Tiger Brokers HK Review 2026: Is It Good for HK IPO Investing?
Contents
TL;DR
Tiger Brokers is a NASDAQ-listed broker (UP Fintech, TIGR) with SFC regulation in Hong Kong. It supports HK IPO applications, grey market (ζη) trading, and US stocks from a single account. The current new-user promo (valid until around Feb 28, 2026) offers an HK$500 supermarket or Apple voucher for deposits of HK$10,000. Main downsides: commission is not zero like Longbridge, and the app UI is not as polished as moomoo. Good for IPO-focused investors who want a credible mid-range platform.
Tiger Brokers HK Review 2026
Tiger Brokers occupies an interesting position in the HK brokerage market. It is not the cheapest option -- Longbridge's zero-commission model undercuts it on HK stocks. It is not the most feature-rich platform -- moomoo's research tools are deeper. But Tiger has things the others do not: NASDAQ listing, a clean mobile interface that splits the difference between moomoo's complexity and simpler banks, and a track record in Hong Kong IPO support that goes back several years.
For investors specifically focused on HK IPO investing -- subscribing during IPO windows and trading the grey market before official listing -- Tiger is worth a serious look.
How We Evaluated Tiger Brokers HK
We assessed Tiger Brokers across the following:
- IPO and grey market capabilities -- the actual IPO application workflow, grey market access timing, and allotment communication
- Fees -- HK and US stock commissions, platform fees, and any hidden costs
- Platform quality -- mobile app and desktop usability compared to competitors
- Regulatory standing -- SFC licensing and investor protection framework
- Promotions -- current new-user offers and their real value
- Genuine downsides -- things worth knowing before signing up
Key Features
NASDAQ-Listed Parent Company (UP Fintech, TIGR)
Tiger Brokers is operated by UP Fintech Holding Limited, which is publicly listed on NASDAQ under the ticker TIGR. This matters for investor confidence -- as a publicly traded company, UP Fintech is subject to SEC disclosure requirements, audited financials, and shareholder accountability that private brokers are not.
This is a meaningful credibility signal. Both Futu Holdings (moomoo's parent, NASDAQ: FUTU) and UP Fintech are listed on the same exchange, which puts Tiger and moomoo in a similar category of institutional transparency.
As of late 2025, UP Fintech reported approximately 970,000 funded accounts globally, with around 35-40% of active users concentrated in the Asia-Pacific region. The Hong Kong operation is one of its core markets.
HK IPO Support + Grey Market (ζη€) Trading
This is the main reason IPO-focused investors choose Tiger. The platform supports:
- IPO subscription during the official application window, with funding via your Tiger account balance
- Grey market trading (ζη€) in the pre-listing window, typically starting from around 6pm the evening before official HKEX listing
The grey market function lets you buy or sell IPO shares before the official opening price is set. This is used in several ways: some investors lock in gains if grey market prices trade well above subscription price; others sell to hedge against first-day volatility; and some use grey market prices as a sentiment signal before deciding whether to hold.
Tiger's grey market access is a reliable feature of the platform, though liquidity in the grey market can vary significantly depending on the IPO -- for smaller IPOs, grey market spreads can be several percent wide.
US Stock and A-Share Access from One Account
Beyond HK stocks, Tiger provides access to US-listed equities and mainland China A-shares via Shanghai and Shenzhen Stock Connect. You can manage all three markets from a single Tiger account, which simplifies portfolio administration compared to running separate accounts.
Singapore-listed stocks are also accessible, which is useful for investors with exposure to Singapore markets.
SFC Regulated (Hong Kong)
Tiger Brokers (HK) Limited holds a Type 1 licence (Dealing in Securities) from the Hong Kong Securities and Futures Commission. Client securities are held in segregated accounts at CCASS, and the SFC's Investor Compensation Fund provides coverage up to HK$500,000 per investor in the event of broker default.
This is the same regulatory framework that covers Futu, Longbridge, HSBC InvestDirect, and other licensed HK brokers.
Current Welcome Promotion (Until ~Feb 28, 2026)
Tiger's current new-account promotion -- valid until around February 28, 2026 at time of writing -- offers an HK$500 supermarket voucher or Apple Store gift card for new account holders who deposit HK$10,000 or more within the promotional period.
HK$500 on a HK$10,000 deposit is a 5% effective reward rate, which is unusually generous compared to most broker promotions. Whether it genuinely offsets Tiger's higher commission structure over time depends on how frequently you trade.
Promotional terms change frequently -- check the current Tiger HK website for active promotions before relying on this, as the specific voucher type, deposit threshold, and expiry date may have changed.
Fees: What You Actually Pay
| Fee Type | Tiger Brokers (HK) | moomoo (HK) | Longbridge |
|---|---|---|---|
| HK Stock Commission | 0.06% (min HK$15) | 0.03% (min HK$3) | $0 |
| Platform Fee (HK) | HK$15/order | HK$15/order | HK$15/order |
| US Stock Commission | $0 | $0 | $0 |
| Level 2 Data (HK) | ~HK$40/month | Free | Paid |
| Minimum Deposit | None | None | None |
| Inactivity Fee | None | None | None |
| Grey Market | Supported | Supported | Supported |
The real cost on HK stocks: On a HK$50,000 trade, Tiger costs HK$30 commission + HK$15 platform fee = HK$45 per transaction. Longbridge costs HK$15 (platform fee only). moomoo costs HK$30 (HK$15 commission + HK$15 platform fee). Plus exchange levies apply to all equally.
Tiger is more expensive than both Longbridge and moomoo on HK stock commissions. The HK$500 welcome promo covers this gap for roughly the first 10-15 trades depending on trade size, after which the cost advantage shifts to Longbridge for pure commission savings.
Level 2 data is paid: Tiger charges around HK$40 per month for Level 2 HK market depth data. moomoo provides this for free. If you rely on Level 2 data, factor HK$480 per year into the Tiger cost comparison.
Platform Quality: Where Tiger Sits
Tiger's mobile app (Tiger Trade) is generally regarded as cleaner and easier to navigate than moomoo, though with less depth. If moomoo can feel like a Bloomberg terminal crammed into a phone screen, Tiger strikes a balance -- you get sufficient charting tools, order types, and market information without as much interface density.
What Tiger does well:
- Clean navigation: The main portfolio, watchlist, IPO, and trade screens are well-organised
- IPO section: Dedicated IPO page with current and upcoming subscriptions clearly listed
- News feed: Reasonable integration of market news relevant to your watchlist positions
- Order types: Market, limit, stop-limit, trailing stop -- standard set for most use cases
What Tiger does less well:
- Level 2 data: Not free; requires monthly subscription compared to moomoo's free inclusion
- Social community: Less active than moomoo's in-app community
- Advanced screeners: Stock screening capabilities are functional but not as powerful as moomoo's
- Desktop app: Functional but less polished than either moomoo's desktop or IBKR
For dedicated charting and technical analysis, most active investors complement Tiger with TradingView β the free plan supports multi-timeframe candlestick charts, 100+ indicators, and simultaneous HK and US stock watchlists that Tiger Trade's native charting does not fully replicate.
How Tiger Compares to moomoo
For investors choosing between Tiger and moomoo, the key trade-offs are:
Tiger's relative strengths:
- NASDAQ-listed parent (UP Fintech) -- similar credibility to moomoo (Futu), both publicly listed
- Cleaner, less cluttered interface for less experienced users
- HK$500 welcome promo is generous (though time-limited)
moomoo's relative strengths:
- Free Level 2 data for both HK and US markets (saves ~HK$40/month vs Tiger)
- Lower HK stock commission (0.03% vs Tiger's 0.06%)
- Larger, more active user community
- Better research tools overall
- Australian entity with AFSL licence for investors based in Australia
For Australian-based investors specifically, moomoo's Australian operation is a material advantage -- you get a locally regulated entity under ASIC alongside access to the same HK stock platform.
Genuine Downsides
Commission Is Not Free
Unlike Longbridge's zero-commission model, Tiger charges 0.06% minimum HK$15 on HK stocks. This is competitive compared to traditional banks (which charge 0.25% minimum HK$100), but it is real cost compared to Longbridge's zero. For active HK stock traders making multiple trades per week, this adds up over a year.
Level 2 Data Costs Extra
Free Level 2 market depth is increasingly the industry expectation, and moomoo has set this standard. Paying HK$40/month for data that a competitor includes for free is a friction point for data-reliant investors.
App Interface Is Less Polished Than moomoo
Tiger's interface is cleaner in terms of clutter, but the overall finish -- particularly on the desktop app -- lags moomoo. Some users find moomoo's information density overwhelming at first but prefer it once familiar. Tiger's simpler layout comes at the cost of some functionality depth.
Smaller Feature Set
Tiger does not offer paper trading (virtual trading with simulated funds), which moomoo does. For new investors who want to practice before committing real capital, this absence is a meaningful gap.
Who Should Consider Tiger Brokers HK
Good fit:
- HK IPO investors who want a reliable, established platform for grey market access
- Investors who find moomoo's interface too dense and want a cleaner experience
- New investors taking advantage of the HK$500 welcome promo who plan to trade occasionally
- Investors who primarily focus on HK and US equities without needing premium data tools
Less suitable:
- Active traders who want zero commission on HK stocks (use Longbridge)
- Investors who rely on Level 2 data daily and do not want to pay extra (use moomoo)
- Investors in Australia who want a locally AFSL-licensed broker (moomoo AU is purpose-built for this)
- Those who want paper trading to practise strategies risk-free
FAQ
Is Tiger Brokers safe to use for HK stocks?
Tiger Brokers (HK) Limited holds an SFC Type 1 licence for dealing in securities. Client securities are held in segregated CCASS accounts, and the SFC's Investor Compensation Fund covers up to HK$500,000 per investor. UP Fintech (Tiger's parent) is listed on NASDAQ under ticker TIGR and publishes audited quarterly financial results. The regulatory framework is the same as Futu, Longbridge, and other licensed HK brokers.
How does Tiger Brokers' HK IPO process work?
During an IPO subscription window, you log in, navigate to the IPO section, enter the number of shares or lots you want to subscribe for, and confirm. Funds are earmarked from your account cash balance. If your application is successful, allotted shares appear in your account before listing. Tiger sends notifications for allotment results and pre-listing grey market availability.
Is the HK$500 promotion still active?
At time of writing (February 2026), the promotion running until approximately February 28, 2026 offers HK$500 in supermarket or Apple Store vouchers for new deposits of HK$10,000+. This window may have closed or changed by the time you read this -- check the current Tiger HK promotions page directly. Broker promotions typically have strict eligibility periods and deposit conditions.
Can I use Tiger Brokers from Australia?
Tiger Brokers accepts overseas account applications, including from Australian residents, through its Singapore or Hong Kong entities. However, Tiger does not have a locally regulated Australian entity with an AFSL licence. If being regulated under ASIC in Australia is important to you, moomoo's Australian operation (Futu Securities Australia, AFSL 529514) provides that framework -- read our moomoo Australia review for details.
What is grey market trading and how does it work?
The grey market (ζη€) is an unofficial trading window that opens roughly from 6pm to 9pm the evening before a new stock's official HKEX listing. It is facilitated by licensed brokers and allows buyers and sellers to transact at market-determined prices. Grey market prices often differ from the final official opening price. Participation requires that your broker supports grey market trading -- Tiger, moomoo, and Longbridge all do.
Related Reading
- Hong Kong Stock Broker Comparison: Futu vs IBKR vs Tiger vs More
- Longbridge Review: $0 Commission Broker
- moomoo Australia Review
- HK & US Stock Broker Account Guide 2026
Disclaimer
This article is for informational purposes only and does not constitute financial advice or a product recommendation. Fee schedules, promotional terms, and platform features change frequently -- verify all current information directly with Tiger Brokers before opening an account. Investing in securities involves risk, including possible loss of principal. The authors receive no compensation from Tiger Brokers.
Fee data last verified February 2026.