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Tiger Brokers (NZ) Review

Our review of Tiger Brokers (NZ) looks into the shares, ETFs, options and futures investing platform gaining interest amongst New Zealanders.
Updated 23 September 2024
Tiger Brokers (NZ) Background:
  • Tiger Brokers commenced operations in June 2014 as a 3rd generation pure online broker, similar in nature to well-known apps Sharesies, Hatch and Stake, as well as Superhero which launched in May 2023.
  • Tiger Brokers (NZ)'s holding company, UP Fintech Holding Limited, was listed on the Nasdaq exchange on the 20th of March 2019 under the ticker TIGR. According to Tiger Brokers (NZ)'s website, and SEC filings, it had a 58.4% market share of global Chinese investors in 2017.
  • On the back of its listing on the NASDAQ in 2019, Tiger Brokers has begun leveraging the scale of their Chinese business to bring a low-cost broad offering to local markets globally. The group has companies with offices in New Zealand, Australia, Singapore, Hong Kong, and the US.
  • Of the companies in NZ, Tiger Brokers (NZ) Limited was incorporated in 2015 and has been catering for overseas clients. With a new local company, Tiger Fintech (NZ) Limited, created in 2021, Tiger Brokers is positioning themselves to reach the local market and it’s putting its effort towards increasing its New Zealand customer base. 
  • Exclusive sign-up benefits: In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. A NZ$30 cash bonus with any new account opening, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.
​
Tiger Brokers (NZ) Summary
  • Tiger Brokers is a low-cost broker. Currently, the broker offers low commissions, 0.35% FX fees and free level-2 data on US-listed shares and ETFs. For US shares, it's a great alternative to Hatch, Sharesies, Stake, Interactive Brokers and Superhero when you consider the FX fees.
  • The company offers wide access to US, Hong Kong, Singaporean and Australian stock markets, and China A-Shares. Altogether, over 7,000 shares are listed on the platform. Our investing in Asian markets guide has more details.
  • ​Tiger Brokers (NZ) also offers derivatives - you can trade options from US and HK exchanges, futures contracts from various asset classes, and warrants and callable bull/bear contracts (CBBCs) in HK.
  • The platform is unique in New Zealand and allows investors to trade various China A-shares listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange thanks to the Shanghai-Shenzhen-Hong Kong Stock Exchange Trading Interconnection Mechanism, provided by HKEX.
  • Tiger Brokers (NZ) offers a proprietary trading platform available on mobile as an iOS or Android application and on desktops as either a Windows or Mac application.
  • The URL for Tiger Brokers (NZ) is www.tigerbrokers.nz

Important: Investing with Tiger Brokers includes the opportunity to trade exotic securities that have unique risks
  1. Tiger Brokers offers various products with different risk profiles. Investors who use the platform need to be aware of the risk of derivatives products that are offered.
  2. Investing in stocks and shares is generally considered a medium risk, and investing in ETFs is a low-to-medium risk. Naturally, it depends on the company or ETF you’re buying into.
  3. Other products offered, such as options and warrants are leveraged in nature and therefore considered high-risk products. Before you start investing or trading, we suggest reading our guide to investing, how to invest in shares, options trading in New Zealand, futures trading in New Zealand, how to invest in ETFs and Shares vs ETFs.

Our guide covers:
​​Disclaimer: This review of Tiger Brokers (NZ) is intended for informational purposes only and does not constitute financial advice or an endorsement of the platform. While we have provided an overview of the platform's offerings and current promotions, we encourage readers to conduct their own research and seek independent financial advice before making any investment decisions.

In the interests of full transparency, MoneyHub has a financial relationship with Tiger Brokers (NZ) for promotional purposes. This does not influence our analysis or opinions. As with any investing app, investing in shares, ETFs, options, and futures carries risks, and past performance is not indicative of future results.

Tiger Brokers (NZ) is our Favourite Low-Cost Shares Platform in our 2023 Editor's Choice Awards:

  • Tiger Brokers (NZ) is a low-cost broker. Currently, the broker offers the lowest commissions, 0.35% FX fees and free level-2 data on US-listed shares and ETFs. For US shares, it's a lower-cost alternative to Hatch, Sharesies, Stake and Interactive Brokers.
  • The company offers access to US, Hong Kong, Singaporean and Australian stock markets and China A-Shares. Altogether, over 7,000 shares are listed on the platform.
  • Exclusive sign-up benefits: In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. Receive a NZ$30 cash bonus when you open the account and make your first deposit of any amount, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.

MoneyHub’s Editor Christopher Walsh says:
"Tiger Brokers is focused on global investing, and at a time when some other platforms have raised their fees, Tiger Brokers is around half the cost of its nearest competitor for US stock trades. Tiger Brokers is the only global online player to have a local Auckland-based team and to be regulated in New Zealand. It focuses on delivering low fees to global market investors looking to build wealth using shares, futures and options. It continues to innovate and has recently launched auto-invest, fractional shares and its own TigerGPT investment chatbot".

Tiger Brokers in New Zealand and Australia - Financial Regulation, Registrations and a History of the Company's Origins

In the interests of full transparency, and to give you comfort about where any investment money is going, we outline the recent history of the company below:
  • Tiger Brokers (NZ) Limited, was incorporated in New Zealand in October 2015 with company number 5838590 and is registered as a Financial Services Provider with FSP no. 473106.
  • Tiger Fintech (NZ) Limited, was incorporated in New Zealand in May 2021 with company number 8187510 and is registered as a stockbroking or trading provider and a client money and property services provider under the Financial Markets Conduct Act 2013.
  • In Australia, Tiger Brokers (AU) Pty Limited with ABN 49 621 909 902 and authorised by the Australian Securities Exchange Commission (ASIC) with licensed number AFSL #505213.
  • To begin operating in New Zealand and Australia, Tiger Brokers (NZ) purchased existing registered or licensed companies. The company sent a founding partner down under to establish Top Capital Partners Limited in New Zealand and its subsidiary Top Capital Partners (Australia) Pty Limited in Australia. These entities were later absorbed by UP Fintech Holdings. Both companies' names were changed in 2019. The group also owns Fleming Funds Management Pty Ltd. 
  • Due to its size and operations in different countries, Tiger Brokers corporate history and structure is complex. Contrary to what many believe, a company listed on a US exchange doesn’t need to be incorporated in the United States. Tiger Brokers (NZ)'s parent company, UP Fintech Holding Limited, is registered in the Cayman Islands.

Tiger Brokers' Corporate Overview

Besides its presence in New Zealand and Australia, the Tiger Brokers platform is available in several countries through the subsidiaries shown above.
​
Tiger Brokers authorised or registered subsidiaries engaged in financial services:
  • US Tiger Securities, Inc. is registered with FINRA and the SEC as a broker-dealer.
  • Wealthn LLC trading as UP Fintech Asset Management is regulated by the US SEC as an investment advisor.
  • Marsco Investment Corporation is registered with FINRA and the SEC as a broker-dealer. The company was first registered in 1986, long before the inception of Tiger Brokers (NZ).
  • Tiger Brokers (Singapore) Pte. Ltd. is licensed by the Monetary Authority of Singapore to deal in various capital markets products and has exemptions allowing the company to offer investment advisory services.
  • Tiger Brokers (NZ) Limited and Tiger Fintech (NZ) Limited are registered in NZ with Financial Service Provider Registrations.  

Tiger Brokers (NZ)’s Trading Platform Features

Tiger Brokers (NZ)​ offers an aesthetically-pleasing user experience; the interface is modern, intuitive and straightforward. In terms of functions and information, the platform has a lot to offer:
  • Each product listed has associated fundamental data and related news, a range of technical analysis indicators and portfolio analysis tools.
  • It offers pre-market and post-market trading for US markets. The platform allows limit orders to be placed 5.5 hours before the market opens, and 4 hours after the market closes.
  • Multiple order types are available – limit orders, market orders, stop-limit orders, stop-loss orders, and conditional orders. With live-market data and multiple order types available, Tiger Brokers gives you many tools to hedge trades and reduce risk. This compares favourably to other platforms like Hatch and Sharesies which offer delayed market data.
  • The company states 48% of employees are allocated to research and development, meaning more than 300 people contribute to platform development. Their app is updated on a monthly basis, with new features added consistently and always striving to improve the customer experience with UI and UX changes.
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. A NZ$30 cash bonus with any new account opening, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.

Tiger Brokers (NZ) Products

Tiger Brokers (NZ) offers various trading instruments from several markets. Here is an overview of the products available to New Zealand traders.
Market
US
Hong Kong
Singapore
Australia
China
Product
Market Order, Limit Order, Stop Loss Order, Stop Limit Order, Conditional Order, Attached orders, OCA (One-Cancels-All) order and Trailing stop order
Stocks, ETFs, Warrants, Stock Options, CBBCs, Futures
Stocks, ETFs, Rights Issue, Futures, REITs, DLCs
Stocks, ETFs
A-Shares (in HKEX Northbound Trading)
They have a full offering of order types from Market Order, Limit Order, Stop Loss Order, Stop limit Order, & Conditional Order. They can be valid for the day (unfilled orders will be automatically cancelled at close of trading) or GTC (Good- Till- Cancelled) – the order will be valid until it is filled or cancelled up to 90-days.
1. Stocks and ETFs
Stocks and exchange-traded funds are core products provided by Tiger Brokers (NZ), where the company is highly competitive in the international market; we’ve prepared a simple comparison table in the next section to illustrate the competitiveness of Tiger Brokers (NZ) fee structure. Tiger Brokers (NZ) allows clients to trade lists stocks and ETFs from the following exchanges:
  • New York Stock Exchange (NYSE)
  • Nasdaq Stock Market (NASDAQ)
  • American Stock Exchange (AMEX)
  • Pink Sheets (PK)
  • Singapore Exchange (SGX)
  • Australian Securities Exchange (ASX)
  • Hong Kong Exchange (HKEx)
  • Shanghai Stock Exchange (via HKEx)
  • Shenzhen Stock Exchange (via HKEx)

Unlike most other investing platforms operating in New Zealand, Tiger Brokers (NZ) provides access to US and Asian stock markets, including Chinese A-Shares. Currently, Tiger Brokers does not offer access to the NZX stock market, however a lot of stocks listed on the NZX can still be purchased through the ASX, for example, Air New Zealand in the ASX is listed under AIZ.

2. Futures
You can find futures contracts from the following exchanges listed in the Tiger Brokers (NZ) platform:
  • Chicago Mercantile Exchange Group Inc. (CME)
  • Chicago Board Options Exchange (CBOE)
  • Singapore Exchange Limited (SGX)
  • Hong Kong Exchanges and Clearing Limited (HKEX)

The assets available to trade are:
  • Index futures (E-mini Dow Jones, China A50 Index, Hang Seng Index and 13 more)
  • Treasury futures (30-YR T-BOND and 3 more)
  • Metal futures (Gold, Silver, Iron Ore and 6 more)
  • Energy futures (Light Crude Oil, Natural Gas and 5 more)
  • Forex futures (Australian dollar, New Zealand dollar, SGX USD/CNH and 10 more)
  • Agriculture futures (Live Cattle, Rice and 11 more)
  • Equity futures (Tencent and two companies from HKEX)
  • Bitcoin futures (CME Bitcoin)
Futures contracts are great for investors that are speculative or looking to hedge or manage risk. For an investor with good intuition and judgement, they can trade 10 times their cash balance on margin and look for higher returns, alternatively, a company can hedge commodity risk or forex risk by locking in the price of these assets into the future.

3. Other listed derivatives
Besides futures contracts, Tiger Brokers (NZ) offers US and HK stock options and warrants and CBBCs (callable bull/bear contracts) listed on HKEX. The structure of these products are highly complex and are only suitable for experienced investors who thoroughly understand the characteristics of these contracts.

An option is a contract giving the buyer the right, but not the obligation to buy or sell an underlying asset in the future, defined by an expiry date. The option buyer pays a premium to the seller for the right to decide. If the option expires in-the-money, the seller is obligated to either deliver the underlying asset or settle the difference in cash. If the option contract expires out-of-the-money, the buyer will not want to buy the underlying asset above market value or sell below market value, so they do not exercise their right to buy or sell. Therefore, the option seller keeps the premium as their profit.

Although options contracts are classified as a more risky or dangerous asset class, this is not necessarily true. To an investor that understands options, these contracts can be very cost-effective, have the potential to offer greater returns and can offer strategic investment strategies. Find out more about options trading here.

The warrants offered by Tiger Brokers (NZ) are listed on the Hong Kong Exchange, and they are described as derivative warrants by HKEX, sometimes known as a covered warrant or a naked warrant. Warrants are similar to options, the main difference being that the expiry date is longer, typically at least six months but may be set to expire in up to five years.

The CBBCs (callable bull/bear contracts) available on Tiger Brokers (NZ) also originate from the HKEX and share many similarities to warrants. There isn’t very clear information about CBBCs on the Tiger Brokers (NZ) website, but you can find more information about CBBCs on the Hong Kong Exchange website.

Key Features and Highlights of Tiger Brokers

Our view is simple - Tiger Brokers stands out in the crowded New Zealand investment platform market with its comprehensive suite of innovative features catering to beginner and experienced investors. Since MoneyHub first reviewed investing platforms in 2018, we have not seen any service innovation as much as Tiger Brokers.

Here's how it compares to platforms like Sharesies, Stake and Hatch:
  1. Global Market Access: Tiger Brokers offers single account access to major global markets, including the U.S., Australia, Hong Kong, China, and Singapore. This contrasts with platforms like Stake and Hatch, which have a singular U.S. focus.
  2. Diverse Financial Products: Beyond stocks and ETFs, Tiger Brokers provides access to a wide range of financial products such as REITs, options, and global futures. This diversification enables investors to build more robust and varied portfolios, which Hatch, Stake and Sharesies don't offer to the same extent.
  3. Cost-Effective Trading: Tiger Brokers delivers exceptional value with zero commission on up to four monthly U.S. or Australian trades and notably low exchange fees. This highly competitive cost structure offers more affordability than the standard fees of Stake, Hatch and Sharesies.
  4. 24/5 Access to Global Markets: Tiger Brokers uniquely offers “24-hour” trading access five days a week, allowing investors to trade U.S. stocks even after the traditional market closes. With over 9,500 US stocks available for “24-hour”  trading, users can seize opportunities in the U.S. market regardless of their time zone.
  5. Virtual Trading for Risk-Free Practice: Tiger Brokers offers demo accounts with up to USD 100,000 in virtual funds, allowing users to practice trading without risking real money. We believe this is significant as too many New Zealanders have rushed into investing without seeing how profitable their strategies are. Stake, Hatch and Sharesies do not provide virtual trading environments.
  6. Advanced Tools and Features: Tiger Brokers' all-in-one platform has various stock selection, research, learning, and trading tools. Unique offerings include AI-powered TigerGPT, which enhances research and analysis with real-time data. This feature sets Tiger Brokers apart from its competitors' relatively basic research tools.
  7. Customisable Experience: With a dual-mode interface catering to beginners and professionals and customisable home screens, Tiger Brokers ensures a user-friendly experience tailored to individual needs—a level of personalisation unrivalled in most other platforms.
  8. Community and Support: Tiger Group fosters an active global investment community for knowledge sharing and offers customer support 23 hours a day during weekdays. This community-driven approach, combined with nearly round-the-clock support, provides a more connected and responsive experience than what's typically available on other platforms.

Tiger Brokers (NZ) is our Favourite Low-Cost Shares Platform in our 2023 Editor's Choice Awards:

  • Tiger Brokers (NZ) is a low-cost broker. Currently, the broker offers the lowest commissions, 0.35% FX fees and free level-2 data on US-listed shares and ETFs. For US shares, it's a lower-cost alternative to Hatch, Sharesies, Stake and Interactive Brokers.
  • The company offers access to US, Hong Kong, Singaporean and Australian stock markets and China A-Shares. Altogether, over 7,000 shares are listed on the platform.
  • Exclusive sign-up benefits: In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. Receive a NZ$30 cash bonus when you open the account and make your first deposit of any amount, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.

MoneyHub’s Editor Christopher Walsh says:
"Tiger Brokers is focused on global investing, and at a time when some other platforms have raised their fees, Tiger Brokers is around half the cost of its nearest competitor for US stock trades. Tiger Brokers is the only global online player to have a local Auckland-based team and to be regulated in New Zealand. It focuses on delivering low fees to global market investors looking to build wealth using shares, futures and options. It continues to innovate and has recently launched auto-invest, fractional shares and its own TigerGPT investment chatbot."

Tiger Brokers (NZ)'s Trading Fees

When it comes to trading shares, Tiger Brokers (NZ) is very competitive, and the fees are transparent. The broker describes fees clearly and highlights the fees they charge and the fees charged by the underlying exchange and other involved parties.

Trading US shares involves the following third-party fees:
  • External agency fee and trading activity fee = Minimum $2 per order (flat fee to buy or sell up to 200 shares and USD 0.01 for every additional share after that per transaction)
  • Settlement fee = US0.003 per share
  • SEC (sell only): 0.000008 × Trade Value, Minimum $0.01 / Trade
  • FINRA (sell only): $0.000145 per Share, Minimum USD 0.01 / Trade, Maximum USD 7.27 / Trade
  • ADR: $0.01 - $0.05 per Share

Our View: Tiger Brokers (NZ) offers pricing similar (or below) that of other global online brokers, which is a first for a New Zealand-based investing platform. This makes the platform a lot cheaper than Hatch, Sharesies and Stake and even Superhero in many cases.

US Shares - Tiger Brokers (NZ) vs Superhero vs Sharesies vs Hatch vs Stake vs Jarden Direct vs ASB Securities

  • Our table below reflects the differences between trading platforms when buying US$1,500 shares (for example, around 9-10 Apple shares, or 5 Microsoft shares)
  • All fees and costs are in USD
  • Some platforms call their brokerage fee a 'transaction' fee or similar, but for the purposes of our comparison, we have kept the column's title consistent.
  • We've ranked Superhero second in the table due to its conversion fee. Customers are charged NZ$0.50 for every US$100 converted from USD back to NZD. We believe this neutralises the seemingly higher 0.50% fee charged when converting NZD to USD (e.g. US$0.50 per NZ$100 exchanged) for the purchase of US shares or ETFs.
Investment Platform
Brokerage fee
FX fee NZD:USD
Pass-through fees / Agency fee
Total Cost ​
Tiger Brokers (NZ)
Minimum $2 per order
(flat fee to buy or sell up to 200 shares and USD 0.01 for every additional share after that per transaction)
0.35%
$0.003 per share
$7.25​
Superhero
$2
0.50% (charged in USD)
 nil ​
$9.50
Hatch
$0.01 per share
minimum $3 per order
0.50%
 nil ​
  $10.50 ​
Sharesies
1.9% up to a cap of $5
0.50%
 nil ​
$12.50
Stake
$3
1.00%
nil
$18.00 ​
ASB Securities
0.60% (minimum of US$50 per trade plus agency fee)
Not disclosed
0.40%
minimum $40 per order
At least $90.00
Jarden Direct
Greater of $69.50 or 0.60% for approved NYSE and NASDAQ Listed Securities
Up to 1.50% (the current margin applied is 0.89% as at 5 May 2023 per their guidance)
nil
$82.85
This table is accurate as at the time of this publication on 5/5/2023 - Fees and commissions vary depending on exchange and product. You can find pricing details for all products on Tiger Brokers's website.
Tiger Brokers offers a comprehensive ‘how we compare’ page on their website at different levels of investment. This table shows a number of the largest US stocks and how Tiger Brokers compares with other various brokers in New Zealand.

Sign-up bonus: In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. A NZ$30 cash bonus with any new account opening, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.

Australian Shares - Tiger Brokers vs Superhero vs Sharesies vs Jarden Direct vs ASB Securities

  • Our table below reflects the differences between trading platforms when buying $1,500 shares (for example, around 300 Qantas shares, or 16 Xero shares)
  • All fees and costs are in AUD
  • Some platforms call their brokerage fee a 'transaction' fee or similar, but for the purposes of our comparison, we have kept the column's title consistent.
  • We've ranked Superhero second; customers are charged NZ$0.50 for every AU$100 converted from AUD back to NZD. We believe this neutralises the seemingly higher 0.50% fee (AU$0.50 for every NZ$100) charged when converting NZD to AUD for the purchase of Australian shares or ETFs.
Investment Platform
Brokerage fee
FX fee NZD:AUD
Pass-through fees / Agency fee
Total Cost ​
Tiger Brokers (NZ)
$0.025% X trade value (minimum $5 per order)
0.35%
0.03% X Trade Value
$10.70, comprised of:
$5 (Brokerage)
$5.25 (FX)
$0.45 (Pass-Through)
Superhero
$2
0.50%
nil
$9.50
Sharesies
1.9% up to a cap of $15
0.50%
 nil ​
 $22.50 ​
Jarden Direct
$29.00 (trade value up to $30,000)
Up to 1.50% (the current margin applied is 0.89% as at 5 May 2023 per their guidance)
 nil ​
$42.35
ASB Securities
$15 (up to and including $1,000)
$30 ($1,000 to $10,000)
0.30% (over $10,000)
Not disclosed
0.40%
minimum $40 per order
At least $70

How to get started with Tiger Brokers (NZ)

Signing up online:
  1. You can open a Tiger Brokers (NZ) trading account either from the company’s website or from the mobile trading app.
  2. During the registration process, you’ll be asked a series of questions about your identity, where you live, your employment status, investment experience, and your financial circumstances. This information is required for AML and KYC government regulation purposes.
  3. You will be required to upload your personal ID, proof of address, and provide your signature. To ensure a seamless process, and an instant account opening, we suggest having the required documents on hand before starting this process.
  4. Once you’ve provided all this information, you will be asked to agree to the privacy policy and terms and conditions.

Tiger Brokers (NZ) account types:
When signing up for a trading account, you will be asked to select the account type you want. As you’re registering, there is a brief explanation for each option, but here is a quick summary for you.
  • Cash account: This account only allows trading stocks with cash and is more suitable for new investors. Margin trading, short selling, options and futures contracts are unavailable. With a cash account, you need to exchange currency to trade on specific markets. For example, if you deposit NZD, you’ll need to convert it into US dollars to trade US stocks.
  • Margin account: This account supports margin trading, the provision of leverage and short selling and is more suitable for experienced investors. The account offers intraday leverage up to 1:4 and overnight leverage up to 1:2, however, the leverage rate can vary depending on different individual stocks. A margin account is required to trade options and futures contracts. It is important to keep in mind, that you do not need to use margin to trade using a margin account. A margin account offers the user the option to trade on margin, but trading on cash is just as acceptable.  

Funding your Tiger Brokers (NZ) account 
  • Once your trading account is created, the next step is to deposit funds. Tiger Brokers (NZ) offers three methods of funding your account. These methods are, Akahu, POLi and bank transfer.
  • Using Akahu or POLi as your deposit method is safe, fast, and free and both methods offer instant account funding most of the time. Using a bank transfer will generally take up to 1-3 days for your deposit to reach your Tiger Brokers (NZ) account.
  • Alternatively, you can deposit funds using multiple currencies to fund your account.

Tiger Brokers (NZ) - Safety and Security

We asked Tiger Brokers to comment on their safety and security of client assets. These are their responses:

Strict segregation of client assets
  • Client assets are held and kept in dedicated custody accounts, separated from their own capital. Detailed calculation and reconciliation of client money and securities are performed on each trading day, as required by the law.

Client money is strictly monitored
  • Client assets are subject to periodic external and internal audits, from auditors and from the relevant regulators.
  • Tiger Brokers (NZ) must strictly comply with all regulatory requirements to maintain appropriate capital adequacy ratios with a strong anti-risk capability, so as to protect client interests.

Custody under strict review
  • Tiger Brokers (NZ) performs due diligence on their custodians and ensures that adequate controls are in place to monitor client funds on an on-going basis.
  • These custodians are under strict supervision by the SEC and FINRA in US, and SFC in Hong Kong, and others.

Tiger Brokers (NZ) - Frequently Asked Questions

Why does a broker offer commission-free trading? How can they make money?

Commission-free brokers simply earn their money from different services, such as ancillary services, or using the commission-free trading products to cross-sell other products they offer. Tiger Brokers (NZ) is not a zero-commission broker per se. The company does run promotions where they do not charge fees when trading US shares, but these are limited-time promotions, and fees are still charged on other products. 

How long does it take to open an account?

According to the company’s website, it can take as little as five minutes to open a trading account. However, looking at the amount of information required, we estimate it will take close to 15 minutes to complete.

Can I trade New Zealand shares with Tiger Brokers (NZ)?

Tiger Brokers (NZ) does not offer NZX shares. However, many stocks on the NZX are dual listed on the ASX. For example, you can buy Air New Zealand stocks through the ASX ticker code, AIZ as this is dual listed on both markets.

Can I deposit NZD to my Tiger Brokers (NZ) account?

Yes. Tiger Brokers (NZ) offers multiple deposit methods. Both Akahu and POLi offer instant account funding, and Tiger Brokers (NZ) provides a Bank of New Zealand account for clients to deposit funds into, these funds will be credited to your trading account within 1-3 days. 

What should I know after I make my first deposit to Tiger Brokers (NZ)?

Tiger Account is a multi-currency account that supports multiple currencies, making it easy for clients to trade the global markets. Please note - the Tiger Trade app does not do the currency exchange automatically. After depositing funds, a client needs to manually exchange the funds into different currencies and invest in corresponding markets.

What is the FX rate when buying and selling currency?

Tiger Brokers (NZ) advised us that clients pay the spot rate which can be found in the Tiger Trade app under the currency you want to exchange. The base currency in the Tiger Trade app is USD, so the currency displayed is USD, however this can be changed under settings to your preferred currency. To view the actual amount, Tiger Brokers (NZ) suggests this can be accessed via APP > Trade > Account > Cash.

As an example, if you deposit NZD and intend to trade US stocks with Tiger, there are two options:
  1. Currency Exchange: App > Trade > Account > Cash > Exchange
  2. Trading by financing (margin account only)

What are dividends, and how do I receive them?

Dividends are paid based on a company's profits. The company will declare a dividend (declaration date) and announce a record date, ex-dividend date and payment date. Once received, Tiger Brokers transfers dividends to your account within 1-3 working days. No fees are charged by Tiger Brokers, except for Hong Kong stocks as outlined here. For more information on dividend investing, please visit our dividend shares guide.

Does Tiger Brokers (NZ) support pre- and after-hours trading for U.S. markets?

Yes, Tiger Brokers (NZ) is one of the few trading apps that allows you to place limit orders in US stocks pre-market and post-market. What this means is that you do not have to trade in the US market during normal market hours but can trade 5.5 hours before the market opens and 4 hours after the market closes. You can find exact pre-market and post-market trading hours on the Tiger Brokers website here. Throughout the year, US share market opening hours in New Zealand time is from Tuesday to Saturday.

What do I do about tax?

For US investors, US tax is automatically paid on your behalf, and Tiger Brokers' client services team give you all the info you need to sort your NZ taxes at the end of each tax year, which is in the form of a statement. However, like any investing platform, Tiger Brokers is not a tax expert. Our guide to tax on investments has more details. Tax up to 33% will be withheld for dividends for New Zealand tax residents.

Is my personal data secure with Tiger Brokers (NZ)?

Because of Tiger Brokers (NZ)’s complex corporate structure, we recommend reading the privacy policy carefully. The privacy policy is informative and upfront about who your data is shared with and under which circumstances.

Tiger Brokers (NZ) is our Favourite Low-Cost Shares Platform in our 2023 Editor's Choice Awards:

  • Tiger Brokers (NZ) is a low-cost broker. Currently, the broker offers the lowest commissions, 0.35% FX fees and free level-2 data on US-listed shares and ETFs. For US shares, it's a lower-cost alternative to Hatch, Sharesies, Stake and Interactive Brokers.
  • The company offers access to US, Hong Kong, Singaporean and Australian stock markets and China A-Shares. Altogether, over 7,000 shares are listed on the platform.
  • Exclusive sign-up benefits: In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. Receive a NZ$30 cash bonus when you open the account and make your first deposit of any amount, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.

MoneyHub’s Editor Christopher Walsh says:
"Tiger Brokers is focused on global investing, and at a time when some other platforms have raised their fees, Tiger Brokers is around half the cost of its nearest competitor for US stock trades. Tiger Brokers is the only global online player to have a local Auckland-based team and to be regulated in New Zealand. It focuses on delivering low fees to global market investors looking to build wealth using shares, futures and options. It continues to innovate and has recently launched auto-invest, fractional shares and its own TigerGPT investment chatbot."
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