This post was written in collaboration with Tiger Brokers Singapore. While we are financially compensated by them, we nonetheless strive to maintain our editorial integrity and review products with the same objective lens. We are committed to providing the best recommendations and advice in order for you to make personal financial decisions with confidence. You can view our Editorial Guidelines here.
Just last year in February 2020, the Tiger Trade application was officially launched in Singapore.
365 days later, let us look back at the various milestones this new mobile brokerage platform has achieved, and how they have helped Tiger Brokers Singapore establish a firm foothold here.
Of course, no birthday bash is without presents! To celebrate, Tiger Brokers Singapore is also offering a slew of first anniversary promotions to its users here. Read on for the full details.
Who is Tiger Brokers?
You’ve probably seen Tiger Brokers plastered on the walls of MRT stations on your daily commute — but what is it, you ask?
Well, Tiger Brokers is an online mobile brokerage that is backed by some big names: Chinese tech behemoth Xiaomi, US-based Interactive Brokers, and investment guru Jim Rogers. You may also know it as UP Fintech Holding Limited.
To date, users can trade various asset classes on Tiger Trade. These include shares, options, futures and funds.
The numbers have probably increased by now, but prior to launching in Singapore, Tiger Brokers — which has been around since 2014 — had over 1.1 million customer accounts (as of 31 December 2020) worldwide. The online mobile brokerage is also available worldwide, with about US$65.4 billion in trading volume for the year ended December 2020.
Tiger Brokers Singapore: Summary of key milestones
Quite a bit has happened in the year following Tiger Brokers’ launch here — which is good news for investors as the platform is constantly evolving and improving. Here is a quick summary of key milestones since Tiger Brokers’ entry into Singapore in February 2020.
- Feb 2020: Launch of Tiger Trade app in Singapore
- Jun 2020: Onboarding of Singapore Exchange
- Dec 2020: Onboarding of the Australian Securities Exchange
- Dec 2020: Launch of Direct Debit Authorization (DDA) online for DBS Bank clients
- Dec 2020: Exponential growth up to 215%
- Jan 2021: Launch of Fund Mall
- Mar 2021: Launch of SGX DLC
- Mar 2021: Partnership with OTC Markets Group
- Mar 2021: Launch of HK Options
Launch of Tiger Trade app
When Tiger Brokers launched here in Feb 2020, it did so with its Tiger Trade app. The latter is a one-stop mobile trading application, known for its low commission rates and trading sum for investing in US and Hong Kong securities, futures and options.
As a dedicated one-stop mobile app, Tiger Trade allows access to global financial markets and lets users manage their own investment portfolio. There’s also round-the-clock support with multilingual customer service during trading hours, as well as tools such as an industry news feed, and a “Calendar” tab, so that users will always stay updated of the latest developments.
Other complementary features include 24/7 financial news updates, data screeners driven by artificial intelligence, and trading charts that are easy to analyse.
Onboarding of the Australian Securities Exchange
Investors on Tiger Brokers can access core trading markets. Currently, the investment brokerage platform has onboarded six stock exchanges:
- New York Stock Exchange
- Shanghai/Shenzhen Hong Kong Stock Connect
- Hong Kong Stock Exchange
- Singapore Exchange
- Australian Securities Exchange
Australian Securities Exchange was recently onboarded in December 2020.
Such access offers Tiger Trade great flexibility and exposure. Even for Asia-based investors who wish to urgently trade US stocks, they’re able to experience a smooth account opening process that may enable them to start trading on the same day.* If these users’ accounts are ready by nighttime, that’s when the US stock market opens for trading.
*Time varies for different individuals.
There are also existing perks for Tiger Trade users. For example, thanks to a partnership with Nasdaq, investors are able to access US market data at minimal to no cost on the Tiger Brokers’ trading platform. They can do this via Nasdaq Basic (free), for real-time trade and quote data of all US-listed equities, including best bid and offer, Nasdaq opening/closing prices, tick by tick price and more. L2 NYSE ArcaBook is also made available for all clients once they have registered an account with Tiger Brokers; or Nasdaq TotalView (about S$35/month), which has more sophisticated insights.
Exponential growth up to 215%
If you always look before you leap, and wait for early adopters to try a new technology or platform before jumping in yourself, here are the perfect proof points of Tiger Trade’s performance:
- New user sign-ups climbed more than 100% quarter-on-quarter in 2020
- There was a 215% increase in trading volume reported in the last quarter of 2020
- The number of new trading accounts opened more than doubled in 4Q 2020, compared to 3Q 2020
In the words of Tiger Brokers Singapore’s CEO, Mr Eng Thiam Choon, “these achievements are a ‘testament’ to the fact that users like and are getting accustomed to Tiger Broker Singapore’s trading platform”.
Launch of Fund Mall
Earlier this year in January, Tiger Trade also launched its Fund Mall, where users can invest in over 100 global mutual funds without having to open a separate, non-linked account.
Through the Fund Mall, investors can now invest in funds that focus on equities, money market instruments and/or fixed income.
Fund Mall is alike ION Orchard where it houses copious and distinguished brands under the same roof. This giant “mall” allows investors like you and me to gain access to popular public funds and “add to cart” with our mobile phone — from the comfort of our sofa.
This was to reduce platform fees for users who would typically use more than one brokerage to achieve the same effect. To achieve this, Tiger Brokers selected public funds from world-renowned custodians with a wide range of fund categories such as money funds, bond funds and equity funds.
What a brilliant way to do so!
Fund Mall is an additional feature that can be accessed via the Tiger Trade app.
Partnership with OTC Markets Group
Another recent development is the partnership of Tiger Brokers Singapore with OTC Markets Group, an American operator of financial markets for 11,000 US and global securities. With this partnership, Tiger Brokers becomes a new distributor of OTC Markets’ Real-Time Level 2+ Quotes.
Through this agreement, Tiger Brokers customers can get convenient access to real-time depth of booking pricing for OTCQB, OTCQX and Pink market securities. This means that they gain detailed insights into the OTC Market (over-the-counter or off-exchange trading) so that they can make better informed trading decisions into the OTC Market.
Tiger Brokers Singapore 1st anniversary promotions
It is Tiger Brokers’ birthday and everyone’s invited! From now till 31 Dec 2021, both new and existing Tiger Traders can enjoy zero commission for Futures trading.
Click on the [month] buttons on the campaign page to receive the monthly commission-free trades for eligible futures during the particular month.
You can check the commission-free trades for eligible futures via [Tiger Trade APP > Me > Promotions & Rewards].
Terms and conditions apply.
This article has not been reviewed by the Monetary Authority of Singapore.
Any views shared with Prospective Clients (“Prospects”) are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects’ investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers in not in a position to verify.
Tiger Brokers (Singapore) Pte Ltd (herein “Tiger Brokers”) may, to the extent permitted by law, participate or invest in other transactions with the issuer of the products referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. The information herein is for recipient’s information only and not an offer to sell or a solicitation to buy. Any date or price information is indicative only and may be changed without prior notice. All opinions expressed and facts referred to herein are subject to change without notice. The information herein was obtained and derived from sources that we believe are reliable, but while reasonable care has been taken to ensure that stated facts are accurate and opinions are fair and reasonable, Tiger Brokers does not represent that it is accurate or complete and it should not be relied upon as such. The information expressed herein is current and does not constitute an offer, recommendation or solicitation, nor does it constitute any prediction of likely future stock performance. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person or affiliated companies. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances. Tiger Brokers assumes no fiduciary responsibility or liability for any consequences financial or otherwise arising from trading in securities if opinions and information in this document may be relied upon.