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Looking to invest in stocks in Singapore? Can't decide between gold, bitcoin, cryptocurrency, US Tesla stocks, SGX, or mutual funds? Whether you are a beginner learning to invest or a seasoned expert in trading, we’ve compiled the best online brokerages available in Singapore for you.
Tiger Brokers is a Chinese online brokerage backed by Wall Street investor Jim Rogers (who lives in Singapore) and US giant, Interactive Brokers. It was founded in 2014 by Wu Tianhua – a founding member of Chinese search engine, Youdao.
Consider Tiger Brokers if you are new to investing. Most brokerages require you to pass mandatory customer knowledge assessment e.g. hold a finance degree, worked in finance for 3 years etc. to open an account. Tiger Brokers offers you the option to take a free SGX online course.
Tiger Brokers is most notably known for its low commission fees, no miscellaneous fees (e.g custody, deposit, withdrawal, currency exchange fees, inactivity fees), attractive sign up promos (e.g. 1 free Starbucks share), and access to a wide range of trading instruments and global markets.
Tiger Brokers debuted in Singapore in 2020 and has since proved to be a popular choice for Gen Z consumers. It is also regulated and licensed by the Monetary Authority of Singapore.
Tiger Brokers is known for their low commission fees, e.g. US$0.01 per share for US Stocks and ETFs, 0.06% of trade value for Hong Kong stocks, 0.08% of trade value for SG stocks, ETFs, REITs, DLCs, 0.06% of trade value for China A-shares, 0.10% of trade value for Australian stocks, and more.
Apart from its low commission fees, Tiger Brokers is also known for its attractive sign-up promos. Past and current promos inlcude a 10% Tesla voucher or a free Apple share for referrals, 1 free Tesla share, 1 free Disney share upon deposit, or 1 free Starbucks share when you open an account.
You'll be able to trade on Tiger Brokers' mobile and desktop apps with real-time stock and market data (a free service), access information of stocks, companies, global economic news and calendar for fundamental analysis, and tools such as one-click trading, PnL analysis, stock options trading, analytics, screeners, and candlesticks.
|Market||Commission Fee||Platform Fee|
|Singapore||0.04% of trade value (no minimum)||0.04% of trade value (no minimum)|
|US||USD 0.005 per share (min. USD 0.99 per order)||USD 0.005 per share (min. USD 1 per order)|
|Australia||0.03% of trade value (min. AUD 8 per trade)||0.07% of trade value (min. AUD 6 per trade)|
|Hong Kong||0.03% of trade value (min. HKD 7 per order)||0.03% of trade value (min. HKD 8 per order)|
|China||0.03% of trade value (min. CNH 7 per order)||0.03% of trade value (min. CNH 8 per order)|
If you're looking to withdraw your funds from your Tiger Brokers account, you can do so via the Tiger Brokers website. Go to "My Account" followed by "Withdrawal". Tiger Brokers does not charge any withdrawal fees. You will then receive your funds within 2 to 3 working days.
Tiger Brokers does not charge any custody (or custodian) fees. Singapore's DBS Bank is the custodian bank for your funds when you invest or trade with Tiger Brokers.
Tiger Brokers currently does not charge exchange rate fees. You can make currency exchange on your Tiger Brokers mobile or desktop app from 6:20am to 4:55am (next day, SG time) in SGD, USD, HKD, CNH, AUD, NZD, EUR, GBP, and JPY.
Current Tiger Brokers promotion includes – get 500 Tiger coins (which can be used to redeem free trades) upon registeration, 60 commission-free trades for US, HK, SG stocks and Futures within 180 days, and 1 free Starbucks share when you make an initial deposit of more than S$2,000.
For fast application, you can simply scroll up to the top of this page and click on "Apply Now". You will be immediately led to the Tiger Brokers Singapore online application form and portal.
If you are a Singaporean or Permanent Resident, you will be able to quickly scan your SingPass MyInfo QR code to automatically fill up all your personal information.
Select if you want to open a Margin Account (for margin trading) or Cash Account (does not support Options and Futures trading; the usual option for most of the common folks like us).
Then, as with all brokerages, you'll be asked for your stock investment experience which includes the number of years, number of trades per year, and your knowledge of investment and trading instruments.
You will then have to choose your purpose or motivation for investing or trading – whether you're here to Speculate, attain Trading profits, Capital growth, to Hedge, generate Income, or seek Preservation for your principal.
Once you complete the application, you will then need to fund your account with a deposit. Do look out for deposit promotions from Tiger Brokers so you can maximise your deposit with free Tiger coins or shares!
Tiger Brokers does not require any minimum deposit from you. However, a minimum deposit of S$2,700, US$2,000, or HK$16,000 will be required to be eligible for sign-up promotions.
If you're thinking of closing your Tiger Brokers account, first withdraw all your fund from your trading account by going to "My Account" on the Tiger website or "Tiger Account" on the app. It will take approximately 2 to 3 working days for the funds withdrawal to be complete. After that, Google for "Cancel Account Tiger Brokers" and click on the official cancel account page. You will be required to click on another secure link and log in to the Tiger Brokers platform to start the process.