Details.
Step 5: Decide if you want to open a Margin Account or a Cash Account, and if you need access to instruments like Futures and Warrants (p.s. just tick âNoâ if you donât know what these are).
Step 6: Read and proceed after you agree to the conditions of the W8-Ben form*.
*What is W-8Ben form?
Filling in the W-8 Form is a requirement by the US Inland Revenue Service for account holders to declare that the beneficiary owner of the amount received from US sources is not of US origin. For clients who want to trade the U.S. markets, they will need to complete this form.
Step 7: Upload the necessary documents.
Step 8: Verify your identity by scanning your face. Follow the steps as shown below:
Step 9: You are done! Generally, the account will be opened within 1 to 3 business days after the account opening application is submitted.
You will receive an SMS & email notification upon a successful account opening. Alternatively, you may log in to Tiger Brokers’ official website to check your account opening status.
How to Fund Your Tiger Brokers Account?
After your account is approved and opened, the next thing that youâd want to do is to fund your account.
If this is your first time, the process may be a little intimidating for you so Iâve created a step-by-step for you below:
Step 1: Log in to your Tiger Trade account
Step 2: Select âMeâ at the bottom right corner > Tiger Account
Step 3: Select âDepositâ
Step 4: Select to deposit in the currency of your choice (SGD/USD/HKD).

Step 6: Youâll be shown the remittance/transfer details. Remember to key in the payment reference correctly when you do your transfer in Step 7!
Step 7: Do the remittance from your bank via FTT. A standard fee will be charged for every FTT transfer. Generally, the transfer will take between 1 â 3 days but from my experience, it only took several hours for my deposit to reflect in my Tiger Brokers account.
One thing to note for all these FTT transfers, is that while Tiger Brokers do not charge for the whole funding process, our banksâ (in my case, Maybank) appointed intermediary bank will be charging a clearance fee (varies according to banks). For me thatâs using Maybank FTT, it is SGD20 for every FTT transfer (in SGD).
In short, the total cost for my FTT transfer via Maybank is Standard FTT fee + SGD20 (SGD transfer)/$30 (USD transfer). Again, this is NOT a fee from Tiger Brokers but it’s a clearance fee charged by the banks.Â
p
Step 8: Inform Tigers Broker to check for your deposit upon transfer + upload transfer receipt
Step 9: You are done! You will receive an email once your deposit is accepted.
Who Should Open a Tiger Brokers Account?
As a whole, Tiger Brokers offers investors exposure to various foreign markets at an affordable package, while retaining the much-needed regulatory aspects at the same time.
As such, Tiger Brokers is suitable for:
1. Investors with some experience in the local stock market, and are looking to diversify to (either/or) the Singapore, US, Hong Kong, China, and Australia market at an affordable rate.
2. Investors that are currently using expensive local brokers to invest overseas, and are looking for a more competitive rate to reduce investing cost.
3. Investors that are ready to invest in foreign markets that want their broker to be regulated by proper authorities.
My Tiger Brokers Experience + Things to Improve
Having used Tiger Brokers for a full 7 months now, my experience with them has been largely decent.
Execution of trades is smooth and fund transfers are also easy. That aside, Iâd want to focus this discussion on 3 particular parts of Tiger Brokers: the mobile app, desktop app & customer support.
(a) Tiger Trade Mobile App
For the most part, I love the mobile app from Tiger Brokers. The interface is relatively simple and intuitive, and most of the functions you need are easy to navigate and find.
Personally, even as someone that does not execute trades on mobile apps (I still prefer web/desktop), I find the design language of the mobile app better than the desktop interface.
(b) Tiger Trade Desktop App
Personally, when it comes to execution, I still prefer to stick with the desktop/web app of my brokers.
That said, at first glance, Tiger Brokers’ desktop app can be a tad more daunting than its mobile counterpart. This is because the layout tends to be more informative compared to the mobile app.
In other words, new investors may get overwhelmed at first. There is some learning curve involved, but it is definitely manageable â and youâll come to appreciate the layout once you are familiar with how everything works.

(c) Customer Support
There are 2 ways to reach out for help to Tiger Brokers, namely via their hotline (tel:+65 6950 0591) or email support ([email protected]).
I have been using the email support service for inquiries many times (personal inquiries & also in preparation for this article), and the response time has been decent. Generally, most of my emails during working hours are responded within an hour or 2, or else itâd be replied the next day.
One thing that I hope could be improved though, is how they explain/clarify questions. There are instances where when I asked about a more technical issue/jargon, and was replied with a more expanded (not simplified) explanation.
With businesses going online nowadays, I think it is more important than ever for companies to invest in improving customer support, especially in understanding customersâ perspectives and providing simplified support to inquiries.
Donât get me wrong though, customer support is truly a hard-to-master art and for the most part, the response from Tiger Brokers team has been helpful â just some points of improvement thatâs all.
(d) Can’t log in to your Tiger Brokers account/platform? [22/1/2021]
Lately, several readers have reached out to me with an issue where they are unable to log in to their Tiger Brokers account/platform.
Personally, I do not have this problem but I am made aware that this is an issue with selected internet providers (eg. Unifi) that randomly blocked out certain sites for no logical reasons.Â
To solve this problem, simply download a VPN application on your computer and phone (eg. Proton VPN, Windscribe, and many more). Then use the VPN software to connect to another country.
Once you have done that, accessing your account shouldn’t be a problem anymore.
Singapore Stocks No Minimum Commission Promo (ending on 31/12/2021!)
If you are keen to invest in Singapore stocks (like myself), youâd love this current promotion by Tiger Brokers.
Until 30/4/2021, Tiger Brokers will be running a No Minimum Commission promo for Singapore stocks. This means that the minimum commission requirement of SGD 2.88 will be lifted only the 0.08% commission rate will apply.
Simply put, assuming you are buying into a stock worth SGD500, your commission paid to Tiger Brokers would be:
- SGD 0.40 (SGD500*0.08%) during promotional period (ending 31/12/2021).
p - SGD 2.88 after the promotional period (which to be fair, is still the most affordable in the industry).
For me, Tiger Brokers is a no-brainer since I have been looking around for an affordable way to invest in Singapore REITs with the intention to expand my portfolio.
p
Tiger Coins – Tiger Brokers’ Built-In Reward System
Tiger Brokers has recently launched its built-in reward system – Tiger Coins, where you can collect when you complete certain tasks.Â
With Tiger Coins, you can redeem attractive rewards from Stock Vouchers to commission-free trades!

No Money Lahâs Verdict
So here you go â my in-depth review of Tiger Brokers!
As someone looking to gain exposure in foreign markets, Tiger Brokers is truly a good overall package that offers highly competitive fees with solid regulatory backing.
Having invested in Tiger Brokers for several months now, Tiger Brokers is my go-to broker for foreign stock investments and I have no problem recommending them to anyone that is keen to gain foreign market exposures â all without paying expensive commissions.
If you have any questions on Tiger Brokers, feel free to leave a question in the comment section below! Constructive feedbacks are welcomed as well đ
Keen to open a Tiger Brokers account?
If you find this guide useful and are planning to open an account, hit me up via FB messenger HERE, or via email ([email protected]) for referral link to enjoy account opening rewards!
Doing so will help support this blog, while entitling you to multiple account-opening rewards. Â
—
Read more: How to make your first trade on Tiger Brokers?
p.s. This post contains affiliate link(s). As always, Iâd only recommend tools and financial solutions that I personally use AND/OR are interesting & provide unique value to my readers. Every article takes a long time and effort to write and when it comes to financial solutions, Iâll only invest time in writing about good and relevant products.
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Chin Yi Xuan
Hi there! I am Yi Xuan. I am a writer, personal finance & REIT enthusiast, and a developing trader with the goal to become a full-time funded trader. Every week, I write about my personal learnings & discovery about life, money, and the market.
Hi Yi Xuan, very comprehensive review, thanks! Have you ever considered eToro, what are your thoughts vs Tiger Brokers?
Hey Joel!
Thanks for checking out this review – appreciate your time and comment!
Yes, etoro is certainly within my consideration. That said, at this moment in time, I am looking to invest in the SG, US and HK REIT market as well so I am more in need of a platform that allows me affordable access to these markets.
As such, Tiger Brokers is a clear choice for me in this regard due to its flexibility and offerings.
Hope this is helpful! đ
Yi Xuan
Thank you for comprehensive review. From your experience, how long does the Tiger brokers take To confirm the deposit/ withdrawal of fund?
Hey Patricia!
Thanks for reaching out and hopefully you find this article useful!
As I shared in this article (https://nomoneylah.com/2020/10/30/tiger-brokers-review/#How_to_Fund_Your_Tiger_Brokers_Account), my deposit usually takes less than a couple of hours to be recognized and reflected in my account – though the official site states 1 – 3 business days.
I have yet to attempt a withdrawal yet but it is also 1 – 3 days as according to Tiger Brokers site.
https://www.tigerbrokers.com.sg/help/detail/funds-withdrawal
Hope this helps!
Yi Xuan
(p.s. do consider using my referral link if you are opening an account: https://www.tigerbrokers.com.sg/?invite=NOMONEYLAH)
Thanks the prompt response. Usually we can deposit the fund (transfer money using Foreign telegraphic transfer via local bank) and convert to USD when transfer to DBS bank? Sorry, it will be my first time.
Cheers,
Patricia
Hi Patricia,
When you are funding your Tiger Brokers account using FTT via local bank, you can choose to deposit in SGD/USD or HKD. Meaning, you can choose which currency to convert at the very start. đ
The steps are shown here: https://nomoneylah.com/2020/10/30/tiger-brokers-review/#How_to_Fund_Your_Tiger_Brokers_Account
Hope this helps!
Yi Xuan
Thank you!
Welcome! Any ques feel free to let me know đ
Yi Xuan
Hey, I want to ask. What is the minimum deposit and what do you think about Etoro?
Hi Terry,
As per my understanding, there is no min. deposit for Tiger Brokers but I do recommend you to have a healthy amount of capital to do your transfer as FTT transfer can be costly for small capital size (eg. a few hundred ringgit).
Etoro is certainly within my consideration in the future considering the $0 commission trades. That said, at this moment in time, I am looking to invest in the SG, US and HK REIT market as well so I am more in need of a platform that allows me affordable access to these markets.
As such, Tiger Brokers is a good overall choice for me in this regard due to its flexibility and offerings.
Hope this is helpful! đ
Yi Xuan
Thanks a lot đ
Hi Yi xuan,
Thank u for the helpful review.
If we buy the stock via tiger broker, are we buying the underlying asset or CFD?
Hi Shirley!
If you buy a stock via Tiger Brokers, it’d the underlying asset, not CFD đ
Hope this helps! đ
Yi Xuan
(p.s. do consider using my referral link if you are thinking of opening an account: https://www.tigerbrokers.com.sg/?invite=NOMONEYLAH)
Hi Chin,
I have been looking for sometime the fact that the purchase is not a CFD. Is there any official link from Tiger Broker on this?
Hi Soo,
I got this info when I ask the customer support. You can also reach out to the customer support with this question via the email here: [email protected]
Hope this helps!
Yi Xuan
Hi Yi Xuan,
Thanks for the informative write up. Do they also have automatic savings plan where they deduct a fixed amount of money each month to be invested into stock of choice? Thanks!
Welcome, hopefully you have found this article useful! đ
In regard to your question, nope there is no such function, at least not as I am aware of.
Yi Xuan
Hey Yi Xuan. Really helpful article. Hope you could clarify a few things here.
1. Besides the service fee charged by local banks for FTT, is there any other charges by Tiger Brokers if we deposit money from local bank to Tiger Brokers? (I read somewhere that you will be charged 25USD per transaction. Not sure is it true.)
2. If we have SGD inside Tiger Brokers already and we would like to trade in USD, can we change from SGD to USD inside Tiger Brokers? Is there any conversion fees?
Hey man!
1. For deposits, there is no charge from Tiger Brokers’ end. Charges will be from the FTT fees from our bank (for me is Maybank), and also the appointed intermediary of our bank for clearance (varies according to banks, for me is SGD20/transfer).
2. Yes, there is an exchange function/facility within Tiger Brokers system where u can purchase stocks in USD even when your deposit is in SGD. Essentially, when you do so Tiger Brokers is providing you the facility and hence will charge an interest. So what you’d need to do is to convert what you owe back to the stock currency after that.
This is a topic that needs an article so I think I will update this part when that article is out yea! đ
Yi Xuan
Hi Yi Xuan,
Nice and knowledgeable contents, as always.
1) Wondering that do Tiger Broker available for subscribing foreign IPO? If no, any other recommendation?
2) Would like to know further more about Level 2 Data that you mentioned above.
Thanks in advance!
Hey Marcus!
Thanks and appreciate your support!
1. Currently, online IPO subscription is not supported by Tiger Brokers. If there are specific stocks’ IPO that can be subscribed, Tiger Brokers will generally know one week in advance, and customers that have S$200,000 in assets and can contact Tiger Brokers to apply for that IPO.
I am not sure about IPO subscription for foreign stocks as I never participated in one before, hence I might not be able to share more on this. Sorry man!
2. Sure thing! Will work on an article for Level 2 soon! đ
Yi Xuan
I Yixuan,thanks for the review.I was wondering how do you compare tiger to td ameritrade,heard they are now launching0% commission rate for US stock. 2)Is our US stock safe when tiger bankrupt?
Hi there!
Glad that this review finds its way to you!
1. ThinkOrSwim is no doubt better in fees for US stocks. Personally, I am also a TDA user but the experience has been so-so since Schwab’s acquisition (eg. cannot log in). Tigers may not be free comm. but the offerings (exposure to all US, SG, HK market) are what i need as I am looking for an affordable way to expand my global REIT portfolio.
In short, it is really what you want and need as an investor. đ
2. Tiger Brokers’ clients’ capital and assets (stocks) are under the care and custody of Banks and reputable partners like DBS and interactive brokers. Safe to say that your assets are all well protected if anything were to happen to Tiger Brokers.
https://nomoneylah.com/2020/10/30/tiger-brokers-review/#Tiger_Brokers_Regulation_%E2%80%93_How_is_Your_Money_Protected
Hope this helps!
Yi Xuan
Do you know if tiger brokers have the PDT (pattern day trading) rule?
Hi Philip,
Based on my understanding, the PDT rule is applicable to any broker participating in the US market. However, you can skip the rule by opening a cash account instead of a margin account with Tiger Brokers since PDT is only applicable to margin accounts.
Hope this helps!
Yi Xuan
Hi XI Xuan,
regards tiger broke apps, how i going to deposit fund into it, i a maybank user please ask for advise ty.
Hi Brian,
I have written about the funding process to Tiger Brokers in detail below, do check it out! đ
https://nomoneylah.com/2020/10/30/tiger-brokers-review/#How_to_Fund_Your_Tiger_Brokers_Account
Yi Xuan
Hi Yi Xuan,
The example you gave is FTT to SGD. How about FTT to USD? What is the charges?
Hey man!
FTT fee from local banks is the same (RM10) regardless of currency. It is a service charge, not a charge on the exchange rate. The exchange depends largely on the FX rate of each bank – that you got to check at your own bank’s site.
Also to note is that there is a clearance fee charged by the intermediary bank appointed by our local bank in Singapore. For me, it has been SGD20 but again, it depends on the bank that u are using to do the FTT.
All in all, Tiger Brokers do not charge any fees, and all the funding charges are from the banks’ side.
Hope this clears things up for you đ
Yi Xuan
Hey Yi Xuan! Your fellow ex-classmate here from 4S2/5S2 here. Really enjoy your content and I love what you’re doing. Please keep sending me emails haha đ
It’s the first time I hear about Tiger Brokers because most of the time it is Robinhood, eToro, TD Ameritrade, Trading212 etc.. Personally using Interactive Brokers because of the low commission fees.
Are you using Tiger Brokers mainly for REITs? What about its tax fees as well?
Hey bro haha of course I remember!
Thanks for the support btw!
IB is a good option but over the years I’ve heard that the support and UI are poor, not sure if that’s your experience too?
I am using Tiger Brokers to expand my global portfolio, which currently consists of REITs and potentially some other sectors or ETFs in the future.
What do you mean when you mention tax fees? Do you mean tax on dividends?
Yi Xuan
Haha so far in terms of UI I guess I’m okay with it, managed to get used to it eventually cause that’s the only platform I’m on. Support wise yeah I’ve heard some negative reviews about it but so far didn’t have to contact them yet.
I’m not very familiar with dividends type of investing, because so far I’ve been on growth stocks and since its overseas I cant afford much, so even if there are dividends, they are just peanuts.
The tax here I’m referring to is the capital gain taxes, like from what I know, if you made a profit in the stock market, and when you sell (to realize the profit), there are tax implications, hence generally people do hold it long term to minimize the taxes (according to youtubers), yeah but not sure what are your takes on this? There are also taxes on dividends right?
Hey bro!
Haha yeaaa dividends may look like peanuts at the start, but eventually, they’ll start rolling and make huge progress – it just takes time and consistency. Then again, this is my personal investing preference so take it with a pinch of salt ya!
Base on my understanding, in Malaysia you do not have to pay for capital gain tax for stocks. Dividend wise, it depends on where and what you invest in.
As an example, Malaysia REITs have a 10% tax on the taxable part of their distribution. Then again, the tax has been applied before the dividend reaches your account so there is no more double taxing happening. For SG REITs, there’s 0% tax on dividends.
In short, regardless of capital gain or dividends, there is no need for you to manage any taxes on your end.
Hope this clears things up for you bro!
Yi Xuan
What about dividend withholding tax? Also corporate actions such as dividends could attract handling and agent fees. Does tiger have this problem?
Hi Yi Xuan. Thank you for a wonderful and extremely helpful article. I will definitely use your link to apply for my account. Will contact you here if there are any hitches. Meantime keep writing to educate others who have similar interests.
Hey Jasbir,
Thanks for your comment and glad that you find this article helpful! For sure, please reach out if you have any issues or questions yea!
Btw, I have written a guide on how you can make your first trade on Tiger Brokers, definitely check it out below!
https://nomoneylah.com/2020/11/06/buy-your-first-overseas-share/
Yi Xuan
I received an email saying that my account is approved but can’t seem to log in as their website seems so laggy. It just goes round and round. What should i do? I downloaded the app on my ipad and logged in but they keep directing me to open an account. Went to “me” and clicked but no icon saying “deposit”. At a lost now. Tried life chat but can’t even open their website. Is it always like that?
Hi Yi Xuan,
I just submitted my account using your link. Hope all goes well.
Jasbir.
I received an email saying that my account is approved but can’t seem to log in as their website seems so laggy. It just goes round and round. What should i do? I downloaded the app on my ipad and logged in but they keep directing me to open an account. Went to “me” and clicked but no icon saying “deposit”. At a lost now. Tried life chat but can’t even open their website. Is it always like that?
Hey Jasbir,
Things seem fine on my end.
Are you using this site to log in? If not, do give it a try. https://www.tigersecurities.com/profile/
Their android app works well for me too. You can also try logging in using their desktop app and see how it goes.
https://www.tigerbrokers.com.sg/download?_ga=GA1.2.1322045700.1595819809&lang=en_US#pc
Once you log in successfully, the deposit function is under the ‘Tiger Account’ function under ‘Me’. You can check out my step-by-step guide here: https://nomoneylah.com/2020/11/06/buy-your-first-overseas-share/
Yi Xuan
Hi Yi Xuan,
Tks for the informative writeup, would like to check with you:
1. Can the dividends be auto-reinvested via tiger brokers
2. Would like to know more about the Level 2 Data that you mentioned above
Hi Van,
1. No as far as I am concerned (at least for the stocks that I am invested in). But it’s best to write to them and confirm it. ([email protected])
2. Will write an article to cover about level 2 soon đ
Yi Xuan
Any way to confirm dividend reinvestment?
Hi Hafez,
1. At the moment there is no automatic DRIP for dividends available for Tigers. But I think if it is part of a corporate action then you’ll be notified by Tiger Brokers with the details via email.
2. No fees or tax is charged by Tiger Brokers as per my understanding. Tax on dividends (these are tax charged by respective regulation of the country, not the broker) is usually deducted already prior to being deposited into our account.
Hopefully this is clear đ
Yi Xuan
Dear Yi Xuan
Thank you for the reply. You mention intermediary bank charge of SGD 20. Is this a fixed fee for every amount SGD 100, 1,000, 10,000? Also do you t/t only in SGD? Why not in USD? Would you not lose out more transaction fees to convert?
Regards
Hafez
Hi Hafez,
The bank charge of SGD20 is a variable fee depending on which bank you use to do your deposit. (again, it is a fee by the bank, not the broker)
For me using Maybank transferring SGD, the fee is SGD20 for the transfers that I’ve done so far. Not sure about other banks though.
The reason I TT in SGD is because my main portfolio composition is made up of Singapore REITs and hence SGD makes more sense to me.
You can read more about my portfolio HERE: https://nomoneylah.com/2020/11/12/my-reit-portfolio/
Hope this helps!
Yi Xuan
Is sgd 20 dependent on amount you t/t or the same every time you tt?
Hi Hafez,
So far it’s the same for the amount I transfer to Tiger Brokers.
Yi Xuan
If i deposit the money in SGD, how do i buy US stocks?
Hi Jane,
Tiger Brokers has a built-in exchange facility to help you convert currencies to the ones that you need to invest. Feel free to check out my detailed article here:
https://nomoneylah.com/2020/11/06/buy-your-first-overseas-share/#Can_I_Buy_a_Stock_using_a_Different_Currency
Hope this helps!
Yi Xuan
Hi Yi xuan, I had my tiger broker account registered and approved few days ago. But I’m having problem in deposit fund from my Maybank account. There are a few fields that I don’t know what to fill, e.g. recipient IC number/Passport number. May I know what did you fill in for this field?
And where did you fill in the payment reference and swift code? I could not find field to fill that.
Thanks a bunch!
Hi there,
As far as i am concern, there is no need to input IC/passport number for FTT to Tiger Brokers. Perhaps you can try again, and if you still face the same issue do take a screenshot and email to me at [email protected] and I’ll see how I can help you out đ
Yi Xuan
Hi Yi Xuan,
Nice article for writing out the steps by steps for your readers! However, I noticed 1 thing that there is no withdrawal options provided by Tiger Broker for SGD currency out of Singapore to foreign banks? Then how do I going to withdraw my fund if this is the case?
Appreciate your advise. Thanks!
Hi hi!
Yes you are right. In that case, as per my understanding, withdrawal to non-SG bank account needs to be in USD or HKD and it would be further exchange to local currency upon returning to us.
An alternative for us is to open a CIMB SG account – this is something that I am exploring and will write about it soon! đ
Yi Xuan
Hi Yi Xuan,
Thanks for your nice article. I would like to check with you on things as below:
1. Is the account type which we open a CDS account?
2. Do we need to register a bank account during account opening for receiving a future withdrawal from the trade account?
3. To submit the personal documents, e.g. IC copies, did you make any line cross on it (as usual we do to prevent misuse by other)?
4. if there is any incomplete info or any unforeseen issue causing application for account opening fail, will there be email notification from the customer service to us?
Thank you.
Hi Mickey,
Thanks for reaching out and happy to hear from you:
1. When you open an account with Tiger Brokers, you are also opening a nominee CDS account which allows you to buy and sell stocks. Any stock brokers are also essentially a CDS account, unless stated otherwise.
2. Nope. You only have to input your bank details when you want to withdraw in the future.
3. You can do so for your proof of address documents. For IC, because you need to take a photo of it for identification purpose so I did not cross lines on it.
4. Yes, I think you’ll be notified via email if there is any issue with account opening.
Hope this helps! đ
Yi Xuan
Hi,
May i know will my application for new account be approved if:
1. i am jobless although still have some savings?
2. i do not have tax identification number because i belong to the low income group and never reported my income to lhdn?
Hi Lars,
1. I am not entirely sure but shouldn’t be a problem.
2. During your account-opening process, just tick the option that you do not have a TIN number and state your reason. IF your reasoning is fair then normally should be okay.
Details: https://nomoneylah.com/2020/10/30/tiger-brokers-review/#How_to_Open_a_Tiger_Brokers_Account
Hope this helps! đ
Yi Xuan
Thanks for the post. is certainly helpful. How about guide on how to withdraw money from Tiger?
Hi Quek,
Thanks and appreciate your comment! đ
I have yet to withdraw money out from Tiger Brokers myself as my money is still invested. But I’ll certainly cover this someday!
For now, if you need more details, feel free to check out the official withdrawal guide from Tiger Brokers below:
https://www.tigerbrokers.com.sg/help/detail/funds-withdrawal
Regards,
Yi Xuan
Hi, you mentioned that once opening Tiger Acc. we will received 5 times commision free trade. means they will charge 0 for commision rite? I had traded 4 times on US stocks but each of them were charged with USD 1.99 per trade. Why ah? In my gift box icon there is 0 commision free trades.
Hi Quek,
Yes, once you registered with a referral link you’ll get 5x commission-free trades upon funding your acc. How it works is essentially you’ll still pay for the commission and Tiger Brokers will reimburse you with a cashback.
You’d normally see the reward in your reward center but for your case, I am guessing that you did not use a referral link to open your account? I am not sure if that’s the case exactly but certainly reach out to Tiger Brokers for help on this yea! đ
Yi Xuan
Hi Yi Xuan, thanks for the effort of writing such a comprehensive review! just a quick question, you mentioned that you were charged SGD20 by Maybank, if I am using CIMB, where do i need to go to find out how much do i have to pay for such fee (the equivalent of your SGD20)?
Hi Pearly,
What you can do is to compare the amount that you transfer when you do your FTT on CIMB, vs the amount that is received on Tiger Brokers’ end.
eg. If you transfer SGD1000 to Tiger Brokers and receive SGD980 then the intermediary bank charge by CIMB is SGD20.
You can check the amount received on the app: Me > Tiger Account > Funds Record
Hope this helps!
Yi Xuan
Hi Yi Xuan,
Do you have any information on how much will be charged to you once the dividend from the reit is distributed?
I wouldn’t want my dividend affected by misc. charges that will leave it to almost nothing in the in end.
Thanks.
Hi Faisal,
There are no charges from Tiger Brokers on dividends. The only charges are whether the market that you invest in has withholding tax.
eg. Singapore REIT has 0% tax on dividends and US REIT has 30% tax on dividends.
Hope this clarifies things for you!
Yi Xuan
Hi Yi Xuan,
I have 3 questions.Firstly, would you recommend tiger brokers for investing in low cost index funds in the US? Would we have excess to Vanguard index funds.
Secondly, I do realise investing in small amounts every month is a big no-no since clearance fee charged by the intermediary bank is (lets assume roughly SDG$20) for all banks. So in your opinion how much minimum should we invest at one go? and how often in a month/year? I’m a fresh grad just starting out in investing.
Lastly, if I do invest in low cost index funds, is there anyways to escape the withholding tax charged by US government?
I’m quite new into all this. So pardon me if my questions are noob
Hi Neville,
Thanks for the questions:
1. Yes, you have access to all listed index funds (or ETFs) via Tiger Brokers, such as VOO and VTI.
2. Yes, that’s true. What you can do is to save up a decent amount, then invest. There is no exact amount that is ideal for everyone, but I’d suggest depositing at least RM2,000 (more the better ya) for every funding. Otherwise, for your situation, you can also try out robo-advisor like StashAway and Wahed as you can invest on a monthly basis without funding restrictions, while also get access to ETFs.
One thing though is when you use robo-advisors you don’t get the freedom of choosing your own ETFs aside from your risk profile, so yeah do choose the best option according to your own situation yea!
You can check out my StashAway and Wahed review below:
StashAway: https://nomoneylah.com/2020/02/11/stashaway-review-2020/
Wahed: https://nomoneylah.com/2020/02/21/wahed-review-2020/
3. Nope. US market charges 30% withholding tax on dividends for non-residents. It will be collected before the dividends reach your account so there is no way to go around that.
Hope this helps!
Yi Xuan
Hi Yi Xuen,
I would like to ask if I need to pay Taxes to the government, if I am a Bruneian, but am using malaysia address to invest?
Regards,
Tiong
Hi Tiong,
Thanks for your question! Unfortunately, tax really isn’t my strength here so I’d highly recommend you to reach out to a licensed tax expert on this issue.
Apologies in advance!
Yi Xuan
Hi Yi Xuan, I have just opened my Tiger Margin account via your link. I have a few questions :
1) Margin financing limit : How is this derived ? I plan to transfer my HK shares & HKD from SofiHk to Tiger because the latter offers margin loan to investors like me without a permanent local address. Assuming I have a cash of HKD100K, SGD100k & HK stocks of HKD100K, how much will be my margin loan & in what currency will that be ?
2) Does Tiger charge any dividend fee when we received dividends from our invested stocks?
3) What is the IPO fee like for H & A shares when we submit our IPO application?
I could not find the above said info from Tiger Broker’s website.
Thanks.
WK
Hi WK,
Thanks for your questions and apologies as there are several questions that I think I am not suited to answer due to my limited knowledge in the particular market:
Ques 1 and 3 I’d recommend you to reach out to Tiger Brokers’ customer support as I am sure they’ll be able to better assist you on the matter: [email protected]
Ques 2: No, no fees are charged on dividends. Of course if there is a withholding tax (eg. US charges 30% tax on dividends for foreigners) from the respective market then it’ll be deducted before the dividends reaches your account.
Hope this helps!
Yi Xuan
Hi, nice sharing!
I think the transfer fee (FTT) from local bank to tiger is quite high.
Currently I open CIMB SG account, then use instaRem/transferwise to transfer money from local bank to CIMB SG account, the fee is much more lower!
Hi Nelson!
I am aware of that too! Going to try out your method and write about it soon!
Thanks for the suggestion man!
Yi Xuan
Hi thanks for your info, i have followed the steps and referral link to open the account, all done now pending for approval; may i know how to get the new account opening reward?
Hi Hiew,
You can install the Tiger Brokers app. Once you are in the app, head over to ‘Me’ and select ‘Promotions & Rewards’.
You should be able to view your rewards. Then, click redeem, and do remember to use your rewards within the stated period of time.
Hope this helps!
Yi Xuan
Hi Xuan
is there any beneficiary details need to be filled? As the Tiger account is outside Malaysia and not controlled under malaysia Law. How does the family can claim the money if anything happened?
Hi KS,
Good question. To be honest I have not much knowledge on the beneficiary SOPs for foreign brokers. Will do some research on this and write about it in the near future.
Meanwhile, it’s best to reach out to the customer support and ask for an official response. đ
[email protected]
Yi Xuan
hi,
it seems that some ISPs is blocking tiger app /website on laptop and mobile app. do you experience this? if this continues most likely ISPs will block tiger without any reasons.
Hi Quek,
Personally, I do not have this problem but I am made aware that this is an issue with selected internet providers (eg. Unifi) that randomly blocked out certain sites for no logical reasons.Â
To solve this problem, simply download a VPN application on your computer and phone (eg. Proton VPN, Windscribe, and many more). Then use the VPN software to connect to another country.
Once you have done that, accessing your account shouldn’t be a problem anymore.
Regards,
Yi Xuan
and is tiger broker a live trading platform to view hk and USA stock? Current Malaysia trading platform all delays 15.mins
Yes, Tiger Brokers provide live datafeed for US and HK market. đ
Can I deposit via instarem/transferwise? Must the fund from a bank?
Hi Tony,
Not directly based on my understanding. What some investors do is open a CIMB SG account and fund their Tiger Brokers account so they can save on the fees.
I’ll do more research on this and write about it soon.
Yi Xuan
Hi Yi Xuan,
I’m using Maybank2u to transfer the money into my Tiger Brokers trading account.
Q1: In Maybank2u FTT, there is column to fill in Branch Address. In Tiger Brokers deposit details, there are two addresses, i.e. Recipient Address and Receiving Bank Address. Which one should I fill in?
Q2: Under the Branch Address column, there is a limitation of 35 characters. I cannot fill in the full address. What should I do?
Hi Teck Chuan,
1. Recipient Address: 50 Raffles Place 29 04 Land Tower, 048623, Singapore
2. Branch Address: Marina Bay Financial Centre Tower 3
Hope this helps!
Yi Xuan
hi yi xuan,
was trying to open the account but they asked me to go through a test, is that mandatory as i dint see you mention that we need to go through the test. :C did i click something wrong and i dint choose margin account.
Hi Jia,
Personally, I did not experience the need to go through a test while opening an account. I am thinking this is because during the account opening process they have identified you as a very new investor that could lack the market experience that’s why they ask you to sit through the test.
Perhaps you can re-evaluate your experience while opening the account, or probably get more experience in the local scene until you are more familiar with the capital market to expand overseas?
Regards,
Yi Xuan
hi Yi Xuan,
just wanted to know whether anyone experience unable to connect to tiger broker recently?
Hi Aki,
Yes, recently I have got messages from readers about this issue.
Personally, I do not have this problem but I am made aware that this is an issue with selected internet providers (eg. Unifi) that randomly blocked out certain sites for no logical reasons.Â
To solve this problem, simply download a VPN application on your computer and phone (eg. Proton VPN, Windscribe, and many more). Then use the VPN software to connect to another country.
Once you have done that, accessing your account shouldn’t be a problem anymore.
Regards,
Yi Xuan
Can a malaysian residented in malaysia open Tiger account ? How to pay payment? Please provide more details including the commission charge (brokerage & stamp duty etc)
Hi jacky,
Malaysian can open an account. The funding and commission details can be found in this full review:
https://nomoneylah.com/2020/10/30/tiger-brokers-review/
Regards,
Yi Xuan
My friend received official answer from TD ameritrade that malaysia blocked digi, maxis, unifi and streamyx for both TD and Tiger.
we can only access using VPN or celcom/ time.
Hi Fenhae,
Thanks for sharing! It’s ridiculous why properly regulated sites are blocked and some scammy sites are not lol.
Yi Xuan
the website is down https://www.tigerbrokers.com.sg/ is down.
Are they reliable at all?
Hi Vic,
Thanks for reaching out. There is no official statement from Tiger Brokers yet but I think it could because a few of our local internet providers are doing a weird thing to block sites randomly and Tiger Brokers’ site got into this.
Try connecting to a VPN and see if you can access the site?
Regards,
Yi Xuan
Hi Yi Xuan,
I am using Maybank as well.
I am stuck when filling up transfer details – i have chosen services as purpose – however what should be my sub purpose in this case. I could not identify a suitable option.
Can you help me on this? Appreciate your prompt response. Thanks.
Hi Yasmin,
I chose Private Transfer – other capital transfer.
Regards
Yi Xuan
Yi Xuan,
May i also ask is there any withdrawal charges for withdrawal of funds to Maybank from Tiger broker?
Thank you in advance.
Hi Yasmin,
Yes there are. You can find out the details here: https://www.tigerbrokers.com.sg/help/detail/funds-withdrawal?_casValidated=true
Regards
Yi Xuan
I am thinking of signing up with tb, but am concerned about handling dividends as most of my shares are dividend stocks. Do they charge handling fees for processing dividends received, and if so how much is it.
Thanks for the great review of tb.
Hi Bong!
Good news, there are no fees involved in dividend handling for Tiger Brokers. My stocks are also mainly dividend stocks and I am not charged for dividends by the broker.
Regards,
Yi Xuan
hi yi xuan,
what do you think about webull?
it has commission free.
may i know what you pick tiger broker instead of webull?
Hi Lucas,
I don’t use webull so I can’t tell much about them, but here are 2 reasons why I choose Tiger Brokers over Webull:
1. Tiger Brokers give me access to more market (US, HK, SG, Aus) vs Webull (US).
2. When something is free, then you are the product, don’t you think? Give this a thought – how can Webull make money if they don’t charge you commission? (hint: buy/sell data)
Hope this explains things!
Yi Xuan
Hi Yi Xuan,
May I know what Malaysia local bank are you using ? . The reason I asked is because I noticed that not all local bank will approve your telegraphic transfer to brokers that included with forex. Btw I am using Public Bank. Any suggestion on which bank should I try ?
Hi Cheng,
I am using Maybank/CIMB. Tiger Brokers is not a FX broker and is an equity and futures broker regulated by the Monetary Authority of Singapore. As such, I think the transfer should work.
That said, I am also aware that Public Bank users having problem doing TT to overseas brokers so perhaps you can try Maybank or CIMB.
Hope this helps!
Yi Xuan
Hi Yi Xuan,
May i know do you teach how to sell put option in tiger broker?
Hi Loke,
Unfortunately I am no expert when it comes to options. Best to reach out to Tiger Brokers’ support for guidance. đ
Regards,
Yi Xuan
Hi Yi Xuan,
IS the tiger broker safe? IS withdrawing money easy and how? Do you have clients from the UAE and which bank do you deal with in UAE.
Thank you very much.
Hi Ebrahim,
Tiger Brokers is regulated by the Monetary Authority of Singapore and your funds are deposited with a trustee account. Meaning, it is a regulated broker and is safe by regulation aspects.
Withdrawal is simple, you can follow the steps here: https://www.tigerbrokers.com.sg/help/detail/buy-n-sell
Any bank is fine as long as you can do proper foreign telegraphic transfer.
If you need a referral link for account opening rewards feel free to email me at [email protected] đ
Regards,
Yi Xuan