Tiger Brokers is a Chinese online brokerage firm founded in 2014. It aims to provide a user-friendly and innovative trading platform for investors around the world.
The company has quickly gained popularity among traders due to its low fees, advanced technology, and excellent customer support. In this review, we will take a closer look at Tiger Brokers’ features and services, and see if it lives up to its reputation.
Account Opening and Verification
Opening an account with Tiger Brokers is a straightforward process. You can sign up through the company’s website or mobile app, and the whole process takes only a few minutes.
However, there are some restrictions on who can open an account with the company. Currently, Tiger Brokers only accepts clients from selected countries, including the United States, Australia, New Zealand, Singapore, and Malaysia. Additionally, you need to verify your identity and residency by providing some personal information and documents.
Trading Platform and Tools
Tiger Brokers offers a range of trading platforms, including the Tiger Trade app, Web Trade, and the Desktop Trade Pro. The Tiger Trade app is the most popular platform and is available on both iOS and Android.
It provides an intuitive and user-friendly interface that allows traders to execute trades quickly and easily. The app also provides access to real-time quotes, news, and financial data, which are essential for making informed trading decisions.
In terms of trading tools, Tiger Brokers provides a variety of technical analysis and charting tools to help traders analyze market trends and patterns. These include popular tools like Moving Averages, MACD, and Bollinger Bands. Additionally, the company offers a social trading platform called Tiger Social, which allows traders to share trading ideas and strategies with each other.
Fees and Commissions
One of the most significant advantages of trading with Tiger Brokers is its low fees and commissions. The company charges a commission of $0.01 per share, with a minimum commission of $1.99 per trade.
This means that traders can save a significant amount of money on commissions compared to other online brokers. However, there are some other fees that traders need to be aware of, such as the inactivity fee, which is charged if you don’t trade for a certain period.
Customer Support
Tiger Brokers provides excellent customer support to its clients. The company offers a 24/7 online customer service chat, which allows traders to get help with any issues they may have.
Additionally, the company has a comprehensive Help Center on its website, which provides answers to frequently asked questions and guides on how to use its trading platforms and tools.
Conclusion
Overall, Tiger Brokers is an excellent online brokerage firm that provides traders with a user-friendly trading platform, low fees, and excellent customer support. The company’s advanced technology and range of trading tools make it an attractive option for both novice and experienced traders.
While there are some restrictions on who can open an account with Tiger Brokers, if you are from one of the accepted countries, it is definitely worth considering.