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Moomoo vs Tiger Brokers: Review and Comparison of the Best Brokerage in Singapore
Online trading is getting more and more popular every day, with a variety of platforms available for everyone. But which one is the best for your needs? In this post, we will compare two of the most popular online brokers in the industry today, Tiger Brokers vs Moomoo.
Tiger Brokers and Moomoo are currently two of the top online trading platforms in Singapore. It’s a big decision picking the right broker, especially when you may have to pay up to $2-$10 per trade on your options or on stocks.
Fortunately, there are two great options out there for us to choose from. But which stock trading brokerage is better? Let’s find out.
- Commission Free Trades: If you’re looking for an online broker that offers commission-free trades, then Moomoo is the right platform for you. It offers 180 days of commission-free trades on US stocks, ETFs, and options.
- Moomoo stands out because it offers commission-free trade for its US securities, plus its welcome bonus offers 180 days of unlimited commission-free trades. However, it doesn’t offer mutual funds, bonds, cryptocurrency, or forex.
- Tiger Brokers, on the other hand, maintains its competitive edge by offering access to global shares in Australia and China. It also removed its deposit and withdrawal fees, inactivity fees, and account maintenance fees. The downside? It has a complex fee structure with 2 tiers – platform fees and commission fees.
Moomoo vs Tiger Brokers: Trading App: Both Moomoo and Tiger Brokers have mobile apps that can be downloaded with ease from the Play Store or Apple Store. With these apps you can monitor your portfolio and place orders anywhere at any time!
Quick Verdict: Moomoo and Tiger Brokers are two of the best online brokerage platforms today. With desktop and mobile trading apps, and an easy sign-up process, these brokerage firms offer easy access to global trading.
Moomoo vs Tiger Brokers In-depth Comparison
Both app offer similar functionalities and great ease of use. We wouldn’t particularly recommend any app over the other as it can come down to individual preference but instead, we would recommend you to take advantage of the current Moomoo Promotion and Tiger Brokers Promotion offering Free Apple Shares (worth $200+) each to try out both Moomoo and Tiger brokerage apps yourselves!
Moomoo vs Tiger Brokers: Trading Commission Fees, Exchanges, Trading Options
| Moomoo | Tiger Broker | |
| Type of Products Available | Stocks
REITs ETFs Options ADRs |
Stocks
ETFs Mutual funds Futures Options |
| Minimum Deposit | S$0 | S$0 |
| Maintenance Fee | US market: $0.005 per share, min $1 per order
SGX: 0.03% of transaction amount, min S$1.50 |
S$0 |
| Number of Exchanges Available | 3 countries | 5 countries |
| Trading Commissions | Lower for SGX
Same for US |
Lower for HKEX
Same for US |
| Exchange Rate | Comparable | Comparable |
| Pre and Aftermarket Funding | Present | Present |
| Ease of Opening Account | Similar | Similar |
| Funding Account Speed | A few hours | A few hours |
| Custodian Account | Did not disclose who their custodians are | As of 8 July 2020, Tiger Brokers Singapore appointed DBS Bank as their custodian bank |
| Overview | |
|---|---|
| Description | |
| Trade markets in Australia, China, Hong Kong, Singapore, and the US. | Trade blue-chip stocks in US, HK and SG Markets. |
| Basics | |
| Account Funding Options | |
| Bank transfer, DDA, FAST, PayNow | Bank transfer |
| Advisory Services | |
| No | No |
| Apps | |
| Android, iOS | Android, iOS |
| Minimum Deposit | |
| $0.00 | $0.00 |
| Minimum Trade | |
| No minimum trade required | No minimum trade required |
| Regulator | |
| ASIC, CMS, FINRA, FMA, MAS | FINRA, MAS, SEC |
| Signup Bonus Gift | |
| Receive stock vouchers and commission-free trades | Enjoy 180 days unlimited commission and get 1 free AAPL share (Terms and conditions apply). |
| Trading | |
| Copy Trading | |
| No | No |
| Crypto Trading | |
| No | No |
| cTrader Trading | |
| No | No |
| ETF Trading | |
| Yes | Yes |
| Forex Trading | |
| No | No |
| Fractional Share Trading | |
| No | No |
| Futures Trading | |
| Yes | No |
| International Markets Trading | |
| Yes | No |
| MetaTrader 4 Trading | |
| No | No |
| MetaTrader 5 Trading | |
| No | No |
| Mutual Funds Trading | |
| No | No |
| Options Trading | |
| Yes | No |
| OTCBB / Pink Sheets | |
| No | No |
| Paper Trading | |
| Yes | Yes |
| Penny Share Trading | |
| No | Yes |
| Social Trading | |
| No | No |
| Share Trading | |
| Yes | Yes |
| Tradable Assets | |
| ETFs, Futures, Options, OTC, REITs, Shares | ETFs, Shares, REITs |
| Tradable Markets | |
| ASX, HKEX, NASDAQ, NYSE, SGX, SSE, SZSE | HK, SG and US markets |
| Fees | |
| Broker Assisted Trades Fee | |
| N/A | $10.00 |
| Brokerage Fee | |
| $0.01 | $0.03 |
| Domestic Wire Transfer Fee | |
| $0.00 | $25.00 |
| ETF Trade Fee | |
| $0.01 | $0.03 |
| Funds Withdrawal Fee (Partial) | |
| $0.00 | $0.00 |
| Funds Withdrawal Fee (Full) | |
| $0.00 | $0.00 |
| International Wire Transfer Fee | |
| N/A | N/A |
| Mutual Fund Trade Fee | |
| N/A | N/A |
| Options (Base Fee) | |
| N/A | N/A |
| Options (Per Contract Fee) | |
| $0.65 | N/A |
| Paper Confirmation Fee | |
| N/A | N/A |
| Paper Statement Fee | |
| N/A | $3.00 |
| Returned Wire Fee | |
| N/A | N/A |
| Spread | |
| N/A | N/A |
| Stock Certificate Delivery Fee | |
| N/A | N/A |
| Stock Certificate Processing Fee | |
| N/A | N/A |
| Stock Trade Fee | |
| $0.01 | $0.03 |
| Order types | |
| Order Type (Contingent) | |
| N/A | No |
| Order Type (Limit) | |
| Yes | Yes |
| Order Type (Market) | |
| Yes | No |
| Order Type (One Cancels The Other) | |
| N/A | No |
| Order Type (One Triggers and One Cancels The Other) | |
| N/A | No |
| Order Type (One Triggers The Other) | |
| N/A | No |
| Order Type (Stop) | |
| Yes | Yes |
| Order Type (Trailing Stop) | |
| Yes | Yes |
| Customer service | |
| Email Support | |
| Yes | Yes |
| Live Chat Support | |
| Yes | Yes |
| Phone Support | |
| Yes | No |
Moomoo vs Tiger Brokers: Company Overview
Futu Moomoo Singapore Introduction
Futu Holdings Ltd (moomoo). (NASDAQ: FTHU) is a global financial services company with a presence in over 25 cities in China, Hong Kong, Singapore and the United States. The Company’s core businesses include electronic brokerage, securities agency, futures agency, investment banking and asset management.
moomoo has been around as early as 2016 but only recently started marketing in Singapore through social media advertisements, blogs and banner ads on news websites in early 2017, offering Free Apple Stock Promotions to entice new users to sign up. Moomoo has attracted over 220,000 registered users and more than 100,000 paying clients in less than three months since entering the Singapore market.
The broker offers free tutorials and has a live chat option for any customer enquiries 24/7.
The key difference between Moomoo and other platforms like DBS Vickers is that it does not have a minimum trading requirement. This means investors can start off small with just $100 by buying 1 share of a stock. They can even set up a “buy now” order if they want to buy more shares of an investment at a later date. In addition, there are no fees for depositing or withdrawing money into your bank account.
Tiger Brokers Singapore Introduction
Tiger Brokers is an online platform for investors of all levels to trade financial products in China and globally. The company is headquartered in Beijing, but it has offices around the world, including Sydney and New York.
The platform offers stocks, ETFs, REITs, funds, and more. Tiger Brokers promotes itself as a tech-focused company and they develop their own proprietary technology. Tiger Brokers has over 1.4 million accounts all over the world.
In recent years, the online Brokerage has also launched various attractive Tiger Broker promotions including giving out Free Apple shares to new users. The company ambitious growth plan is clear with it CEO’s quote: “Our vision is to make investing simpler, more convenient and more transparent. We want to do this by using technology that is simple and convenient for our customers. We are optimistic about our growth prospects in China, and we are excited to expand into the U.S., Australia and Singapore.”
Moomoo vs Tiger Brokers: Trading Markets and Options
Moomoo Singapore Trading Products
You can trade the following on Moomoo:
- Stocks
- ETFs
- REITs
- ADRs
- Options
Aside from single stocks, investors can also trade options (on US and HK stocks) and SGX-listed futures.
With Moomoo, you can trade options from USD $0.65 per contract with a minimum fee of $1.99 per transaction. Plus, they also have a platform fee of $0.30 per contract.
At the moment, Moomoo has a limited portfolio but they have plans to offer a wider range of financial products in the future.
Tiger Brokers Trading Products
You can buy the following products using Tiger Broker’s platform:
- Stocks
- ETFs
- REITs
- CBBCs
- Mutual funds
- Futures
- Options
You can choose to trade using your desktop or mobile. On the platform, you can trade futures and options. Plus, you can use Fund Mall to purchase mutual funds.
Both brokerage do not currently offer cryptocurrency trading on their mobile app.
Moomoo vs Tiger Brokers: Trading Markets
| Stock Markets | Moomoo | Tiger Brokers |
| SGX |  |
|
| HKEK | |
|
| US | |
|
| ASX (Australia) |  |
|
| SZSE and SSE (China) | |
|
As you can see, Tiger Brokers offers more markets – Australia and China.
This makes it attractive to investors who want to trade in global markets. And while it offers access to ASX stocks, it also allows investors to trade in the US and Hongkong markets, plus on China. This is perfect for those who are on the lookout for investment overseas.
Commissions and Fees
In terms of brokerage fees, Moomoo and Tiger Brokers platforms offer very competitive rates. There are two types of fees you need to take into account:
- Trading commission: This is also called a stock trading fee. It is charged when you sell or purchase stocks. You will also be charged with fees for buying or selling other investments, such as ETFs or options.
- Platform fee: This is the fee that many online brokerage platforms charge to investors for using their platform/service.
| Market | Type of Fee | Moomoo | Tiger Brokers |
| SGX | Commission Fee | 0.03% *trade value
Min S$0.99/trade |
0.04% * trade value |
| Platform Fee | + 0.03% * trade value
Min SGD $1.50 |
+ 0.04% * trade value
No minimum (until 31 Dec 2021)
Min $2.88 SGD/trade (after 31 Dec 2021) |
|
| HKEX | Commission Fee | 0.03* trade value
Min 3 HKD/trade |
0.03% * trade value |
| Platform Fee | + 15 HKD/order | + 0.03% * trade value
Min 15 HKD/trade |
|
| US | Commission Fee | USD 0.0049/share
Min USD $0.99/order |
0.01 USD/share
(commission + platform fee)
Min 1.99 USD/trade |
| Platform Fee | + USD 0.005/share
Min USD $1/order |
At a glance, here are the total minimum fees you’ll incur depending on the market:
| Market | Moomoo | Tiger Brokers |
| SGX | Min S$2.49 per trade | No minimum until 31 Dec 2021
Min S$2.88/trade after 31 Dec 2021 |
| HKEK | Min 18 HKD/trade | Min 15 HKD/trade |
| US | Min USD $1.99/trade | Min USD $1.99/trade |
As you can see, trading on SGX, the minimum fee for both Moomoo and Tiger Brokers is attractive and comparable to what their competitors are charging. However, Tiger Brokers have an added edge since it is currently imposing no minimum order until 31 December 2021.
But between Moomoo and Tiger Brokers, which one has lower fees after the promotions have ended?
| Market | Which one is cheaper? |
| SGX | Moomoo |
| HKEK | Tiger Brokers |
| US | Have similar minimum fees |
When choosing between Moomoo and Tiger Brokers, you need to decide which market you’ll be investing in more. For instance, if you prefer to trade SGX, then Moomoo will be cheaper.
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