Tiger Brokers is an online broker that allows you to trade stocks on the ASX, US and Hong Kong markets, plus US options. With a fast sign-up process and no minimum deposit required, Tiger Brokers offers low fees but comes packed with quality features.
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Tiger Brokers Australia review
By Tim Falk
Edited by Joselle Delos Reyes
- Standard brokerage fee
- US$1.99
- Available markets
- Australia, USA, Hong Kong
- Support
- Phone, Email, Live chat
Our verdict
Trade Australian, US and Asian stocks with low brokerage fees, plus earn up to 3.25% interest on your uninvested cash.
Finder Awards 2024 winner
For the most part Tiger Brokers suits those looking to trade multiple markets all from the same platform. Tiger customers get access to Australian, US and Hong Kong stocks plus US options.
That being said, if you want to trade ASX options, European stocks or other Asian markets, you'll have to look elsewhere. Overall, if you're a retail investor who wants to trade in both Australia and the US markets and you're looking for a platform that's easy to use and has no minimum deposits, Tiger could suit your needs.
Pros
-
Trading Australian, US and Hong Kong stocks
-
US options trading
-
Easy-to-use mobile trading
-
Competitive brokerage
-
No minimum deposit required
-
Real-time streaming quotes
-
Generous sign-up offers
-
High-interest earning cash account
-
CHESS-sponsored accounts
Cons
-
You'll find slightly cheaper brokerage elsewhere for ASX shares
-
Limited educational resources
-
Limited markets available
Details
Platform details
| Type of broker | Online |
| ASX products | Shares, Exchange traded funds |
| Available markets | Australia, USA, Hong Kong |
| Standard brokerage fee | US$1.99 |
| Support | Phone, Email, Live chat |
| Go to site More Info |
Congratulations, Tiger Brokers!
Tiger Brokers received the following awards in the 2024 Product Awards:
- 'Share Trading Platform – Mobile App' - Winner
- 'Share Trading Platform – Overall' - Highly Commended
- 'Share Trading Platform – Australian Equities' - Highly Commended
- 'Share Trading Platform – Active Traders' - Highly Commended
- 'Share Trading Platform – Beginners' - Highly Commended
- 'Share Trading Platform – US Stocks' - Highly Commended
- 'Share Trading Platform – Low Cost' - Highly Commended
- 'Share Trading Platform – Options Trading' - Highly Commended
About Tiger Brokers
Tiger Brokers Australia is a subsidiary of the NASDAQ-listed Tiger Brokers Group, which now has offices in Singapore, Australia, Hong Kong, the US, and New Zealand.
With more than 10 million account holders worldwide, the company offers its own Tiger Trade desktop trading platform as well as a mobile trading app. Tiger Brokers promotes itself as a tech-focused company that develops its own proprietary technology. It also holds an Australian financial services licence.
Why invest with Tiger Brokers?
Tiger Brokers is designed to suit more experienced traders keen to invest in global markets. As well as CHESS-sponsored ASX stock trading, you can also access US and Hong Kong markets listed in Hong Kong Exchanges and Clearing Limited (HKEX) Northbound trading, including options trading.
Tools and features
Tiger Brokers offers a range of features to account holders, including:
- Fast sign-up process. Signing up for a Tiger Brokers account is quick and easy. The registration process is straightforward and there's no minimum deposit required to open an account.
- Proprietary software. Tiger Brokers offers its own proprietary trading platforms – the Tiger Trade desktop platform and a mobile trading app for Android and iOS devices.
- Free market data. Tiger Brokers offers free real-time market data to allow you to monitor price trends and market movements before you trade.
- Trading tools. The Tiger Trade app also provides access to a wide range of trading tools and features, including stock screening, candlestick charts, customisable indicators and profit and loss analysis.
- 24/5 trading. You can trade over 9,500 stocks and ETFs in US markets.
- AI assistant. Use TigerGPT to get research on stocks, market summaries and other useful information.
- Options trading. Access L2 US options trading, including long call/puts, covered calls and cash secured puts.
- High-interest cash account. Tiger offers a fixed interest rate of up to 3.25% at the time of writing for uninvested cash, a relatively rare feature among trading platforms.
- Company information. Users can also access company information, global market news and an economic calendar to help them make informed trading decisions.
- Performance. Tiger Brokers promotes its status as a tech-focused broker, with almost half of all staff employed in research and development and the ability to process 1.68 million trades per second.
- Tiger Token. Tiger Brokers offers its own security app, Tiger Token, which allows you to enable 2-factor authentication (2FA) and provide an extra level of protection for your account.
Which markets can I invest in?
You can use your Tiger Brokers account to trade equities on the following markets:
- New York Stock Exchange (NYSE)
- Nasdaq Stock Market (Nasdaq)
- American Stock Exchange (AMEX)
- Pink Sheet Exchange (PK)
- Australian Securities Exchange (ASX)
- Hong Kong Exchange (HKEX)
You can also trade US options using Tiger Brokers at a competitive price point.
Is Tiger Brokers trustworthy?
Tiger Brokers offers detailed information on its website about how and where it is regulated around the world. It holds an Australian financial services licence and is regulated by the Australian Securities and Investments Commission (ASIC).
While not all of the markets are available to Aussie investors, its overseas operations are still regulated by them. For example, its US asset management arm is a registered investment adviser with the Securities and Exchange Commission (SEC) while its Singapore entity is licensed by the Monetary Authority of Singapore (MAS).
Client funds are held in a segregated bank account that is managed by a custodian.
Recently, Tiger Brokers has updated its services to include HIN (Holder Identification Number) or CHESS (Clearing House Electronic Subregister System) sponsored accounts.
Tiger Trade accounts are CHESS-sponsored, each with a unique HIN. This enhancement is part of the company's commitment to align with Australian market standards, offering increased security for investors. The migration of existing accounts to this system is expected to be complete by February.
Note: The Clearing House Electronic Subregister System (CHESS) is a management system used by the Australian Securities Exchange (ASX). If your account is CHESS-sponsored, it will have a unique holder identification number (HIN).
Think about it like insurance. Under a CHESS model, the shares are in your name and you can update key details. Should anything happen to the broker, you have access to shares.
What are Tiger Brokers' fees?
Tiger Brokers' brokerage fees vary depending on the shares you're buying or selling, as outlined in the table below.
| Instrument | Fees |
|---|---|
| Australian stocks and ETFs | Commission: $2.99 or 0.03% x Trade Value, whichever is greater |
| US stocks, ETFs and options | Stocks:
FX fees:
Fractional stocks:
Options:
|
| Hong Kong stocks and ETFs | Trading commission: 0.06% of trade value (minimum of HKD$15 per order) Platform fee: 0.03% of trade value (minimum of HKD$8 per order) Pass-through fees: 0.002% per share (minimum HKD$2 and maximum HKD$100 per order) |
However, please note that other third-party fees may apply, such as those charged by stock exchanges and regulatory bodies. Check the fine print closely to make sure you’re fully aware of how much your trade will cost.
It's also important to be aware that if you're trading international stocks, currency exchange fees may apply.
How do I sign up?
If you'd like to sign up for a Tiger Brokers account, click the "Open Account" link on the Tiger Brokers homepage and then complete the following steps:
- Choose whether you'd like to register with your email address or phone number, then enter the relevant information.
- Select your nationality, country of birth, country of residence and tax residency.
- Provide your name, date of birth, address, gender and contact details.
- Upload proof of ID, such as your driver's licence or passport and proof of your residential address.
The account will be opened within 3 hours of the account opening application being submitted. However, more time may be required for certain cases.
How do I contact Tiger Brokers support?
If you have a question about your account or a specific transaction, you can contact Tiger Brokers support via:
- Phone
- Live chat
The customer support team is available from Monday to Friday, 9am–5pm AEDT. However, it’s worth mentioning that several users reviewing the Tiger Trade Android app complain about slow customer service response times.
Bottom line
Tiger Brokers has become a serious platform for those wanting to trade shares on global markets. Its desktop and mobile apps are easy to use, there are plenty of trading tools at your disposal and the firm charges competitive brokerage fees.
If you're new to the world of share trading, a platform that offers more educational resources for beginners may be a better choice.
Ultimately, make sure you compare Tiger Brokers with a range of other online share trading platforms before deciding on the best platform for your needs.
This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.
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Thomas Stelzer Finder
September 30, 2024
Hi Sam,
Thanks for your question. Unfortunately Tiger Brokers currently only offers auto-investing on US stocks and ETFs.
Regards,
Tom
Helen McCluskey
October 16, 2023
Does Tiger Broker offer ASX options trading at all and if yes, what are the fees? thankyou
Kylie Purcell Finder
October 16, 2023
Hi Helen,
At this stage Tiger only offers US options. You can check out other platforms that do offer ASX options here: https://www.finder.com.au/share-trading/best-options-trading-platforms
Cheers,
Kylie
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Sam
September 29, 2024
Does Tiger Broker provide auto trading for the Australian market?