Moomoo vs Tiger Brokers: Review and Comparison of the Best Online Stock Brokerages in Singapore 

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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.

Tiger Broker vs Moomoo Summary
  • 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 

 MoomooTiger Broker
Type of Products AvailableStocks

 

REITs

ETFs

Options

ADRs

Stocks

 

ETFs

Mutual funds

Futures

Options

Minimum DepositS$0S$0
Maintenance FeeUS market: $0.005 per share, min $1 per order

 

 

SGX: 0.03% of transaction amount, min S$1.50

S$0
Number of Exchanges Available3 countries5 countries
Trading CommissionsLower for SGX

 

Same for US

Lower for HKEX

 

Same for US

Exchange RateComparableComparable
Pre and Aftermarket FundingPresentPresent
Ease of Opening AccountSimilarSimilar
Funding Account SpeedA few hoursA few hours
Custodian AccountDid not disclose who their custodians areAs 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, PayNowBank transfer
Advisory Services
NoNo
Apps
Android, iOSAndroid, iOS
Minimum Deposit
$0.00$0.00
Minimum Trade
No minimum trade requiredNo minimum trade required
Regulator
ASIC, CMS, FINRA, FMA, MASFINRA, MAS, SEC
Signup Bonus Gift
Receive stock vouchers and commission-free tradesEnjoy 180 days unlimited commission and get 1 free AAPL share (Terms and conditions apply).
Trading
Copy Trading
NoNo
Crypto Trading
NoNo
cTrader Trading
NoNo
ETF Trading
YesYes
Forex Trading
NoNo
Fractional Share Trading
NoNo
Futures Trading
YesNo
International Markets Trading
YesNo
MetaTrader 4 Trading
NoNo
MetaTrader 5 Trading
NoNo
Mutual Funds Trading
NoNo
Options Trading
YesNo
OTCBB / Pink Sheets
NoNo
Paper Trading
YesYes
Penny Share Trading
NoYes
Social Trading
NoNo
Share Trading
YesYes
Tradable Assets
ETFs, Futures, Options, OTC, REITs, SharesETFs, Shares, REITs
Tradable Markets
ASX, HKEX, NASDAQ, NYSE, SGX, SSE, SZSEHK, 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/AN/A
Mutual Fund Trade Fee
N/AN/A
Options (Base Fee)
N/AN/A
Options (Per Contract Fee)
$0.65N/A
Paper Confirmation Fee
N/AN/A
Paper Statement Fee
N/A$3.00
Returned Wire Fee
N/AN/A
Spread
N/AN/A
Stock Certificate Delivery Fee
N/AN/A
Stock Certificate Processing Fee
N/AN/A
Stock Trade Fee
$0.01$0.03
Order types
Order Type (Contingent)
N/ANo
Order Type (Limit)
YesYes
Order Type (Market)
YesNo
Order Type (One Cancels The Other)
N/ANo
Order Type (One Triggers and One Cancels The Other)
N/ANo
Order Type (One Triggers The Other)
N/ANo
Order Type (Stop)
YesYes
Order Type (Trailing Stop)
YesYes
Customer service
Email Support
YesYes
Live Chat Support
YesYes
Phone Support
YesNo

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 MarketsMoomooTiger 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.
MarketType of FeeMoomooTiger Brokers
SGXCommission Fee0.03% *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)

HKEXCommission Fee0.03* trade value

 

Min 3 HKD/trade

0.03% * trade value
Platform Fee+ 15 HKD/order+ 0.03% * trade value

 

Min 15 HKD/trade

USCommission FeeUSD 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:

MarketMoomooTiger Brokers
SGXMin S$2.49 per tradeNo minimum until 31 Dec 2021

 

Min S$2.88/trade

after 31 Dec 2021

HKEKMin 18 HKD/tradeMin 15 HKD/trade
USMin USD $1.99/tradeMin 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?

MarketWhich one is cheaper?
SGXMoomoo
HKEKTiger Brokers
USHave 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.