Tiger Brokers Australia review

By   |   Verified by Andrew Boyd   |   Updated 16th March 2022

Tiger Brokers review
  • Tiger Brokers is an online brokerage platform regulated by the Australian Securities and Investments Commission in Australia.
  • It gives customers low-cost access to Australian-listed stocks plus US and Hong Kong exchanges.
  • Discover Tiger Brokers’ features, plus pros and cons.

Tiger Brokers, founded in 2014, is an online broker focused on retail investors across the globe. It is a subsidiary of online brokerage firm UPFintech Holding Limited with offices in China, Singapore, Australia, New Zealand and the USA. In Australia, Tiger Brokers is regulated by the Australian Securities and Investment Commission.

Tiger Brokers claims to have 9 million registered users and nearly 2 million account holders worldwide. The technology-first online brokerage firm offers users its own Tiger Trade desktop and mobile trading app, which simplifies international trading for Australian investors with a fast sign-up process and no minimum deposit requirement.

Read our comprehensive review to learn more.

Tiger Brokers

On Tiger Brokers' website

Tiger Brokers

Highlights

  • Available for ASX, US & HK stocks trading, ETFs, and US options trading.
  • One Free Apple share.
  • More accessible investment to all with a demo account.

See how Tiger Brokers compares against other share trading platforms in terms of commission, market access, tradable assets, and sign up bonuses.

About Tiger Brokers

Having entered Australia's share broking market in 2022, Tiger Brokers is a relatively unknown entity for the average Australian retail investor.

Tiger Brokers was founded in 2014. Its parent company is the Beijing-headquartered UP Fintech Holding, which has been listed on the NASDAQ (NASDAQ: TIGR) since 2019.

Backers include Interactive Brokers, Xiaomi, the ZhenFund, and Jim Rogers, a prominent Wall Street investor you may have seen on YouTube and Bloomberg.

Is Tiger Brokers safe?

In Australia, Tiger Brokers (AU) Pty Limited (ABN 12 007 268 386) is regulated by the Australian Securities and Investments Commission and holds an Australian Financial Services Licence (No. 300767).

They are also regulated to operate in the USA, New Zealand, and Singapore. You can find detailed information about how and where Tiger Brokers is regulated globally on their website.

Client funds are held in a segregated bank account managed by a custodian. For their Australian customers they use CommBank.

Tradable markets and assets

Your Tiger Brokers account will give you access to the following markets:

  • New York Stock Exchange (NYSE): ETFs, options, and shares
  • Nasdaq Stock Market (NASDAQ): ETFs, options, and shares
  • American Stock Exchange (AMEX): ETFs, options, and shares
  • Australian Securities Exchange (ASX): ETFs and shares
  • Hong Kong Exchange (HKEX): ETFs and shares
  • US Pink Sheet (over-the-counter) exchange: Shares

Fees

At the time of writing, Tiger Brokers was not charging any custody costs, deposit or withdrawal fees, inactivity fees, and account maintenance fees. However, you do pay a fee for trading, as follows:

US Stocks and ETFs

  • Trading commission: US $0.0049 per share, with a minimum of US $0.99 per order
  • Platform fee: US $0.005 per share, with a minimum of US $1.00 per order

However, new account holders may get a special offer of free US brokerage fees for three months. Other fees may apply, such as pass-through fees (settlement, SEC and FINRA fees).

Australian stocks

  • Trading commission: 0.025% per cent of trade value, with a minimum of AU $2.50 per order
  • Platform fee: AU $3.99 per order
  • Settlement fee: 0.03% of trade value

Note that Tiger Brokers doesn’t charge any other trading fees, and there’s no minimum order size for Australian stocks at the time of writing, except for the AU $500 ‘minimum marketable parcel’ limit for your first buy order of any share.

Once again, new account holders may be offered zero brokerage fees for the first three months.

Hong Kong stocks

  • Standard brokerage (commission + platform fee): 0.03% of trade value

Other pass-through fees may apply, including HKEK and HKSCC fees, transaction levies, stamp duty and proxy service fees.

US options

  • Standard brokerage (commission + platform fee): US $0.95 per contract, with a minimum of US $2.99 per order

Other pass-through fees may apply, including ORF, FINRA and OCC fees, and exchange fees.

Funding your account

Fund your Tiger trading account via a bank transfer in AUD, USD or HKD, with no minimum deposit limit. Following your deposit, funds can instantly be converted to the currency required for your order.

There is no minimum deposit amount and no fee charged by Tiger, although your bank may charge a transfer fee.

Useful features

  • Tiger Brokers offers its own proprietary trading platforms – the Tiger Trade desktop platform and a mobile trading app with multi-currency exchange feature and powerful trading tools.
  • Being a tech-oriented platform, Tiger Brokers leverages the latest technology to ensure fast signup and high security using the Tiger Token Security App for additional security protection when you enable 2-factor authentication.
  • The all-in-one share trading platform offers free market data to help you monitor price trends and market movements while trading. You also get access to a broad range of trading tools, such as candlestick charts, stock screening tools, profit and loss analysis and other customisable indicators.
  • When you sign up on the Tiger Trade app, you’ll receive a $100,000 virtual fund to practice online stock trading in a demo account before you start trading with your own money.
  • From time-to-time, Tiger Brokers offers sign-up bonuses for new customers, such as a free share.

Pros and cons

Pros

  • Trade stocks in Australia and internationally in the USA and Hong Kong.
  • Extremely generous sign up bonus for a new funded account.
  • Good trading charts and screening in an intuitive interface.
  • Free access to market data to monitor market movements for informed trading decisions.
  • Virtual fund to practice trading before trading with real money.
  • Competitive trading fees to boost your capital gains.
  • No minimum deposit requirement.
  • Learn from the Tiger Community, where you can exchange investment experiences with other investors.

Cons

  • The choice of tradable assets is limited compared to trading platforms like nabtrade and IKBR that offer wider access to international stocks.
  • May not be the cheapest platform for trading US and Australian stocks.
  • Limited educational resources available.

On Tiger Brokers' website

Alternatives

With its tools and market access, Tiger Brokers are aiming for the active investor. If you want to trade a similar range of markets and assets, these are worth considering as an alternative option.

  • ​​eToro. A leading online trading platform for Australians interested in trading international stocks. You can use eToro to trade US stocks, fractional shares, CFDs and top cryptocurrencies, such as Bitcoin, Ethereum, and Dogecoin.
  • Stake. Access to US share markets without the need for a US trading account. The Stake app lists over 3,500 different stocks and Exchange Traded Funds and doesn’t charge you any commission or trading fee for using the platform.
  • SelfWealth. A low-cost platform that provides access to ASX stocks and US markets. It is a well-designed platform with several features for seasoned investors, but there’s a monthly fee you need to pay for using the platform.
  • CommSec. An experienced online broker giving investors access to a wide range of securities. It provides access to Australian-listed shares and 25 leading global markets, including the US.

FAQs

Can I buy OTC stocks on Tiger Brokers?

According to their website, Tiger Brokers gives you access to stocks listed on the Pink Sheet Exchange, which serves as the primary OTC exchange in the United States.

Is day trading allowed on the Tiger Brokers trading platform?

Yes, day trading is allowed for both HK and US-listed stocks. You can also do intra-day trading for Australian stocks.

Can I trade Bitcoin or other cryptocurrencies on Tiger Brokers?

No, in Australia, you cannot trade Bitcoin or other cryptocurrencies on Tiger Brokers.

Does Tiger Brokers offer a mobile trading app?

Yes, you can download the Tiger Trade app on your mobile device to invest in international markets and access a wide range of trading tools and features.

Verdict

Tiger Brokers are often compared to Webull and Moomoo, two trading platforms with a similar mix of tradable markets and assets. The sign up bonus on offer for Tiger Brokers is among the strongest — if not the strongest — of any broker in Australia. Fees for ASX are very competitive with SelfWealth and similar platforms, while the range of assets you can invest in is a level above what's on offer at the likes of Superhero, Stake, and Pearler.

On Tiger Brokers' website