Account Types
1. Margin Account
Margin Account supports margin trading and short selling (intraday leverage up to 4 times; overnight leverage up to 2 times). There is no limit on the number or frequency of T+0 trades.
2. Cash Account
Cash Account only allows trading stocks with cash. Margin trading and short selling are unavailable. There is no limit on the number or frequency of T+0 trades.
3. Cash Account upgrading to Margin Account
A cash account may be upgraded to a margin account.
If you are employed in a full-time job (including self-employed), and have opened a cash account, you may choose to upgrade your cash account to a margin account depending on your needs.
Age Requirement
[under 18] may not open an account with Tiger;
[older than 18 ] Students, interns and other unemployed individuals who are not working full-time may open a Cash Account;
[older than 18] Individuals (including self-employed individuals) working full-time may open either a Margin Account or a Cash Account.
FAQs
Q: Can I trade on margin or do I have to trade in cash?
A: Both are available with Tiger Brokers.
1. Margin Trading (Financing): deposit in any currency, then trade in any market by financing if your Tiger Account is a Margin Account; or
2. Cash Trading (available for both Margin Account and Cash Account):
2-1. deposit NZD, AUD, USD or HKD, then trade in the corresponding market(s) using the deposited cash without financing; or
2-2. deposit NZD, AUD, USD or HKD and do the currency exchange on Tiger Trade, then trade using cash
Notes on 2-2: The settlement date of currency exchange is T+2. If you prefer that no financing interest is incurred, you may refer to the following tips based on the rules made by Exchanges:
1) Immediately after the currency exchange, using cash to trade products of which the settlement date is T+2 (e.g. US, Hong Kong, and Singapore) will be free of interest.
2) 1 trading day after the currency exchange, using cash to trade products of which the settlement date is T+1 (e.g. China A-shares, futures, and US stock options) will be free of interest.
3) 2 trading days after the currency exchange, withdrawing the cash will be free of interest.
[You may also immediately carry out the above operations, which might incur the corresponding financing interest.]