1. Margin Account
Margin Account allows margin trading and short selling (intraday leverage up to 4 times; overnight leverage up to 2 times) and trading all products available at Tiger. There is no limit on the number or frequency of T+0 trades.
2. Cash Account
Cash Account is the basic account type. It allows trading with cash. Margin trading and short selling are unavailable. Products including futures and options requiring financing cannot be traded with Cash Account. 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 aged [21 - under 75] with a full-time job (including self-employed) or retired, and have opened a cash account, you may choose to upgrade your cash account to a margin account depending on your needs.
How to upgrade: Tiger Trade APP > Trade > Account > Upgrade to Margin Account.
[under 18] may not open an account with Tiger;
[18 - under 21] and [21 - under 75 (students, interns and other unemployed individuals who are not working full-time)] may open a Cash Account;
[21 - under 75 (employed individuals (including self-employed individuals) working full-time and retirees] may open either a Margin Account or a Cash Account;
[75 and over] may not open an account with Tiger.
1. Can I trade on margin or do I have to trade in cash?
→ 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 SGD, USD or HKD, then trade in the corresponding market(s) using the deposited cash without financing; or
2-2. deposit SGD, 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, Singapore and Australian stocks) 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.]