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We Review Tiger Brokers: Everyone’s Wild About It

Last Updated on June 20, 2022

Source: Tiger Brokers Official Website

What is Tiger Brokers?

Tiger Brokers is a Chinese online brokerage platform founded in 2014 and launched in Singapore in February 2020. Backed by Xiaomi Inc. and Interactive Brokers Group Inc. (IBKR), and regulated by the Monetary Authority of Singapore (MAS), Tiger Brokers is a secure and reliable platform to trade and invest.

In Q2 2021, there were over 1.65 million users worldwide and total trading volume exceeded USD 102 billion.

A one-stop shop for trading

Through Tiger Brokers, account users are able to get live quotes and analyse historical data for U.S, Singapore, Hong Kong stocks, and A-shares.

Tiger Brokers offers detailed information about companies’ latest financials including its income statement, balance sheet, and cash flow. Together, with its valuation, technical, and fundamental analysis, users can use this data to easily make informed investment decisions. Within a few clicks, users will be able to buy or sell stocks based on their judgement.

Source: extracted from Tiger Brokers app

Gamification

To encourage engagement and frequent use of the app, Tiger Brokers has come up with the concept of earning Tiger Coins through mini missions such as signing in every day or reading articles within the app. Tiger coins can be exchanged for a variety of gifts ranging from stock vouchers to commission-free trades, making investing more exciting and rewarding.

Source: extracted from Tiger Brokers app

Review Q&A: We asked a real user about her experience

Who: Kimberly Chan, 23, NUS student

Q: How did you discover this platform?

A: My friend recommended it to me and passed me her referral code so we can both receive free Apple shares.

Q: What was the learning curve like?

A: It took me less than an hour to understand how to buy and sell stocks. The user interface is extremely easy to use. I only used it to buy long-term stocks (intending to keep them for 10 years), and I was able to buy what I wanted quickly. I only check in on my investments every month, and not trading actively.

However, if you are an experienced investor, looking to short sell or analyse  Level 2 market data you might need more time to explore the app.

Q: Does the Tiger Brokers app provide you with the tools to make informed investment decisions?

A: For an investment noob like me, I am incapable of analysing financial statements and hence I look more into other people’s opinions on the stocks’ long term profitabilities to posit my investment decisions.

Though there is a community section in the Tiger Brokers App, I don’t find it effective because most users are (presumably) posting for the sake of earning Tiger coins, and hence I am unable to rely on these moot posts.

Source: extracted from Tiger Brokers app

Instead, I tend to source for opinions outside of the app to decide on what stocks to buy. For example, I would use Reddit where users tend to give more detailed information on why the stock is good or bad compared to one-word posts in the app.

Nevertheless, the forum still helps me to draw inspiration on what stocks are more popular and the general investor confidence.

Q: How did you decide how much to invest?

A: Since there was a requirement of a first deposit of S$ 2,000 to receive the free Apple share, I put in exactly S$ 2,000 as a lump sum.

As a student, I do not have a stable stream of income so I think saving would be a priority for now as I am more risk-averse and am not willing to invest too much into such volatile stocks.

Q: What are your investment goals?

A: I hope to buy a house by 35 so I am trying to maximise my profits through investing for the long-term.

Q: Do you believe Tiger Brokers can be your main investment platform, or a supplement to your bigger tools?

A: Yes I feel that it is adequate for my investment needs as a student. As I start working in the future, I hope to expand to other platforms and spread out my investments such as buying cryptocurrency which Tiger Brokers currently does not offer.

Conclusion

With platforms like moomoo and Tiger Brokers entering the world of investing, it has never been easier for the new generation to get access to financial data and information when they start investing.

While Tiger Brokers provides information and an interface that makes investing easy, it is still pivotal to do enough research and homework.

If you’re new to investing and hope to start with Tiger Brokers, you can join the millions in the community trading.

This post is not influenced or paid by any sponsors but we can do with some support if you sign up through our promo code here.

We have compiled a guide to understand the differences among all the brokerage platforms.

Happy trading, and tell us how it goes!

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