moomoo SG and Tiger Brokers are some of the most popular online brokerage firms in Singapore. We review how they stack up against each other.
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moomoo SG and Tiger Brokers are big names when it comes to online brokerages in Singapore. These firms offer quick access to online trading thanks to the ease of sign-up and availability on desktop and mobile platforms.
Despite their similarities, there are some differences between the two brokerage firms. Here’s a comprehensive review of moomoo SG vs Tiger Brokers.
Table of contents
- Tiger vs moomoo overview
- Tiger vs moomoo comparison
- Product offerings
- Available markets
- Fees (SG market)
- Charges in different markets
- Currencies available
- Account opening requirements
- Trading experience
- Depositing and withdrawing funds
- Welcome bonuses
- Safety considerations
- Which is the best option?
- Conclusion
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Receive S$120 cash via PayNow or S$140 Capitaland Vouchers when you open a Tiger Brokers account and fund any amount. Fund a min. of USD 1,000 on your account to get S$180 Cash via PayNow or S$190 Capitaland Vouchers. Valid till 20 December 2023. T&Cs apply.
Also, get up to USD 888 worth of prizes and an 8% p.a. interest bonus from Tiger Brokers when you deposit and trade with your Tiger Brokers account. Valid till 22 December 2023. T&Cs apply.
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Tiger vs moomoo SG: Overview
moomoo SG and Tiger Brokers are among the popular online brokerage firms in Singapore today. There are a lot of similarities and differences between these two platforms.
First off, moomoo SG has the reputation of not charging commissions for US securities. You'll also enjoy free access to market data and no withdrawal, inactivity, account maintenance, or deposit fees.
On the other hand, Tiger Brokers offers more market access, in addition to the US, you can trade in the Australia, Hong Kong, Singapore, and China markets. Also, there are no withdrawal, inactivity, account maintenance or deposit fees. However, charges are a bit complex since they are divided into commission and platform fees.
Tiger vs moomoo SG comparison
To understand how both platforms work, here is a comparison of moomoo SG vs Tiger at a glance.
Characteristics | moomoo SG | Tiger Brokers |
Formed | 2012 | 2014 |
Account funding gateway | PayNow, bank transfers, MEPS, FAST, Credit and Debit cards | PayNow, bank transfers, MEPS, FAST, Credit and Debit cards |
Advisory services | Not available | Not available |
Mobile app | Android and iOS | Android and iOS |
Minimum deposit | S$0 | S$0 |
Minimum trade | Not required | Not required |
Regulator | FINRA, MAS and SEC | ASIC, CMS, FINRA, FMA and MAS |
Welcome bonus gift | One year free commission on SG stocks, 180 days free commission on options trading, lifetime commission-free trading for US market, etc. | 180 days of unlimited commission-free trades for US market, one-year commission-free trades for SG, HK, and China A stocks, etc. |
Copy, Crypto, Forex, Fractional Share, cTraderMetaTrader 4, MetaTrader 5, Mutual Funds, and Social Trading | Not available | Not available |
ETF Trading, Paper Trading, and Share Trading | Available | Available |
Futures Trading, Options Trading and International Markets Trading | Available | Available |
OTCBB / Pink Sheets | Not available | Not available |
Penny Share Trading | Available | Available |
Email support | Available | Available |
Live chat support | Available | Available |
Phone support | Available | Available |
About moomoo SG
Futu Holdings is the Hong Kong-based company behind moomoo SG online brokerage firm. It was established in 2012 and has branches in Singapore, the US, and China. Initially, it was popular with US traders for the Chinese market but is currently available to other investors in Singapore and China.
About Tiger Brokers
Tiger Brokers was established in 2014 and went public on NASDAQ in 2019. Currently, it's available in markets such as Singapore, Hong Kong, Australia, New Zealand, and the U.S. Investors can access multiple products such as funds, ETFs, shares, and REITs.
SingSaver Exclusive Promotion: Enjoy 3x chances to win your share of up to S$200,000 in prizes in our epic 101! Milestone Giveaway, including S$5,000 bonus cash each week on top of ongoing promotions. Valid till 20 December 2023. T&Cs apply. Click here to check out our past Lucky Draw winners!
SingSaver Exclusive: Sign up for a Webull account and fund a minimum of $100 within the promotion period to receive $90 cash via PayNow. Get an additional S$50 (total S$140 cash) when you open and fund S$2000. Valid till 20th Dec 2023. T&C's apply. Stackable with Webull's welcome offer. T&Cs apply.
Product offerings
To get started, we shall first compare the products offered by both platforms.
moomoo SG | Tiger Brokers | |
Tradable assets | ETFs, REITs, Futures, Funds, Derivatives, and Shares | ETFs, Options, Warrants & CBBCs, Futures, REITs, Shares and Fund Malls |
Tradable markets | US, HK, SG, and CHN | US, HK, SG, CHN, and AUS |
moomoo SG has been in the scene for a short time, however, it has several products available to investors. On the platform, you can trade stocks, ETFs, REITs, Funds, Derivatives, and Options.
Besides these, you can trade SGX-listed futures and options on HK and US stocks. Even though the portfolio is limited in comparison with Tiger Brokers, the firm aims to increase its products in the future.
In contrast, Tiger Brokers has a comprehensive selection of trading options including stocks, ETFs, REITs, CBBCs, mutual funds, futures, and options. You can additionally use the fund mall to buy mutual funds.
Available markets
Brokerages | moomoo SG | Tiger Brokers |
Availability | US, Hong Kong, Singapore, and China | US, Hong Kong, Singapore, China, and Australia |
moomoo SG is available in the US, Hong Kong, China, and Singapore markets. On the other hand, Tiger Brokers is available in Australia, Hong Kong, China, the US, and Singapore.
Because of the wider availability, Tiger Brokers is preferred by investors wishing to test the global market. Therefore, if you are exploring investment opportunities abroad, this is an excellent option for you.
Fees (SG market)
Fees | moomoo SG | Tiger Brokers |
Commission fee | 0.03% transaction amount (min. S$0.99 per order) | 0.03% of trade value (min. S$0.99 per order) |
Trading fee | 0.0075% trade value | 0.0075% trade value |
Platform fee | 0.03% trade value (min S$0.99 per order) | 0.03% trade value (min. S$1 per order) |
Clearing fee | 0.0325% trade value |
0.0325% trade value |
Funds Withdrawal Fee (partial and gull) | S$0.00 | S$0.00 |
International Wire Transfer Fee, Mutual Fund Trade Fee, Options (Base Fee), Paper Confirmation Fee, Returned Wire Fee, Spread, Stock Certificate Delivery Fee and Stock Certificate Processing Fee | N/A | N/A |
Both platforms offer competitive brokerage fees, which include trading commission and platform fees. For the Singapore market, moomoo charges a minimum commission and platform fee of S$1.98 compared to Tiger Broker's S$1.99.
The trading commission is also known as the shares trading fee, which is charged upon selling or buying stocks. It also applies to other types of investments such as options and ETFs.
Platform fee is charged by brokerage firms when you use their service. From the table, it's evident that Tiger Brokers fees are more affordable than moomoo SG.
Quite often, the minimum fees that you'll pay depend on the prevailing market.
On this note, do not be fooled by zero-commission free trades that might convince users that trading is absolutely free. Do beware of other fees like a per-share settlement fee that some brokerage accounts charge, especially those without a cap. This could potentially put you in a deficit if the price of each share is low.
A report by The Business Times highlighted a trader who sold his shares for a total of US$5,000, only to realise that he found himself in a US$11,000 deficit because of the high settlement fee that he was charged.
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Receive S$50 cash upon starting a Citi Plus relationship and get another S$100 cash (total S$150) or an Apple Airpods (3rd Gen) With Magsafe Charging Case (worth S$271.50) or a Sony WF-C700N (worth S$199) when you fund a min. deposit of S$20,000 within 2 months of account opening and maintain it for 4 months. Valid till 7 January 2024. T&Cs apply.
Boost your returns with up to 2% cash back with minimum S$500 qualifying spend (capped at S$2,000) on your Citi Cash Back+ Mastercard Credit Card when you spend for a period of 12 months. In addition, enjoy up to S$699 worth of exciting gifts. T&Cs apply.
Also, stand a chance to win a pair of Singapore Airlines tickets to Hong Kong in Citi Plus 1st Year Anniversary Lucky Draw! T&Cs apply.
Charges in different markets
Market | moomoo SG | Tiger Brokers |
SGX | Commission fee: 0.03% transaction amount, min. S$0.99 per order (free for a year) Platform fee: 0.03% transaction amount, min. 0.99 per order |
Commission fee: 0.03% trade value (min. S$0.99 per order) Platform fee: 0.03% trade value (min. S$1 per order) |
HKEX | Commission fee: 0.03% of the investment amount of HK$3, whichever is higher Platform fee: HK$15 per order |
Commission fee: 0.03% trade value (min. HK$7 per order) Platform fee: 0.03% trade value (min. HK$8 per order) |
US | Commission fee: US$0 Platform fee: US$0.99 per order |
Commission fee: US$0.005 per share (min. US$0.99 per order, max. 0.5% trade value per order) Platform fee: US$0.005 per share (min. US$1 per order, max. 0.5% trade value per order) |
China A-shares | Commission fee: 0.03% transaction amount |
Commission fee: 0.03% trade value, min. CNH 7 per order |
ASX | N.A | Commission fee: 0.03% trade value, min. A$2 per order Platform fee: 0.07% trade value, min. A$6 per order |
For the US market, moomoo has a slightly lower trading activity fee compared to Tiger Brokers; the former doesn't charge a commission fee and charges a platform fee of US$0.99, whereas Tiger Brokers charge a minimum fee of US$1.99.
When investing, you can choose a market that has lower fees.
Other than platform and trading commission fees, there are other expenses that you will incur when trading. For example, the broker-assisted fee, options, and withdrawal fee. Again this depends on the online trading platform. As per the analysis, Tiger Broker has the advantage thanks to lower fees charged.
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Currencies available
moomoo SG | Tiger Brokers |
SGD, USD, HKD, and CHN Deposit (via Wise): MYR, IDR, AUD, GBP, EUR, SGD, USD, and HKD |
AUD, USD, HKD, CNH, NZD, SGD, and JPY |
Cash exchanges are common in Tiger Brokers and moomoo SG apps, especially when buying or selling foreign stocks.
When you deposit funds in your accounts you'll need to exchange them for the corresponding currency of the market you're trading. Most of the time, the rate depends on the platform you are using.
For moomoo case, you can also transfer funds via your Wise account, and the amount will depend on the exchange rates offered by Wise. In this regard, moomoo has wider availability in many markets and hence there are multiple options for currency exchange.
Account opening requirements
Both moomoo SG and Tiger Brokers require new users to be at least 18 years old when opening an account. You’ll not be charged any fees during sign up nor will they ask for documents.
In addition, the payment methods include PayNow, bank transfers, MEPS, FAST, credit and debit cards.
If you're a moomoo user but don't have a bank account in Singapore, you can also transfer funds from your overseas account via Wise (formerly TransferWise). You can fund your account either through Wise balance or bank transfer via Wise. Here's a step-by-step guide on how to do it.
Despite the similarities, there are some differences between the two platforms. Whereas moomoo SG doesn't require you to have minimum funding, with Tiger Brokers, you require at least S$1 to get started.
For online applications for the US market, you must have a W-8BEN form which is a declaration that you are not a US citizen.
Brokerages | moomoo SG | Tiger Brokers |
Age requirements | 18 years | 18 years |
Payment gateway | PayNow, bank transfers, MEPS, FAST, Credit and Debit cards | PayNow, bank transfers, MEPS, FAST, Credit and Debit cards |
Minimum funding | 0 | S$1 |
Trading experience
Both platforms have user-friendly apps that are easy to customise. You can access the apps on iOS, Android, and the desktop. Tiger Brokers’ platform has multiple tools and pagers which you will find on its interface including watchlist, prime account, stock information, news, and discovery.
You'll also have access to real-time stock data for free. The information helps you to analyse current trends and prices.
On the other hand, moomoo SG has its own set of investment tools such as watchlist, prime account, stock information, paper trading, and charting tools.
You can also customise the screen into three sections including tickets, capital, and data. You'll have access to real-time stock data as well.
Additionally, both moomoo SG’s and Tiger Brokers’ api allow access to futures markets and traditional stocks.
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Depositing and withdrawing funds
Both moomoo SG and Tiger Brokers are pre-funded platforms that require you to deposit funds before trading.
Each platform allows users to activate the email alerts in the case of transfers and withdrawals. In addition, you'll receive notifications if a suspicious transaction is detected.
Welcome bonuses
moomoo SG is currently offering various sign-up rewards for new users who open an account with Futu SG from 2 November 2023 to 3 January 2024:
Reward 1:
Upon successful opening of a moomoo SG securities account, you’ll enjoy:
- Lifetime commission-free trading for the U.S market
- Free access to real-time Lvl 2 Market Data for the U.S stock market
- Free access to real-time Lvl 1 Market Data for the SG stock market
- Free access to real-time Lvl 1 Market Data for China A Shares market
- One year free commission-free trades for SG market (stocks, ETFs, and REITs)
- Six months commission-free for US stock options
-
moomoo Cash Plus 5.8% p.a. guaranteed returns of up to S$380, valid for 30 days
Reward 2
If you deposit a cumulative amount of at least S$3,000 (or equivalent currencies) before 3 January 2024 for 30 days and perform three cummulative buy trades and maintain your assets for 30 days to receive:
-
-
One stock bundle consisting of Tesla (TSLA), Nvidia (NVDA), Apple (APPL), Sea (SEA), and NIO (NIO) fractional shares worth around S$70.
-
Reward 3
Deposit a cummulate amount of at least S$10,000 (or equivalent currencies), maintain it for 90 days, and perform eight cummulate buy trades before 3 January 2024 to receive three stocks bundles of Apple, Nvidia, Tesla, and Sea, and NIO fractional shares worth S$210.
Note that rewards 1, 2, and 3 are stackable.
SingSaver Exclusive Promotion: Receive S$80 Grab vouchers when you open a moomoo universal account and fund a minimum of S$100. Valid till 3 January 2024. T&Cs apply.
Additionally, get up to S$660 in rewards and up to 5.8%^ p.a. guaranteed returns when you park your cash with Moomoo Cash Plus for up to 30 days. Valid till 3 January 2024. T&Cs apply.
On the other hand, Tiger Brokers is also running a welcome promo from 31 October to 22 November 2023:
Open An Account
Sign up and open an account with Tiger Brokers (Singapore) Pte Ltd ("TBSPL") during the promotional period to receive 365 days of unlimited commission-free trades for HK, SG, and China A stocks and 180 days of unlimited trades for U.S stocks.
(This bonus package is valid for first-time account opening only.)
Activate the Auto-sweep feature on Tiger Vault
Activate the Auto-sweep feature on Tiger Vault for the first time on your newly approved account to enjoy a 30-day(trading days only) interest bonus boosted to 8% p.a. Limited to the first 3,000 eligible rewards.
(This bonus is valid for first-time account opening and first-time activation of the Auto-sweep feature only.)
Fund and Trade
-
Fund your newly approved account with S$300 or more in one single deposit during the promotion period to receive US$10 of Apple fractional shares (NASDAQ: AAPL).
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Fund your newly approved account with S$1,000 or more in one single deposit and execute five new BUY trades during the promotion period to receive US$30 of Apple fractional shares (NASDAQ: AAPL) and one sure-win draw attempt to get one free stock valued between US$8.8 to US$888.
Bonus Tier
Account Opening |
Unlimited Commission-Free Trades for HK & SG & China A Stocks for 365 days |
Activate the auto-sweep feature on Tiger Vault |
30-day (trading days only) interest bonus boosted to 8%* p.a. |
First Deposit ≥ S$300 |
US$10 of Apple fractional shares (NASDAQ: AAPL) |
First Deposit at least S$1,000 and complete five new BUY Trades |
US$30 of Apple fractional shares (NASDAQ: AAPL), |
SingSaver Exclusive Promotion: Enjoy 3x chances to win your share of up to S$200,000 in prizes in our epic 101! Milestone Giveaway, including S$5,000 bonus cash each week on top of ongoing promotions. Valid till 20 December 2023. T&Cs apply. Click here to check out our past Lucky Draw winners!
Receive S$120 cash via PayNow or S$140 Capitaland Vouchers when you open a Tiger Brokers account and fund any amount. Fund a min. of USD 1,000 on your account to get S$180 Cash via PayNow or S$190 Capitaland Vouchers. Valid till 20 December 2023. T&Cs apply.
Also, get up to USD 888 worth of prizes and an 8% p.a. interest bonus from Tiger Brokers when you deposit and trade with your Tiger Brokers account. Valid till 22 December 2023. T&Cs apply.
Safety considerations
Both platforms have put security measures in place to ensure members' investments are safe.
Tiger Brokers’ investors include big names like Chinese-tech giant Xiaomi and Interactive Brokers. The firm has complied with MAS security requirements and is a holder of Singapore's Capital Market Services Licence.
Moreover, when accessing your account, you'll be required to use the 2FA authentication feature that guarantees more security. In addition, you'll receive email alerts of transfers and withdrawals.
Futu Limited, which is moomoo SG's holding company, is a NASDAQ-registered broker licensed by the Monetary Authority of Singapore. It's a stable company that has complied with all regulations to offer a platform where members can trade safely. Like Tiger Brokers, you'll receive an alert in case of a deposit, withdrawal, and transfer.
Which is the best option?
Both Tiger Brokers and moomoo SG are excellent platforms for trading. They provide you with a user-friendly interface, competitive pricing, easy account set up, and analytic tools. Besides all that, both have generous bonuses for new users.
The best choice depends on your preferences. For example, if you want a platform that allows you to invest in global markets, Tiger Brokers would be an ideal choice since it offers access to other markets such as Australia and China.
On the other hand, moomoo SG’s fees are attractive if you are looking for a cheaper platform to trade. However, the no-minimum commission is a promotion and investors will be observing how much moomoo SG will charge going forward.
Conclusion
moomoo SG and Tiger Brokers are some of the best online brokerage platforms in Singapore. They are affordable and available on PCs and mobile apps. They are also available in different markets, which gives you a wider choice when making investment decisions. Armed with this guide, you can evaluate whether Tiger Brokers or moomoo SG is the better platform for you.
Looking to buy or sell shares and securities in different markets? Check out our comparison of online brokerage firms and apply for an account for additional rewards.
Read these next:
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