Updated: Nov 14, 2021
In a quest to explore, I have set up a new Tiger Brokerage account. Currently, I am using the IBKR and POEMs account for some time. I will do a seperate review of the another 2 brokerage user experience in another post.
Well, what pulled me in in the first place? As usual, some bargain have drawn me into this Tiger app deal. I have received my free Apple share from Tiger! After all, things are best when it is free? Right?
If you are keen to sign up for a Tiger brokerage account, you may apply via this link and per Tiger app, these are the entitlements that this point of writing:
Free Apple share (with $2,000 deposit)
500 Tiger coins
60 commission-free trades within 180 days
Please note that I will receive stock voucher package of SGD 88 for every referral that make a deposit of $100.
To get started, you will need to :
1. Download Tiger Trade APP, and register an account.
2. Once your Tiger (Singapore) account is approved, you will be rewarded with account-opening rewards.
3. Deposit SGD 2,000 or more (or equivalent in other currencies) into your newly approved Tiger account in a SINGLE transfer during the Promotion Period and you will be rewarded with 1 free Apple (NASDAQ: AAPL) share.
Per Tiger, the promotion will last until 30 Nov 2021 23:59 (SGT).
User Interface Experience
So far, Tiger app interface has proven to be quite user friendly:
I was able to make deposits easily via a click on the "Trade" tab easily. To clarify, they have made it a seamless experience with the new DDA. It is a one-time set up and only take 5 minutes to link up with your bank account. After your account is linked, you will be able to make deposits into your brokerage account by submitting a request in Tiger app. There is no fee charged on the deposits.
Trading wise, it is relatively straightforhward - simply add the ticker that you would like to trade under "Quotes" and click into the ticker to start trading. The "Trade" Button positioning is also quite strategic (they have designed it to be right in the centre).
Trading wise, it is relatively straightforhward - simply add the ticker that you would like to trade under "Quotes" and click into the ticker to start trading."
Another added "mini" perk that I like - Tiger rewards you with Tiger coins daily for ie. sharing quotes, leaving comments. Basically, Tiger reward you for your interaction time. Ultimately, Tiger provides redemption of SGD 88 stock voucher with 18000 tiger coins or a lower hanging fruit - 800 coin for 1 commission-free trade.
Lastly, for the fun, joy and laughter, Tiger allows you to predict if the market is "Bullish" or "Bearish" for the trading day. They allot you a x number of Tiger coins for each bet. From what I can see in the app, the odds of a "Bearish" market is lower than "Bullish" (yes, I do watch the daily news and I have heard about Tesla and all) simpy because the potential amount of Tiger coins to be awarded for a correct guess for "Bearish" market is many times that of "Bullish". (Honestly, I wouldn't count on this too much to earn my Tiger coins because I aint good at market prediction. But hey, a little bit of fun and games wouldn't hurt right?
Overall, I have enjoyed the "Tiger experience" so far with the easy to use functions. I personally think that first-time user should not face much difficulty navigating around the platform.
Please note that this is not a financial advice and this is not in any form a solicitation to open an account with Tiger. As usual, please do your own due diligence before committing any financial resources or to any financial products.