After writing for 8 months, I received an email from Tiger Brokers to ask for collaboration. I also received an email from Moomoo but they wanted to review my content before posting plus I can’t give away my commissions, so I decided not to enter into a partnership with Moomoo. Tiger brokers allowed me to have free control over my content with the condition of not sharing the exact amount of commission I get per sign up.
I will be sharing the commissions I receive with those that signed up using my link. If you are one of the few people who still haven’t taken advantage of the signup rewards, please read on to see how you can get half of the commissions I receive on top of your signup rewards.
The email sent by Tiger Brokers is basically asking me to write about the platform so as to attract new users to sign up and I get compensated in cash accordingly.
Disclaimer: This is not an endorsement of the platform. Placing and keeping your funds on these trading platforms has its risks.
Disclosure: This blog entry contains referral links and/or codes. This means that I get a commission if you decide to sign up through my links or using my codes, at no cost to you. This helps pay for my running costs. Please read my affiliate and referral disclosure for more information.
Why Tiger Brokers?
The pros and cons of using Tiger Brokers have already been covered extensively by various financial bloggers so I won’t repeat them here.
I personally just use Tiger Brokers to get the signup reward plus help my friend get his referral reward. I also did the same thing with Moomoo.
Compensation Scheme For Referrals
If you have been following the Tiger Brokers referral rewards for normal users, the rewards for referring new users has changed from giving away free shares to getting stock vouchers paid out over 5 months.
The new rewards are extremely unattractive and it will be hard to share the rewards with my readers.
| Old Compensation Scheme For Normal Users |
| Stock vouchers depending on initial deposit of the new sign up
Scratch card for every 3 signups ($1 redeem vouchers, stock vouchers, commission-free trade, etc) 5 days of free commission trading |
| New Compensation Scheme For Normal Users |
| S$88 stock vouchers split into 5 months (S$8, S$20 x 4)
Scratch card for every 3 signups ($1 redeem vouchers, stock vouchers, commission-free trade, etc) 5 commission-free trades |
| Compensation Scheme For Partners |
| Exclusive – S$1.36X per sign up
Non-Exclusive – S$X per sign up |
There are two compensation schemes where I work exclusively with tiger brokers (paid more) or I can share promo codes of multiple brokerage platforms (paid less). If I chose the exclusive option, I will be paid 36% more per sign up. I chose the non-exclusive partnership option as I don’t want to be committed to one organization.
I am encouraged not to share the exact amount of compensation as different partners might have different rates so it can create problems if some partners are paid more/less than others.
Onboarding To Tiger Brokers Referral Platform
They asked me for my email, mobile number and preferred referral code to set up my account in their system. I was set up fuss-free within 10 minutes after I sent out my reply to Tiger Brokers.
Cashing Out For The Commissions
I have to send an invoice to Tiger Brokers if I want to cash out my commissions. The invoice has to have a minimum of US$500 before I can send it out.
How Safe Are Your Funds With Tiger Brokers?
The main deterrence of signing up for an account to get the rewards is that whether your money is safe and whether you can withdraw your funds quickly and safely.
Funds Are Safu
Tiger Brokers is regulated by MAS and has a Capital Markets Service License.
To apply for the license, there are multiple factors that MAS will access before approval.
Although it doesn’t 100% guarantee that your funds are safe, but with MAS screening the license to operate a brokerage, at least the lousy ones are filtered away.
They also have strong custodians (IBKR, DBS, etc) that hold your stocks.
No matter how safe you think a broker is, you should split your holdings if possible between different brokerages. No amount of efficiency is more important than the safety of your funds and holdings. You don’t want to have a situation where you don’t have full control of your funds. For example, in January 2021, Robinhood, Tiger Brokers and Moomoo prohibited buying certain tickers.
Also, try not to keep excess cash in brokerage accounts. Even if a broker is protected by some insurance, you don’t know when the insurance will kick in to compensate you.
Easy Withdrawal Of Funds
If you are worried about the withdrawal of money, I tried it out previously and everything is ok. I only signed up after my friend safely got his funds out and my friend only signed up after his friend safely withdrew their money.
The last I tried, it took 11 days from sign up to the money reaching my bank account.
Instructions To Sign Up
- Sign up using my affiliate link here
- Download Tiger Trade APP, and log in
- Once your Tiger (Singapore) account is approved, you will be rewarded with account-opening rewards.
- Deposit SGD 2,000 or more (or equivalent in other currencies) into your newly approved Tiger account in a SINGLE transfer during the Promotion Period
Take Note: The full S$2,000 or equivalent has to be deposited in the INITIAL DEPOSIT. If you decide to do a test transaction, you are immediately disqualified from any rewards.
Rewards For New Sign Ups
The current promotion runs from 1 Sep. 2021 12:00:00 to 30 Sep. 2021 12:00:00 (SGT)
- Registration: 500 Tiger Coins
- Tiger Coins can be used to redeem rewards (e.g Stock Vouchers, Commission-Free Trades) on the Tiger Trade APP
- Account Opening: 60 commission-free trades within 180 days for stocks of U.S., H.K., Singapore & Australia; Plus 5 commission-free trades for Futures within 30 days
- Funding: 1 free Apple (NASDAQ: AAPL) share (worth estimated US$150) when First Single Deposit ≥ SGD 2,000
Sharing My Tiger Brokers Commissions
On top of what you get as a normal sign up, I hope I can sweeten the deal for you. To give back to my readers, I will be sharing 50% of my commissions with you if you sign up using my affiliate link here.
I am basically doing the same thing as ShopBack, where I share my affiliate income with my readers.
Please note that I will only be able to share the rewards after I get paid by Tiger Brokers. With my relatively low readership, I might not be even to cash out my first 500 USD so be prepared for that lol. Please drop me an email if you are unsure how it works.
If you do not wish to wait, I can donate it to a charity of my choice when I manage to cash out.
Details Needed From You
Once signed up, please email me at consumelesslife@gmail.com with
- Phone number used to sign up to Tiger Brokers
- Phone number linked to Paynow
- Email address used to sign up to Tiger Brokers
If I do not receive an email from you within 90 days, I will donate your portion to charity.
TL, DR
I am sharing my commissions for new users who sign up using my affiliate link and fund their accounts with S$2,000 in a single transfer. Get paid to try out the Tiger Trade app if you are still considering whether to do so.
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