How to Turn Your Tiger Brokers Stock Vouchers into Cash

Note: Tiger Brokers has improved their promotion to give 1 share of Disney, 60 commission-free trades for 180 days and 500 Tiger Coins. This post is now outdated, but may be useful for those who still have stock vouchers. Check out our new post out here instead!

If you are looking at this post, chances are that you have signed up for a Tiger Brokers account, and are wondering how to turn your vouchers into cold hard cash. Perhaps you already use another broker and don't want to bother with another app on your phone.

But not to worry, because we have the most comprehensive guide you can find! However, we mainly use SGX where there is no minimum commission, which is a promotional benefit that lasts till 31 December 2021.

Here's how you can do it!

Step 1: Sign up for a Tiger Brokers account

If you haven't already, create a Tiger Brokers account at this link here, or download and use the Tiger Brokers app. If prompted, use the code FREESTOCK when creating your account.

Tiger Brokers Invitation Code: FREESTOCK

Tiger Brokers has posted a handy step-by-step guide here which you can follow. If possible, use MyInfo because it will automatically enter your details for you without having to upload and verify documents like your NRIC.

If everything goes without issue, your account should be approved by the next working day. You will receive a SMS notification once it is approved.

Step 2: Make your first deposit

Once your account is approved, you will be able to make your first deposit. This is the most important step of the process! Tiger Brokers will award you vouchers based on your first deposit only, so if you deposit $1 to test and then $30,000 thereafter, you will get no vouchers.

Here's the amount of money you need to deposit in order to get the vouchers:

$30 voucher: deposit $2,000
$50 voucher: deposit $5,000
$70 voucher: deposit $10,000
$100 voucher: deposit $30,000

Worried about depositing large amounts? Then we would suggest you to perform your deposit in the morning on a weekday (ex. public holidays) using DBS DDA, and promptly withdraw once it is reflected in your account. You can find a guide on withdrawal at Step 4. A few of our friends and family have done this and have gotten their money back within the day.

If you have a DBS or POSB account, we recommend that you use DBS Direct Debit Authorisation (DDA) to deposit. This is all automatic and your deposits will reflect in minutes or even seconds.

To set up DBS DDA, follow the guide here from Tiger Brokers on how to link your DBS bank account to your Tiger account.

Step 3: Check for your stock voucher

Once your deposit is reflected in your account, your voucher should appear as well. To view your voucher:

Go to the Me page
Select the Promotions & Rewards button
You will see a large button with the name Vouchers and a number below it. Select it to view your vouchers.

If you see something which says "美港股免佣卡", it is a commission-free voucher for US and HK stock market trades, valid for 30 days and 5 trades. To enable it, press the Collect button.

Wonder what are all the other stock vouchers that appear in the screenshot above? Those vouchers came from Tiger Brokers' Feb 2021 Ang Pow promotion, which has sadly ended. To keep up to date on the latest promotions, check this page out!

Step 4: Buy any stock.

Now, some of you may have never traded a single stock before. If you have zero knowledge, please do not blindly follow the steps listed below. Seek the advice of a trusted person or financial professional who can educate you on the necessary and relevant topics. There is no rush, and the voucher is valid for 1month from day of issue.

Important: If you have multiple vouchers, always wait at least 5 minutes before buying again. Check that your previous voucher has already been used and the next voucher is active before proceeding.

If your goal is to invest and hold, just buy an amount of stock that exceeds the value of your voucher and skip to the next step.

Since our goal is to use our vouchers as efficiently as possible, we need to minimize the amount of commissions and fees we need pay. We go for SGX because there is currently 0.08% commission with no minimum charged, and there is no need to convert SGD to another currency.

Within SGX, we narrow down our options to ETFs, because most can be traded in lots of 10 shares (vs 100 ordinarily), and choose those with tight spreads and good liquidity. SGX has a list of other popular ETFs here.

Simply purchase a sufficient amount of shares at the ask price, so that your order gets filled instantly. For example:

After you buy, you can choose to keep your newly owned shares (as a personal investment), or sell it. You can think of it as a "free" investment, since you will be getting back your voucher amount in cash. However, you should ensure that you do not place your buy and sell trades too close to each other, or it may be considered as a "false trade".

Some may encounter the issue of getting their orders canceled as the SG sub-account has not been open. In this case, try again the next day, until the account is finally opened and your order can be placed.

To check that your voucher has been correctly applied to your buy transaction:

Go to the Trade page.
Select the Order button.
Select the Filled tab.
You will see that your transaction is labeled as to be Rebated.

Step 5: Wait for your voucher to credit.

According to Tiger Brokers, this process can take up to 14 business days. But in our experience, it usually happens the next business day.

You will receive a SMS notification once it has been credited. You should notice an increase in your account balance. To confirm that it has been credited, check your order history again. The relevant transaction should change from "to be Rebated" to "Rebated" and its details will show the amount rebated.

Step 6: Withdraw (if you want to)!

Once the voucher amount has been credited, and all funds have settled, you can safely withdraw your balance. Alternatively, you can choose to invest in other stocks and ETFs! If the withdrawable amount does not match up with your account balance, you need to wait 1 or 2 working days for settlement to complete.

To withdraw, follow these steps:

Go to the Trade page.
Select the More button.
Select the Withdrawal button.
Select the Withdraw SGD button.
Enter your bank account details, withdrawal amount and submit your withdrawal request.

If you performed your deposit using DBS DDA, your account details will be automatically filled and there is no need to perform account verification. We received our funds in our DBS account within 2 hours.

You may want to revoke the authorization for DBS DDA if you do not plan on making any more trades in the future. You can do so through DBS iBanking by following the instructions from Tiger Brokers. Once it has been revoked, Tiger Brokers cannot directly request for funds from your account and you would need to set up DDA again.

Looking for more freebies? Check out how you can get more than $50 in rewards when you follow this guide on how to become a Tiger Brokers Ace Trader!

Is this for real?

Yes! While it may seem unreal that Tiger Brokers is giving out so much money, we think this stock voucher program is a great marketing effort.

Because people have to make the effort to buy stock in order to get the amount from the stock voucher, we think Tiger Brokers hopes that users will be able to see how easy it is to use their platform, and at the same time show how low their commissions are. Although it is not the lowest out there, we personally have used many other brokerage platforms and Tiger is still our favorite to use amongst them all.

Enjoy your free money!

Disclaimer: This post is for informational purposes only. It does not constitute as a solicitation, or as an offer to buy or sell any security or financial instrument. The information contained in this post is not to be understood or construed as financial, legal or tax advice. Consult your financial advisor if in doubt.

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