What is Corporate Welfare Zone?
You may have heard of many businesses offering corporate benefits or a "Corporate Individual Scheme" to employees of a wide range of companies.
Corporate Welfare Zone is an initiative by Tiger Brokers to bring additional benefits to its customers. It's similar to what many other companies offer, just under a different name! Furthermore, this is in addition to existing promotions, which means that you will be able to enjoy the account opening promotion as well!
However, you need to be very careful and ensure that your corporate details are captured before you open the account, or you might not get the Nio share at all. But not to worry - we have a simple and easy guide for you to follow below!
Step 1: Sign up for a Tiger Brokers account.
If you haven't already, download the Tiger Brokers app and register for an account with the the invitation code FREESTOCK. Alternatively, you can create a Tiger Brokers account at this link here, but we recommend doing it through the app to ensure that all information is captured properly.
Tiger Brokers Invitation Code: FREESTOCK
Once you have registered your account, DO NOT proceed to open an account yet. Instead, follow on to the next step to register your corporate email.
Step 2: Register your Corporate Email.
Now, you will need to link your corporate email to your account. This process sends a temporary PIN to your corporate email in order to verify that you are an actual employee. To do so:
- Go to the Me page
- Select the Enterprise Welfare Center button
- Select the Join Now button on the voucher
- Enter your company name and select the Certify button
- Enter your company email
- Select the Send button and enter the verification code sent to your corporate email
- Select Submit Certification after the verification has been complete
If you are unable to receive the verification code in your corporate email due to policy restrictions, you can email your corporate ID (with your name and photo) to wangwenyan@itiger.com. Tiger Brokers will review your corporate ID within 3 working days.
Step 3: Open your Tiger Brokers account.
Once you have been verified as a corporate employee, you can proceed to open your account. However, you will need to trigger the account opening process from the Enterprise Welfare Center.
Tiger Brokers has posted a handy step-by-step guide here which you can follow. There's also a guided tutorial video embedded below! 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 4: Make your first deposit of $2,000.
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 the free stock based on your first deposit only, so if you deposit $1 to test and then $1,999 thereafter, you will get no free stock.
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.
Worried about the deposit process? Then we suggest that you perform your deposit in the morning on a weekday (ex. public holidays) using DBS DDA. This way, you will be able to contact both DBS and Tiger support if anything goes wrong. Based on user reporting, DBS DDA works almost perfectly without issues.
To set up DBS DDA, follow the guide here from Tiger Brokers on how to link your DBS bank account to your Tiger account. To deposit, follow this guide.
Step 5: Check for your Apple and Nio stock voucher.
Once your deposit is reflected in your account, your Apple and Nio stock voucher should appear as well. To view your voucher:
- Go to the Me page
- Select the Promotions & Rewards button
- Select the Collect button on the voucher
The Nio share will require a token sum of 1 USD to be paid in order to receive the free share. You can obtain the 1 USD through the sale of the free Apple share, or you can convert your SGD into USD following this guide here which is based on the Tesla share promotion in April 2021.
You may also see other rewards, such as 60 commission-free trades within 180 days, or 500 Tiger Coins. Make sure you redeem and press the Collect button before they expire.
Step 6: Wait for the Apple and Nio stock to arrive.
According to Tiger Brokers, this will take up to 10 trading days, which is about 2 weeks. However, most should see their free Apple and Nio stock credited within a week. Once it has been successfully credited, you will be able to see the stock appear in the Trade tab of your Tiger Trade app.
Step 7: Do what you want!
Once the stock is credited, it's yours! You can choose to hold it, or sell it.
If you choose to hold the stock, rest assured that Tiger Brokers does not charge any custody fees. This means that the value of your stock won't be eroded by those pesky fees that many other brokers charge!
If you choose to sell the stock, do note that you are required to make 10 trades of any stock valued at 1 USD or above before you can withdraw the profits from selling the share. This new restriction is no surprise - they want you to give their platform a chance and experience it firsthand. If you do not want to spend too much on commissions, you can try trading on the SGX, where Tiger offers a no minimum commission promotion until 31 December 2021.
Once you have sold the share, 2 working days are required before the amount can be withdrawn. This is due to the T+2 settlement process. In the meantime, if you plan to withdraw in SGD, you can convert the USD into SGD within the app, by following these steps:
- Go to the Trade page.
- Select the More button.
- Select the Currency Exchange button.
- Select the currencies you would like to convert.
- Enter the amount you would like to convert.
- Confirm the conversion by selecting the Exchange button.
If you plan to withdraw in USD, no conversion is necessary. However, USD withdrawals are only free to DBS Multi Currency accounts.
Step 8: Withdraw! (If you want to)
To withdraw, follow these steps:
- Go to the Trade page.
- Select the More button.
- Select the Withdrawal button.
- Select the Withdraw SGD or Withdraw USD button.
- Enter your bank account details, withdrawal amount and submit your withdrawal request.
