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.
Best investment platforms on SingSaver
Tiger Brokers | Syfe | City Index | Stashaway | POEMS | SAXO | Interactive Brokers | moomoo | Endowus | IG Trading | CMC Markets | ProsperUs | Webull
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
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 free commission on US options trading for up to 100 contracts every month, lifetime commission-free trading for US market, etc. | Free 3 months worth of SGX LV2 advanced quotes, up to 6 sure-win lucky draw entries, where you can win free stocks worth up US$3,600 in total. |
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
moomoo SG is a trading platform that entered the Singapore market only in March 2021. It boasts competitive commission fees, particularly if you’re an investor looking to trade stocks in the U.S, Hong Kong, China, Japan, or Singapore markets. moomoo is also the first digital brokerage in Singapore that has full SGX membership, which includes trading and clearing memberships for securities and derivatives.
SingSaver Exclusive Promo: Open a Moomoo account and fund a minimum of S$100 to receive a S$60 cash or S$100 Shopee Voucher or Xiaomi Vacuum Cleaner G20 Lite EU (worth S$179). Or, fund S$2,000 to get S$100 cash or a Laifen SE Hair Dryer + S$30 Shopee Vouchers (worth S$219). Valid till 8 October 2024. T&Cs apply.
Moomoo Welcome Offer: Receive up to S$1,014 worth of welcome rewards and up to 6.8% p.a. returns when you complete additional actions with your moomoo account. Valid till 31 October 2024. T&Cs apply.
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, China, Australia, New Zealand, and the U.S. Investors can access multiple products such as funds, ETFs, shares, and REITs.
SingSaver Exclusive Offer: Open a Tiger Brokers account and fund a minimum amount of USD 1,000 to receive a S$200 Shopee Voucher or a FujiFilm Instax Traveller Pal (worth S$189) or a Xiaomi Robot Vacuum (worth S$199). Fund less than USD 1,000 and you still get a Stryv Pro Styler (worth S$169) or an Apple HomePods Mini (worth S$140.25) or a S$60 Shopee Voucher. Valid till 8 October 2024. 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, JP 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, Japan, 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) 1 year commission free for new users |
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.
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.
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, min CNH 3 per order Platform fee: 15 CNH per order |
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 |
JPX |
Commission fee: 0.08% of investment amount, min. JPY 80 per order Platform fee: JPY 180 per order |
N.A. |
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 commission fee of US$0.99.
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.
Back to top
Currencies available
moomoo SG | Tiger Brokers |
SGD, USD, HKD, CHN, JPY Deposit (via Wise): MYR, IDR, AUD, GBP, EUR, SGD, USD, and HKD |
AUD, USD, HKD, CNH, NZD, SGD, EUR, GBP, 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.
SingSaver's Exclusive Offer: Open a CMC Invest account and receive S$20 cash via PayNow. Valid till 8 October 2024. T&Cs apply.
Additionally, receive Tesla Inc. share (NASDAQ: TSLA) and 6 Grab shares (NASDAQ:GRAB) from CMC Invest when you fund and trade with your CMC Invest account. Valid till 31 October 2024. T&Cs apply.
CMC Invest 1st Year Anniversary Limited Promotion: Get 1 NVDA share from CMC Invest when you fund S$1,500 and make 5 buy trades with your CMC Invest account. Promo is stackable with CMC's welcome promo. Valid till 31 October 2024. T&Cs apply.
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 | 0 |
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.
Back to top
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 from 23 July 2024 to 31 October 2024:
Upon successful opening of a moomoo SG securities account, you’ll enjoy:
- Lifetime commission-free trading for the U.S market
- One year free commission-free trades for SG market (stocks, ETFs, and REITs)
- Commission-free trades on US options for up to 100 contracts every month, effective till 30 September 2024
- Free access to real-time Lvl 2 Market Data for the U.S stock market
- Free access to real-time Lvl 2 Market Data for the SG stock market, effective till 31 December 2024
- Free access to real-time Lvl 1 Market Data for Hong Kong market
- Free access to real-time Lvl 1 Market Data for China A Shares market
- moomoo Cash Plus 6.8% p.a. guaranteed returns of up to S$447, valid for 30 days
Note that rewards are stackable.
SingSaver Exclusive Promo: Open a Moomoo account and fund a minimum of S$100 to receive a S$60 cash or S$100 Shopee Voucher or Xiaomi Vacuum Cleaner G20 Lite EU (worth S$179). Or, fund S$2,000 to get S$100 cash or a Laifen SE Hair Dryer + S$30 Shopee Vouchers (worth S$219). Valid till 8 October 2024. T&Cs apply.
Moomoo Welcome Offer: Receive up to S$1,014 worth of welcome rewards and up to 6.8% p.a. returns when you complete additional actions with your moomoo account. Valid till 31 October 2024. T&Cs apply.
On the other hand, Tiger Brokers is also running a welcome promo from 7 August to 31 October 2024:
Open An Account
Sign up and open an account with Tiger Brokers (Singapore) Pte Ltd ("TBSPL") during the promotional period to receive a 6.8% p.a. Interest-Boost Voucher for 60 Days.
(This bonus package is valid for first-time account opening only.)
Fund and Trade
- Fund your newly approved account with any amount and claim three months SGX LV2 advanced quotes (worth S$60).
-
Fund your newly approved account and accumulate deposits of S$1,000 or more within the promotion period to receive a USD 10 voucher package (2x USD 5 vouchers) on top of the 6.8% p.a. Interest-Boost Voucher.
-
Fund your newly approved account and accumulate deposits of S$10,000 or more within the promotion period to receive a USD 35 voucher package (7x USD 5 vouchers).
-
Fund your newly approved account and accumulate deposits of S$100,000 or more within the promotion period to receive a USD 100 voucher package (20x USD 5 vouchers).
Bonus Tier
Task / Eligibility |
Reward |
For first-time registration and opening of a Tiger Account during the promotion period. |
3-Month SGX LV2 Market Data Card |
Free Real-Time US Stock Quotes |
|
Free Real-Time NYSE Arca Depth Data (available for non-professional users) |
|
Real-Time Singapore Stock Quotes |
|
Real-Time US Options Quotes |
|
Ultra-Low US Stock Commission Benefits |
SingSaver Exclusive Offer: Open a Tiger Brokers account and fund a minimum amount of USD 1,000 to receive a S$200 Shopee Voucher or a FujiFilm Instax Traveller Pal (worth S$189) or a Xiaomi Robot Vacuum (worth S$199). Fund less than USD 1,000 and you still get a Stryv Pro Styler (worth S$169) or an Apple HomePods Mini (worth S$140.25) or a S$60 Shopee Voucher. Valid till 8 October 2024. 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.
Moomoo Financial Singapore Pte. Ltd. (“moomoo SG”) is a capital markets services licence holder regulated 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:
Best Cash Management Accounts In Singapore To Soup Up Your Savings
Best Short & Long Term Endowment Plans in Singapore
Best Brokerage Accounts To Start Your Investment Journey In Singapore
moomoo SG Review
Tiger Brokers Review: Low Commissions And Attractive Sign-Up Promotions
Similar articles
Webull Singapore Review (2024): The Investing Platform To Recharge Your Wealth Journey?
uSMART Singapore Review 2023: The Best Broker For Beginners?
7 Best Trading Apps For Beginners To Start in 2022
Interactive Brokers (IBKR) Review: Is This The Best Brokerage Account?
15 Ways Life Is Financially Different Today For Singaporean Millennials Than Previous Generations: 1990s VS 2020s
7 Must-Have Tools Traders Will Need In Their Trading App
moomoo SG Review: Low-Cost Trades, Zero Commission Fees, And More
Tiger Brokers 2024 Review: Low Commissions And Attractive Sign-Up Promotions