Tiger Brokers Review
Tiger Brokers is an online share trading service for Kiwis. It provides access to international markets including the US, Australia, Hong Kong and Singapore share markets.
Who is Tiger Brokers?
Tiger Brokers is a share trading account that was established in 2014. Since then, it has accumulated nine million users and two million account holders.
Tiger Brokers was introduced to New Zealand in 2015. Tiger Brokers’ aim is to cater to both novice and experienced investors by providing the accessibility of micro-investing platforms combined with more advanced investment options for seasoned traders. Simply put, it caters to new and experienced traders alike.
What can people invest in through Tiger Brokers?
Through your Tiger Brokers share trading account, you can invest in thousands of companies and equities listed across the worldwide stock exchange.
Through Tiger Brokers, you can invest in:
- Shares: When you buy shares, you invest in a particular company, like Tesla or Facebook. Shares can be bought or sold between people on an exchange, which is a market where people can trade shares.
- Exchange traded funds: ETFs are a group of different assets rather than one particular company, but they trade like shares on an exchange. Think of it in terms of a bakery. Buying individual doughnuts is like buying shares. You pay the price for each different kind of doughnut. An ETF is like buying a box of doughnuts, you get all the different types, which can be grouped by a theme.
- US Options
- Futures
- Warrants and CBBCs
Some key features of Tiger Brokers include:
- Competitive transaction fees and currency exchange fees
- Free real-time L2 US market data & click-to-refresh ASX market data
- Pre-market and post-market trading for US markets. (5.5 hours before the market opens, and 4 hours after the market closes)
- Free demo account with US$100K to practise stocks and options investing
- 24/7 access to analytical tools and financial news
- Fractional shares trading available from as little as US$1
Tiger also offers referral and welcome prizes:
- Zero transaction fees four times for US and ASX shares every month, for life
- Zero currency exchange fees for the first NZ$2000 of currency exchanged every month, for life (NZD to/from USD and AUD)
- A NZ$30 cash bonus with the first deposit into your Tiger account, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2000 within seven days of the first deposit.
How much does it cost to invest with Tiger Brokers?
Because Tiger Brokers provides access to multiple worldwide stock exchanges, pricing is market dependent.
US stocks, EFTs and OCT (over the counter)
Tiger Brokers is currently offering a promotional transaction fee for first time investors:
- $0 flat fee for four AU or US share trades per month for life
Otherwise, Tiger Brokers’ standard transaction rate for the US market is:
- US$2 flat fee to buy or sell up to 200 shares. Plus US$0.01 for every additional share after that transaction
Australian stocks and EFTs
Tiger Brokers is currently offering a transaction promotion for first time investors:
- $0 flat fee for four AU or US share trades per month for life
Otherwise, Tiger Brokers’ standard transaction rate for the AU market is:
- AU$5 flat fee to buy or sell up to AU$20,000 trade value and 0.025% times trade value after that per transaction
Hong Kong stocks and EFTs
- HK$15 flat transaction fee to buy or sell up to HKD 25,000 trade value and 0.06% times trade value after that per transaction.
Note there are extra fees including settlement, quotes and trading activity fees.
More information surrounding Tiger Brokers’ pricing can be found here.
How do I sign up to Tiger Brokers?
You can join Tiger Brokers via its website or by downloading the Tiger Trade App.
You will need to provide:
- Your ID details
- Personal information and residential address
- Employment details
- Investment experience
- Nature and purpose
- Tax residence
After the application process is complete, Tiger Brokers will start assessing the information you provided instantly and update you on the progress of your application through SMS and email.
You must be 18 years or older, and living in New Zealand to set up this account.
