Tiger Brokers 2022 Review: Super-low Fees for International Trading, But Is It Safe to Use?

Super Cheap International Broker but Can You Trust It? Tiger Brokers is an international online brokerage firm that provides investors with a seamless trading experience. However, with the increasing number of investment scams and fraudulent activities, investors are skeptical about the security and reliability of such platforms. In this Tiger Brokers review, we will explore the broker’s key features, pricing, and customer support to determine whether it’s worth investing through the platform.

– Competitive pricing: Tiger Brokers offers some of the most affordable trading fees in the market. It charges a flat commission rate of only $0.99 per trade for US stocks, which is significantly lower than what most traditional brokers charge. This makes it an ideal platform for investors who are looking to trade frequently and incur minimal costs.

– Wide range of investment products: The broker provides investors with a diverse range of investment products, including stocks, exchange-traded funds (ETFs), options, futures, and fixed income securities. This variety enables investors to create a well-diversified portfolio that aligns with their investment objectives and risk tolerance.

– Superior technology: Tiger Brokers leverages cutting-edge technology to offer its clients a seamless trading experience. It provides investors with a user-friendly mobile app and web platform that are equipped with advanced features such as real-time market data, customizable watchlists, and alert notifications. Additionally, it uses top-of-the-line security protocols to protect investors’ sensitive information and prevent unauthorized access.

Hi how’s it going everyone my name is hank and welcome back to the channel now in this video i’ll be doing a review of one of the newest brokers in new zealand for trading international shares and today we’re going to be looking at tiger brokers uh we’ll be going over

Their features benefits fees the signing up process and pros and cons of the platform to see whether or not this is a good platform to use for you tiger brokers were initially founded in 2014 in china with the aim of helping investors to invest in chinese stocks that are not easily

Accessible to foreign investors so as you may or may not know foreign investors cannot directly invest in chinese market since then tiger brokers have expanded to many other countries and currently they allow investors to be able to trade in markets from five different countries and this includes the u.s market which

Has five different stock exchange the including the new york stock exchange and the nasdaq where most of the big companies are listed such as apple amazon google amongst many others the american exchange the pink sheet exchange and the over-the-counter exchange over-the-counter exchange is a highly speculative market where you can find many penny

Stocks and other very risky investments so it’s definitely not recommended for beginners other markets that they have include the hong kong exchange the uh two big chinese exchange including the shanghai and sentinel exchange the singapore and also the australian exchange so yes you will be able to easily invest in the asx

From new zealand this means that tiger brokers have one of the largest selections of companies and stocks currently available for investors in new zealand much more than the other brokers that are currently available on the market which mostly cater to just one market currently you can sign up to

Tiger brokers in many countries in asia including china malaysia singapore japan and many others and you can also sign up to tiger brokers in europe including countries such as belgium france germany uk and many others and of course in new zealand as well let’s go over and take a look at their

Mobile apps so they have two main types of accounts first one is the prime account which is also a cash account which you make deposits into the account and you buy shares of companies from there you can also trade on margins which means that you can borrow money from the broker and

Carry out trades for a fee but this is highly risky and should not be done by beginner investors you can also trade company options with your prime account and again option trades are risky and you should do lots of research before doing it and again it is not really meant for beginner investors

The second type of account that you can use is a paper account and this is an account where you get 100 000 us dollars in virtual currency and one virtual apple stock for you to test out the system now you can set up a paper account in your account section

And if you’re new to tiger brokers or stock market investing in general i would highly highly recommend you set up a paper account if nothing else just to learn how the tiger broker app works now one of the main downsides when it comes to trading on the tiger broker platform

Is that it does not offer the purchase of fractional shares this means that you can only purchase whole shares of a company and this is fine in most situations apart from if you want to purchase shares of companies such as amazon or google where each year may cost you uh

More than a thousand us dollars and you may not be able to afford that they also offer pre-imposed market trading you can enable there by allowing the fill outside of normal trading hours or disallow it by not allowing it you can trade with limit orders market order stop-loss order

And stop-loss limit price so here you can adjust the limit price that you want to buy and the quantity that you want to buy and then when you everything is confirmed you can place by order overall the mobile app is very simple and very easy to use and it’s definitely

Something that i would really recommend you can easily search for a particular company by looking up the stock name for example if i want to look up tesla i can easily find tesla and if i wanted to buy shares for tesla i can just go to trade

The bottom tab if i want to buy long i could just choose by long and then it will show me a listing of the price that i want to set and the quantity that i want to sit if i want to sell tesla i could also do that by

Clicking on trade and then i could sell tesla from the same option menu the desktop app can look quite complicated and intimidating for beginners and it contains a ton of information if you want to spend some time digging through all the features you can look through the options menu to look at the

Call and put options for the particular stock you can look at the news for the particular company and you can look at posts that other people have posted about the company but for beginners if you don’t want to dig through all this if you only just want to purchase

Or sell the stock the purchase button and the sell button are just at the bottom right hand corner so you can buy the stock and it goes to the similar menu as on the mobile app now let’s take a look at the fees for the platform currently they have a

Special promotion on until the 31st of january where you get a lifetime zero commission for trading u.s stocks if you also sign up using my link below you also get some free credits when you make your first deposit just to help you get started normally the fees for trading u.s shares are

Charged at a per share basis with a minimum amount now before the current promotion this was charged as 0.1 a dollar per share with a minimum two us dollars minimum charge per trade and this is subject to change so i will include the latest fee in the description below so trading in

Different exchanges charges different fees with the australian exchange charging a fee of 0.11 of the value or that you are trading in with a minimum first purchase size of 500 us dollars worth of shares now tiger brokers do not currently charge an exchange fee when you carry out currency conversions now they do

Have an exchange spread of up to 0.5 percent which actually makes them very competitive when compared to all the other brokers they also do not have inactive fees or monthly fees so there’s no reason why you wouldn’t sign up during this promotion period since if nothing else you would still

Secure the xero commission for trading u.s shares if you sign up during this promotion period now let’s talk about a real important subject which is the security of the broker so security is obviously a very big thing you absolutely do not want to lose your hard-earned cash

As one of the newer brokers available to the market it is a natural to ask whether or not tiger broker is safe now tiger broker is actually a publicly listed company on the new york exchange under the ticker tigr under the name up fintech holdings so they are subjected to u.s financial regulations

They’re also licensed to the financial service provider register regulated by new zealand’s financial market authority this means that all tiger broker clients with new zealander register accounts are protected by new zealand’s regulatory framework they are also regulated by monetary authorities in the us singapore and australia the tiger broker

Operates as a custodian which means that the client’s investment is held by an authorized third party the client’s u.s stocks are actually held by interactive brokers which is one of the largest international brokers in the world they’re also backed by the xiaomi group which is one of the biggest cell phone

Makers in the world with more than 20 billion us dollars in terms of assets now by operating as a custodian tiger brokers are able to lower their fee similar to how sharesies which is also operating as a custodian is able to lower their fees their sign up process

Is fairly straightforward but it is a little bit more complicated than other investment platforms uh in new zealand such as jerseys or invest now now you do need photos of your id and bank statement to send them for them when you first sign up you can use my promo code

Hank hustle which is h-e-n-k-h-u-s-t-l-e or an uppercase to receive some free credits after entering your residency details and your tax code you need to select the account type which is tiger prime and then enter your first name and last name residential address and then they will ask whether

You want to apply for a margin account and your trading experience now for beginners it is not really recommended to trade with margin or options and then they will ask you to upload a copy of your id and your online signature after you have set that all up

And your account has been authenticated you can log into your account and go to the deposit section and here you can deposit with new zealand dollars here it’ll show you all the information that you need in order to deposit through your internet banking once you have made the deposit you need

To send a notice to tiger broker for them to check that your deposit has been received now this is probably not as intuitive as other brokers but overall the process itself it’s not too complicated after you have deposited money into your account you can go to the trade page

In your app and go to currency exchange here you can select the type of exchange that you want to do so you can exchange from new zealand dollars into us dollars and you can enter the amount that you want to exchange and then it will give you a estimate

Of the amount of us dollars that you would get so finally let’s have a look at the pros and cons of the tiger broker so starting from the pros you have access to uh different exchanges in five different countries which gives you a huge selection of different companies that you can invest

In they have both a mobile and desktop app the mobile app is very intuitive and while the desktop app is a lot more complicated but it provides you with tons of information including news and also different analysis they have a very competitive fee structures for trading on their different exchanges

Especially with their current zero commission u.s stocks promotion now in terms of cons first off they do not offer fractional shares which means that you need to purchase shares you need to purchase whole shares which may be a problem if you are trying to buy a share that is worth a lot

In one go and while you are using the app itself you might see a lot of chinese characters pop up here and there so there’s still a bit of refining of the mobile app and desktop app in process so there’s a bit of a translation error going on

And the third con that i can find is you need to inform them of your funds transfer so when you have made a deposit it doesn’t just go in automatically you need to actually manually inform that you have made the deposit but overall the system itself isn’t too complicated

So the question now is who is tiger brokers for so tiger broker is for people that would like to be able to invest in many different countries and they would like to do a little bit more research using either their mobile or desktop app currently with their zero commission

Trading on u.s stocks it is definitely worth to give them a go now if you end up liking the platform you can definitely keep on using it but there’s definitely no harm in trying the platform out while they have this special promotion going on and that’s going to be it for this

Review of tiger brokers if you need some more information on how the app works i could uh look into making more videos on how the app or both the mobile and desktop app actually function and how to get the most out of it but that is going to be

It for now and i will catch you in the next one peace

Super Cheap International Broker but Can You Trust It? Tiger Brokers Review 2022 delves into the online brokerage platform that offers low-cost trading services for stocks and ETFs in US and Hong Kong markets. Despite its affordable fees and robust platform features, the article identifies notable concerns and limitations around customer support and safety. Overall, Tiger Brokers may be a suitable option for tech-savvy investors looking for the cheapest possible trades, but those prioritizing transparency and reliable customer service may prefer other brokers with a more established track record.

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