Tiger Brokers Account Opening Rewards and Pitfalls

Dec 12, 2024#老虎證券 #證券 #證券開戶 #開戶 #香港 #HK108

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Tiger Securities offers a HKD 1,000 reward for new account openings, requiring proof of an overseas account before May 19, 2023, and the use of the invitation code KOWLOON. There are some pitfalls to be aware of: 1. A first deposit must be maintained for 60 days to earn HKD 300 in stock vouchers, which can only be redeemed when buying stocks worth over HKD 100. 2. Transaction fees can significantly reduce the net benefit from these rewards. For example, buying and selling stocks incurs fees that may leave you with only HKD 90 from the HKD 300 reward after accounting for transaction costs. 3. Similar calculations apply for larger transactions, where buying 10 stocks can yield a maximum of HKD 192 after fees. Overall, while the rewards seem attractive, the associated costs and risks should be carefully considered.

Tiger Securities Account Opening Reward of 1000 HKD#

The account opening requirements for Tiger Securities include other overseas account statements or account opening proof before May 19, 2023.
Fill in the invitation code: KOWLOON to receive a reward of 1000 stock vouchers.
Alternatively, you can click this link to open an account: https://www.tigersecurities.com/signup?invite=KOWLOON

Pitfalls of Tiger Securities New Account Opening Rewards#

First Deposit Maintained for 60 Days to Get 300 Stock Vouchers#

This consists of 3 vouchers of 100 HKD each, and you can only redeem one voucher by buying stocks worth over 100 HKD once.
Not considering stock volatility risk.
So, if you buy 00493 at around 100, the transaction fee is about 21 HKD. Buying 3 times and selling once incurs a fee of 84 HKD.
Thus, you can get around 200 HKD.

Trading Rewards#

Not considering stock volatility risk.
Buying 5 times earns you 3 vouchers of 100 HKD each. With the same transaction fee of 21 HKD once, the principal trading 6 times incurs a fee of 126 HKD, using vouchers 3 times incurs a fee of 84 HKD, resulting in a maximum of 300 - 126 - 84 = 90 HKD.
Buying 10 times earns you 6 vouchers of 100 HKD each. With the same transaction fee of 21 HKD once, the principal trading 11 times incurs a fee of 231 HKD, using vouchers 7 times incurs a fee of 147 HKD, resulting in a maximum of 600 - 231 - 147 = 192 HKD.