Tiger Brokers

Tiger Brokers (TIGR on NASDAQ) is a Singapore-headquartered online brokerage founded in 2014, backed by Interactive Brokers and Xiaomi, with a strong focus on Chinese-speaking investor communities in Singapore, Australia, New Zealand, and Hong Kong. The platform gives retail investors access to US (NYSE, NASDAQ), Hong Kong (HKEx), and Singapore (SGX) markets, with A-share (Shanghai and Shenzhen) access available for eligible accounts. This multi-market access in a single account is the primary differentiator for investors in the region.

The FX cost structure has improved significantly since Tiger's early days. For USD-denominated shares bought from a SGD or AUD account, Tiger charges a conversion spread — previously as high as 1%, now typically in the 0.3–0.5% range depending on the market and amount, with institutional pricing available for higher-volume accounts. This is better than most domestic banks but wider than IBKR's institutional-grade 0.08%.

The mobile app is Tiger's strongest asset: designed specifically for the mobile-first trading habits of its core demographic, the app includes real-time US and HK market data (not always standard), a social feed where users share trade ideas, community-voted watchlists, and a clean portfolio view. The design quality and UX are consistently highlighted in App Store reviews as a differentiator versus older platforms.

Commission structure is competitive: US stocks are commission-free (similar to IBKR Lite and Trading 212), and HK stock trades are priced at HKD 1.99 minimum — among the lowest available for retail investors.

Regulatory standing: Tiger Brokers (Singapore) holds a Capital Markets Services licence from MAS; Tiger Brokers (Australia) holds an AFSL from ASIC; Tiger Brokers (HK) is licensed by the SFC. These are full securities licences, not just exemptions, providing strong regulatory protection for account holders in those jurisdictions.

The main limitation for non-Asian investors: Tiger's infrastructure and community features are optimised for Asia-Pacific investors, and the platform's strengths (HK market access, Chinese-language community) are irrelevant to European or Indian investors who only want US market access. For those users, IBKR or a local platform would be more suitable.