Tiger Brokers Now Offers "LIFETIME" NO-FEE TRADING TO SINGAPORE CUSTOMERS

Tiger Brokers (Singapore) is the newest business to enter the race to the bottom of commission-free trading, which looks to be a trend that isn't going away. To remain competitive, the Xiaomi-backed online trading platform is “permanently” lowering its brokerage costs on US equities to $0.

Tiger Brokers said in a press release that it is launching an “inaugural lifetime zero commission promotion for unlimited transactions” on US equities. According to its statistics, the brokerage's average daily trading value of US securities on its platform was $102 million per day.

Since its introduction in February 2020, the platform has reached significant milestones, including last year's onboarding of the SGX and later the Australian Securities Exchange. The online trading platform presently has over 1.8 million clients and a year-on-year growth rate of 250 percent, with trading volumes of more than $404.3 billion as of December 2021.

Tiger Brokers, which is funded by Interactive Brokers, Chinese tech behemoth Xiaomi, and famous investor Jim Rogers, also discovered that 87 percent of its customers are active traders in US equities. For the third year in a row, its Q4 volumes in Singapore increased by more than 100 percent year on year.

The Zero-Fee Enthusiasm Persists.

The NASDAQ-listed company claims that by providing free transactions on its platforms, its customers may better capitalize on modest price swings in the market and generate cost savings via more efficient trading.

Tiger Brokers (Singapore) CEO Eng Thiam Choon said, “Approximately 87 percent of our account holders presently trade US assets, and we have seen increased investor interest in US markets despite greater volatility internationally.” We think that by launching this campaign, we will be able to remove the barriers to investment and make it simpler and more efficient for Singapore investors to access global markets through our platform.

Tiger Brokers provides investors with access to five worldwide markets in addition to the SGX: the New York Stock Exchange, NASDAQ, the Hong Kong Exchange, the Shanghai/Shenzhen-Hong Kong Stock Connect, and the Australian Securities Exchange.

Although determining whether the brokers' service was free is more difficult than it seems, most retail applications and platforms have caught up with a wave of fee-free announcements over the last two years. However, those financial behemoths' stock-trading business models mirror Robinhood's, which earns money through interest on user accounts, securities lending, and a little amount from payment for order volume.