In this Saxo bank review, we will compare between tiger and Saxo bank.
Markets Offered by Tiger Brokers vs Saxo
Users can trade in the following markets through Saxo and Tiger Brokers:
- Shanghai Exchange S
- Exchange in Hong Kong
- US stock exchange (New York Stock Exchange, Nasdaq Stock Market, American Stock Exchange)
- China’s stock exchange (Shanghai Stock Exchange)
- British Exchange (ASX)
- UK stock exchange (LSE)
However, Saxo offers various extra marketplaces in 18 countries. They consist of the following:
- Thai stock exchange (Bursa Malaysia)
- Schweizer Aktienmarkt (SWX)
- Japan’s stock exchange
- Canadian industry (Toronto Stock Exchange)
- BME Spanish conversations
- germane bourse (Frankfurt Stock Exchange, Germany)
- The only stock exchange in Italy is in Milan.
- NASDAQ Sweden (Swedish exchange)
- Bloomberg Helsinki (Finnish exchange)
- Bloomberg Copenhagen (Danish exchange)
- via Euronext, the Dutch exchange
- Euronext Portugal exchange via Belgian exchange
- Lisbon Exchange through Euronext
- Euronext-based French exchange
- Euronext-based Irish exchange
- Stock exchange in Prague
- Austrian trade
- the exchange of South African Stock Exchange (South Africa)
Compared to Tiger Brokers, Saxo offers a significantly wider variety of markets.
Which is preferable?
For investors looking for a more worldwide, diversified investment portfolio, Saxo is a better choice than Tiger Brokers because it offers access to several growing markets, including the Tokyo Stock Exchange, one of the biggest global markets for securities and home to top firms like Honda, Toyota, and Sony.
Available Exchange Types
You can trade on five exchanges with Tiger Brokers.
Saxo provides you with 23 other exchanges to trade in the meanwhile.
Some of the exchanges where you can trade using both platforms.
Saxo offers a much more extensive selection of readily available exchanges! The London Stock Exchange may be the one that most Singaporeans are interested in (LSE). ETFs with Irish domicile allow you to cut your taxes in two ways. An expert financial adviser executes trades and transactions on a client’s behalf in a managed Forex account, a form of forex trading account.
Your dividend withholding tax will drop from 30% to 15%.
Reduce the amount of estate taxes you pay
On Tiger Brokers’ platform, the LSE is listed. However, LSE-listed stocks aren’t available for trading.
Trading before and after markets
You can carry out pre-and post-market trading on Tiger Brokers and Saxo platforms. The times for the three sessions in Singapore time (GMT +8).
Deposits and Withdrawal
These are pre-funded accounts for both online stock brokers.
This indicates that before you can begin trading, you must balance your account on any platform.
No required minimum contribution
You must keep a minimum balance in your account with either online bank. If you have a limited amount to invest, this is fantastic!
Customers of DBS and POSB can use direct debit at Tiger Brokers.
You can choose to have a direct debit from your bank account to Tiger Brokers if you are a DBS or POSB customer.
Before your money reaches your Tiger, which is managed forex account, this process can take a few hours.
You must first send money to Saxo’s bank account.
You have a choice of methods for transferring money to Saxo. This comprises:
MEPS FAST PayNow wire transfer
Your funds can be deposited most easily through FAST or PayNow.When making the transfer, don’t forget to enter the unique deposit code in the “reference” field!
The processing of the deposit will also take a few hours.
Refunds could take a few business days.
It can take a few business days before the money you want to withdraw from either site reaches your bank account. Both platforms experience about the same amount of waiting time.
Custodian Account Type
When you trade your assets on both brokerage firms, a custodial account will hold custody of them. Both brokerages hold your funds in quite different ways, though.
You have a third-party custodian account with Tiger Brokers. Tiger Brokers manages your assets on your behalf using third-party custodians. Your Singaporean assets are managed by DBS bank. Interactive Brokers are probably handling your assets from other countries.
This is one of the conditions for Tiger Brokers’ Capital Markets License. Your assets are kept secure under these custodian accounts in the sad event Tiger Brokers closes down. Additionally, Saxo holds a capital markets license.
Under the terms of its Capital Markets License, the MAS also oversees Saxo. Your assets will be held apart from Saxo’s in the event of its bankruptcy.
