moomoo SG vs Tiger Brokers – Platform Comparison Guide (2022)

Guest Contributor

Guest Contributor

Last updated 01 November, 2022

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. 

 

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.

WEBULL_BLOGARTICLE

SingSaver Exclusive Offer: Receive S$100 cash when you apply for a Webull account and fund min. S$2,000 within 30 days of account opening. Valid till 7 February 2023. T&Cs apply.

Additionally, get up to USD150 worth of cash vouchers and enjoy zero-commission trading. What's more, refer a friend and get USD120 worth of shares; refer 10 friends and stand to win an iPhone 14. T&Cs apply.

Plus, apply for this product and score 2x entry in our Score Big Grand Lucky Draw, where you stand to win your share of over S$30,000 worth of exciting prizes! Valid till 18 December 2022. T&Cs apply.

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 a commission for US securities. You'll also enjoy a welcome bonus which includes up to six months of unlimited commission-free trading. However, this offer excludes forex, mutual funds, cryptocurrency and bonds

On the other hand, Tiger Brokers has a competitive advantage because it offers access to the Australia 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. 

MOOMOO_BLOGARTICLE-1

SingSaver Exclusive Offer: Receive S$20 cashback when you open and fund S$100 into a moomoo Cash Plus Account and hold the balance for 30 days. Valid till 31 December 2022. T&Cs apply.

In addition, enjoy a guaranteed return of 5% p.a. for 3 months when you make a subscription between $100 to $10,000. T&Cs apply.

Plus, apply for this product and score 1x entry in our Score Big Grand Lucky Draw, where you stand to win your share of over S$30,000 worth of exciting prizes! Valid till 18 December 2022. T&Cs apply.

Apply Now

moomoo SG vs Tiger 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 2018 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 180 days unlimited commission Commision-free trades and stock vouchers
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 Not available Available
OTCBB / Pink Sheets Not available Not available
Penny Share Trading Available Not available 
Email support Available Available
Live chat support Not available Not available
Phone support Not available Available

About moomoo SG 

Futu Holdings is the Hong Kong-based company behind moomoo SG online brokerage firm. It was established in 2018 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 is a Chinese online brokerage company that was established in 2014. Currently, it's available in markets such as Singapore, Australia, and New York. Investors can access multiple products such as funds, ETFs, shares, and REITs

Product offerings

To get started, we shall first compare the products offered by both platforms.

  moomoo SG Tiger Brokers
Tradable assets ETFs, REITs and Shares  ETFs, Options, Futures, REITs, Shares and OTC
Tradable markets HK, US and SG markets ASX,  NASDAQ,  SGX,  SZSE, HKEX, NYSE and SSE

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, ADRs, 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 the 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

  moomoo SG Tiger Brokers
Availability US, Hong Kong and Singapore Australia, Hong Kong, China, the US and Singapore

moomoo SG is available mostly in the US, Hong Kong, 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

  moomoo SG Tiger Brokers
Commission fee S$0.03% transaction amount S$0.03 per trade
Broker Assisted Trades Fee S$10 N/A
Brokerage Fee S$0.03 S$0.01
Platform fee 0.03% transaction amount 0.3% per trade
Domestic Wire Transfer Fee S$25.00 S$0.00
ETF Trade Fee S$0.03 S$0.01
Funds Withdrawal Fee (Partial and Full) 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
Options (Per Contract Fee) N/A S$0.65
Stock Trade Fee S$0.03 S$0.01

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 recent article 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.

Prices in different markets

Market moomoo SG Tiger Brokers
SGX S$2.49 per trade Min S$2.88 per trade
HKEX Min 18 HKD per trade Min 15 HKD per trade
US Min US$1.99 per trade Min US$1.99 per trade

Trading in the SGX market is more competitive for moomoo SG because the fee is lower than Tiger Brokers. However, Tiger Brokers have an upper hand in the HKEX market where the fees are lower.

For the US market, both platforms have the same fees. 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.

Currencies available

moomoo SG Tiger Broker
SGD, CNH HKD and USD SGD, EUR, HKD, USD, NZD,  JPY,CNH and GBP

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. 

In this regard, Tiger Brokers has wider availability in many markets and hence there are multiple options for currency exchange. Even though moomoo SG doesn't levy extra fees, Tiger Brokers also has more favourable rates. 

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. 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. 

  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.

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 1 November to 31 December 2022:

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
  • Up to S$20 rebate when you invest at least S$100 in moomoo Cash Plus and maintain at least S$100 for 10 days

If you deposit S$2,700 or more, you'll have one chance to spin the wheel and get a free share worth between S$35 to S$200, which includes an Apple stock.

On the other hand, Tiger Brokers is also running a welcome promo from 14 July to 6 December 2022:

  • One free Grab share
  • 180 days of unlimited trades for U.S. stocks
  • 365 days of unlimited commission-free trades for HK, SG, and China A stocks

On top of that, you'll receive S$88 when you deposit at least S$1,000 and make a minimum of five buy trades within the promotional period. However, note that you would need to keep your assets equal to or above S$1,000 every day until 6 December.

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:
Best Cash Management Accounts In Singapore To Soup Up Your Savings (2022)
Best Short & Long Term Endowment Plans in Singapore (2022)

Best Brokerage Accounts To Start Your Investment Journey In Singapore
moomoo SG Review: Low Cost Trades, An iPhone 13, S$40 Stock Coupons, And More
Tiger Brokers Review: Low Commissions And Attractive Sign-Up Promotions