[Post 118]Learning investing/trading together #31:How to purchase a stock with Tiger Broker mobile

In this learning investing/trading post,i am going to show how to purchase stock through tiger brokers

For a review of tigers brokers by seedly,you can refer to here!

For creating an account with tiger broker,you can refer to here!

For funding your account with Tiger Brokers,you can refer to here!

Why choose tiger brokers as a brokerage?

Pro

• Good customer service,when my account wasn't funded after about an hour , I give a call to tiger brokers customer service and my account fund was immediately updated within 5 min 
• Tiger Brokers is probably the cheapest brokerage commission available for Singapore resident out there who wish to invest in Singapore Stock and only second to Interactive Broker for US stock(refer to fees tables below)
• Unlike Interactive Broker, it does not have a monthly activity fees of $10

Cons

• New brokers,may not be reputable and established as existing Singapore brokers such as DBS vicker or international brokers like TD Ameritrade and Interactive Brokers

Onto the step by step guide on how to purchase  a stock using Tiger Brokers!

1) Transfer money into your Tiger Brokers

How much to transfer?

Well it depend on how much your budget to purchase stocks and whether you have enough in your bank

Currently, the brokerage charges for Tiger Broker(Singapore Market) are as follows:

Source:Tiger Brokers Singapore

And as for the US Market

Source:Tiger Brokers Singapore

With such cheap fees,you can purchase stocks(e.g DBS) and dollar cost average at a low cost, say bye bye to brokers who charges $10 commission fees!

Note:You can invest in any amount you like,of course subjected to your bank account:)

2)Time to purchase some stock!

For me,i mostly use the mobile app to purchase as it way easier and faster

First,you log in to your mobile app,tap on the magnifying glass icon on the top right hand corner to search
the stock tickers e.g DBS(D05)

Source: Tigers Brokers Singapore

Tap on DBS GROUP HOLDING PTE LTD(D05)

Source: Tigers Brokers Singapore

Tap on Trade

Source: Tigers Brokers Singapore

Tap Buy/Long.In my case, i am buying DBS stock(D05)

Source: Tigers Brokers Singapore

The plus point for tiger brokers,is that it provide real time Level 1 data for SGX at no extra charges compares to resources like yahoo finance,where it is delayed.This allow you to determine your buy price precisely.

Source: Tigers Brokers Singapore

The terms are explained as follows:

Code:DBS GROUP HOLDING (Stock Code)

Direction: Select buy if you want to buy shares and select sell if you want to sell the shares(In my case,i select buy)

Type or order type:Limit order(buying or selling a share at specific price.Always choose Limit order!!!,market order(buying or selling a share at the current market price where order get filled immediately)

Limit Price: The price you would like to buy/sell your share at(In my case, I enter at 21.79)

Quantity: How may share you would like to purchase(In my case, I select 100)

Note:In Sgx, 1 lot=100 shares

Ignore buy on cash and buy on margin unless you are leveraging

Amount: Shares x price (100 x 21.79=$2179.00)

Valid period:Day Order(A day order is a order good for that business day only.If the order is not filled by the end of today market close,it will expire.This is the order we are going for, for simplicity sake)

Then click Buy,the order details will appear.

Source: Tigers Brokers Singapore

Double check your order detail and tap confirm

To check if your order is filled.Tap on trade then tap order.An example of filled order is shown below.

Source: Tigers Brokers Singapore

Once your order is filled,you are done!(You have made your first investment!)

Pretty easy right?

Thanks for reading!