Focus on Asian Markets: While Tiger Brokers does allow trading in U.S. and global securities, their offerings are most robust in Asian markets, which may or may not align with a given trader's interests or expertise.
Customer Service Hours: Their customer service hours are largely catered to Asian time zones, which may be an inconvenience for some users based in other time zones.
Regulatory Status
Tiger Brokers operates under the regulatory jurisdiction of several prominent global financial authorities.
In the United States, it is regulated by The Financial Industry Regulatory Authority (FINRA) under license No. CRD#: 120583/SEC#: 8-65324.
Furthermore, it holds a license (No. 300767) from the Australia Securities & Investment Commission (ASIC).
The firm also operates under the oversight of the Securities and Futures Commission of Hongkong (SFC), where it holds a license No. BMU940.
In addition, the U.S. Securities and Exchange Commission (SEC) has also granted Tiger Brokers the license No. CRD # 285915/SEC#: 801-114105.
Furthermore, it is regulated by the Monetary Authority of Singapore (MAS).
This extensive regulatory background indicates Tiger Brokers' commitment to adhering to the highest standards of financial operations, providing a reliable trading environment for its clients.
Tradable Securities
Tiger Brokers provides a broad spectrum of tradable securities for its clients. Included in their offering are Hong Kong Stocks & ETFs and an expansive catalogue of over 31,000 U.S. Stocks & ETFs. They also provide access to U.S. Fractional Shares, enabling clients to invest in high-valued stocks with less capital.
Clients interested in derivatives can take advantage of their U.S. Options, and for those looking for commodity trades or hedging opportunities, Tiger Brokers provides Futures. Additionally, secure investment options such as the Tiger Vault and U.S. Treasury bonds are available. For individuals looking at company equity, there's also an opportunity to invest in Initial Public Offerings (IPOs).
Leverage & Margin
Tiger Brokers offers its clients competitive leverage ratios and margin rates.
On stocks, the firm provides leverage up to 1:5, allowing clients to potentially increase their exposure to the market and possibly enhance their potential gains. For Initial Public Offerings (IPOs), the leverage ratio is even higher, going up to 1:20.
In terms of margin rates, Tiger Brokers charges an annual interest rate of 6.8% for Hong Kong Dollar (HKD) and 4.8% for US Dollars (USD).
Remember that while leverage can increase profits, it can also amplify losses. Customers are advised to understand the implications fully before engaging in margin trading.
Commissions & Fees
Tiger Brokers has a structured and competitive commission and fee system.
For HK Stocks & ETFs, they offer a 0 commission, 0 platform fee arrangement, ensuring cost-effective trading for these assets. For trading in US Stocks & ETFs, the platform charges a commission of $0.0049 per share with a minimum of $0.99 per order, in addition to a platform fee of $0.005 per share with a minimum of $1 per order.
For US Options, no commission is charged. The firm also enables clients to start investing in US Fractional Shares with as little as $1. Further, there are no subscription fees or financing interest for IPOs.
More specific fee structures can be found on their official website through the provided link: https://www.tigerbrokers.com.hk/commissions/fees/futures？_sasdk=dMThmMTM2NDgxNWJmNjItMDQ1NGU5NzQ4NDUxYzA0LTRjNjU3YjU4LTEyOTYwMDAtMThmMTM2NDgxNWMxYjk4or the attached screenshot.
Platforms & Tools
Tiger Brokers ensures flexibility for its users by offering trading platforms compatible across various operating systems including iOS, Android, Mac, and Windows. This allows clients to manage their investments conveniently from almost any device.
To enhance trading experience and efficacy, Tiger Brokers also equips its platform with a suite of practical trading tools. These include block orders, enabling traders to place large orders; prices & volumes tool for a comprehensive market overview; position cost to keep track of investments, and large pending order detection. It also features an order book for depth of market information and capital flow analysis tool for understanding market movements. These professional-grade tools contribute to making trading decisions more informed and strategic.
Education
Tiger Brokers certainly places importance on client education, as evidenced by their comprehensive help center. This primarily serves as an educational resource where clients can actively learn trading-related concepts and obtain answers for their questions. It's practically designed with a search function for direct queries and a categorization feature enabling users to navigate through specific fields of interest.
Customer Service
Tiger Brokers believes in providing ample support to its clientele and therefore offers multiple contact channels. You can reach them through phone during weekdays from 9:30 AM to 6:30 PM HKT at +852 2127 0666. For written communication, their email is hk-gcs@tigerbrokers.com.hk.
An additional mode of contact is their online chat, that operates from 9:30 AM to 5:00 AM (next day) HKT during weekdays, catering to clients' needs almost around the clock.
Their physical location is listed at 1/F, 308 Central Des Voeux, 308 Des Voeux Road Central, Hong Kong. These numerous avenues for customer interaction demonstrate Tiger Brokers' dedication to providing effective customer service.
Conclusion
In conclusion, Tiger Brokers serves as a compelling choice for investors looking for extensive investment options, robust trading platforms, and excellent customer service. The firm is heavily regulated by top-tier international authorities, ensuring a secure trading environment for its clients. It offers a diverse range of tradable securities, competitive margin and leverage ratios, alongside comprehensive trading tools, make it a compelling choice for both experienced and novice traders.
Despite drawbacks like Tiger Brokers' primary focus on Asian markets, and customer service hours mainly fitted to Asian time zones, it's undeniable that the pros dramatically outweigh the cons. With great customer service and a robust educational hub, Tiger Brokers undeniably stands out as a prominent contender in the brokerage landscape.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
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