Tiger Brokers Review (2026)
*Tiger Brokers (Singapore) Pte. Ltd. is licensed by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act (CMS License No. CMS101000). US securities held through clearing partners carry SIPC protection up to US$500,000. Capital is at risk. Trading derivatives, margin positions, and foreign shares involves substantial risk of capital loss.
The Vibe Check
"Tiger Brokers (backed by Nasdaq-listed UP Fintech) is the primary rival to Moomoo and Interactive Brokers across the Asia-Pacific region. If you trade Asian and US equities side-by-side, the **Tiger Trade workstation** is a technical marvel: it offers institutional Level 2 depth on Nasdaq TotalView and Hong Kong books, options analytics, and seamless multi-currency conversions. In Singapore, it holds a critical edge over Moomoo by providing **direct CPF-OA and SRS retirement investing** through its Cash Boost account. But you have to scrutinize their marketing math: Tiger relies on a **two-part fee structure (Commission + Platform Fee)**. While ads claim US stocks cost just US$0.005/share, adding the US$0.005 platform fee creates a **real floor of US$0.01/share with a mandatory US$1.99 minimum order ticket**. For small micro-trades under US$500, that floor pushes percentage drag higher than Moomoo's flat US$0.99 ticket, even though Tiger completely destroys legacy bank brokers on SGX blue chips."
The Fine Print: Valerie's Tiger Brokers Fee Audit
Tiger Brokers quotes its transactional costs through an unbundled two-component model (Commission + Platform Fee). Here is the actual all-in pricing schedule:
| Market / Asset | Tiger Pricing (Comm. + Platform) | Valerie's Audit Notes |
|---|---|---|
| US Stocks & ETFs | US$0.01 / Share (Min. US$1.99) | US$0.005 commission (min $0.99) + US$0.005 platform fee (min $1.00). Both capped at 0.5% of trade value to protect low-dollar micro orders. |
| US Fractional Shares (<1 Share) | 1.00% of Value (Capped at $1.00) | Commission waived on fractional pieces under 1 share. Platform fee is 1% capped at a maximum of US$1.00, enabling $5 fractional buys. |
| Singapore Stocks & REITs (SGX) | 0.06% All-In (Min. S$1.99) | 0.03% commission (min S$0.99) + 0.03% platform fee (min S$1.00). Standard SGX clearing (0.0325%) and trading (0.0075%) pass-throughs apply. |
| Hong Kong Stocks (HKEX) | 0.06% All-In (Min. HKD 15.00) | 0.03% commission (min HKD 7) + 0.03% platform fee (min HKD 8). Standard 0.1% HK stamp duty and SFC/AFRC levies billed as pass-throughs. |
| US Equity Options | US$0.65 / Contract (Min. $1.00) | US$0.35 commission + US$0.30 platform fee per contract. Highly competitive against legacy APAC brokers charging $10+ per ticket. |
| Australian Equities (ASX) | 0.10% All-In (Min. AU$8.00) | 0.03% commission (min AU$2) + 0.07% platform fee (min AU$6). Operates under an omnibus nominee custodial model. |
| CPF-OA & SRS Investing | 0.12% Platform Fee (Min. S$5.00) | Available via Cash Boost account. 0% commission for first 180 days, then 0.12% platform fee for qualifying SGX shares and ETFs. |
| Inactivity & Custody Charges | $0.00 (Zero Custody / Dormancy) | No account maintenance or inactivity tolls. Quarterly SGX sub-custody fee (S$2) is permanently waived. |
| In-App Currency Conversion | ~0.15% – 0.30% FX Spread | Bid-ask currency conversion spread inside the app. Multi-currency balances supported (hold USD, SGD, HKD, CNH, AUD simultaneously). |
*All fees subject to local statutory Goods and Services Tax (e.g., 9% Singapore GST) on commission and platform line items where applicable.
The Core Edge: Two-Part Pricing Decoded, CPF/SRS Retirement Gateway & Level 2 Depth
Tiger Brokers has captured significant market share across Singapore, Hong Kong, Australia, and New Zealand by solving several long-standing pain points of traditional regional banking brokerages:
First, consider the **demolition of legacy banking commissions**. Traditional Singaporean and Hong Kong bank desks (such as DBS Vickers, OCBC, or HSBC) have historically charged minimum commissions of S$25 / US$25 / HK$100 per trade. Tiger's all-in minimum of **S$1.99 on SGX and US$1.99 on US shares** cuts transaction friction by over 80%. On a S$5,000 SGX trade, an investor pays roughly S$5.45 in total fees at Tiger versus S$25.00+ at a legacy bank.
Second, Tiger holds a major regional moat through its **CPF-OA and SRS retirement integration**. While primary rival Moomoo remains ineligible for Singapore's Central Provident Fund Investment Scheme (CPFIS), Tiger allows Singaporeans to link their CPF Ordinary Account and Supplementary Retirement Scheme (SRS) funds to invest in approved SGX-listed index ETFs, blue chips, and REITs. This bridges the gap between statutory pension compounding and modern fintech execution.
Finally, the **Tiger Trade terminal** delivers exceptional analytics. Active day traders gain access to 40-deep Level 2 order books on the Hong Kong Stock Exchange, Nasdaq TotalView Level 2 market depth, pre-market (4:00 AM EST) and post-market US trading sessions, and institutional capital flow trackers showing net accumulation and distribution by global investment houses.
Pros and Cons Breakdown
What We Love
- Massive fee savings over legacy bank brokers (S$1.99 / US$1.99 vs. S$25 bank minimums)
- CPF-OA and SRS retirement investment support for SGX shares and ETFs
- Exceptional Level 2 order-book depth across US, Hong Kong, and Singapore exchanges
- Clean multi-currency cash accounts allowing users to hold USD, SGD, HKD, and AUD
- Zero account inactivity fees and permanently waived quarterly SGX custody charges
- Fractional share purchases available on US equities from just US$1 to US$5
- Regulated by Tier-1 authorities: MAS (Singapore), ASIC (Australia), and SFC (Hong Kong)
Where It Falls Short
- Two-part fee structure masks the real minimum floor: US trades cost at least US$1.99 all-in
- US per-share minimum (US$1.99) is higher than Moomoo's flat US$0.99 platform fee
- SGX shares held in a nominee custodian sub-account rather than direct individual CDP registration
- In-app FX conversions carry a 0.15% to 0.30% bid-ask spread
- Margin interest rates on debit balances can escalate quickly if unmonitored
- App interface is feature-dense and can feel overwhelming for passive buy-and-hold indexers
Valerie's Final Verdict
"Tiger Brokers is an APAC powerhouse that delivers professional trading features at a fraction of legacy bank costs. If you are an active trader juggling US options, Hong Kong equities, and SGX REITs, or a Singapore investor looking to deploy CPF-OA and SRS savings into index ETFs at low cost, Tiger is an outstanding choice. However, pure US equity scalpers should run the numbers: Moomoo's flat US$0.99 platform fee beats Tiger's US$1.99 minimum on smaller parcel sizes, while long-term institutional allocators managing six-figure global portfolios will still find Interactive Brokers' unbundled interbank FX rates and margin tiers mathematically superior."
Open An Account If:
You want to invest CPF-OA/SRS funds into SGX ETFs, actively trade US and Hong Kong equities with Level 2 depth, or want to escape legacy bank broker minimum fees.
Skip It If:
You insist on direct individual CDP registration for Singapore shares (use FSMOne), trade small US stock lots under US$500 frequently (Moomoo is cheaper), or need institutional DMA FX.
Tiger Brokers (Singapore) Pte. Ltd. holds a CMS License from MAS. Capital at risk. Information provided does not constitute personal financial advice.