All 100 Amazon Shares have been redeemed. Check out their Apple and Xiaomi Free Shares promotion instead!
Tiger Brokers never fails to surprise us with promotions that just keep on getting better. However, this promotion comes with a catch - only 100 shares are available! Fastest fingers first! With a deposit of $300,000, you get to enjoy the following:
- 1 free share of Amazon (NASDAQ:AMZN) valued at approximately $4,200
- 60 commission-free trades for 180 days
- 500 Tiger Coins
If you already opened an account with Tiger Brokers, but have not deposited until now, don't worry! You can still enjoy the free Amazon share just by depositing $300,000. Alternatively, you can deposit just $2,000 to get free Apple and Xiaomi shares. Read below to find out how to do it!
Step 1: Sign up for a Tiger Brokers account.
If you haven't already, create a Tiger Brokers account at this link here, or download and use the Tiger Brokers app. If prompted, use the code FREESTOCK when creating your account.
Tiger Brokers Invitation Code: FREESTOCK
Tiger Brokers has posted a handy step-by-step guide here which you can follow. If possible, use MyInfo because it will automatically enter your details for you without having to upload and verify documents like your NRIC.
If everything goes without issue, your account should be approved by the next working day. You will receive a SMS notification once it is approved.
Step 2: Make your first deposit of $300,000.
Once your account is approved, you will be able to make your first deposit. This is the most important step of the process! Tiger Brokers will award you the free stock based on your first deposit only, so if you deposit $1 to test and then $299,999 thereafter, you will get no free stock.
Our checks have shown that most banks only allow you to transfer a maximum of $200,000 daily, regardless of whether you use FAST, PayNow, or DBS Direct Debit Authorisation (DDA). We suggest that you contact Tiger Brokers once your account has been opened in order to get a confirmation that you will be getting the Amazon share, and work an alternative solution out (such as $200,000 today and $100,000 tomorrow).
To set up DBS DDA, follow the guide here from Tiger Brokers on how to link your DBS bank account to your Tiger account. To deposit, follow this guide.
Step 3: Check for your Amazon stock voucher.
Once the promotional period has ended on 30 June 2021, your Amazon stock voucher should appear as well. In the meantime, keep your funds within your account. There is no need to spend any money or make any trades! To view your voucher:
- Go to the Me page
- Select the Promotions & Rewards button
- Select the Collect button on the voucher
You may also see other rewards, such as 60 commission-free trades within 180 days, or 500 Tiger Coins. Make sure you redeem and press the Collect button before they expire.
Step 4: Wait for the Amazon stock to arrive.
According to Tiger Brokers, this will take up to 10 trading days, which is about 2 weeks. However, most should see their free Amazon stock credited within a week. Once it has been successfully credited, you will be able to see the stock appear in the Trade tab of your Tiger Trade app.
Step 5: Do what you want!
Once the stock is credited, it's yours! You can choose to hold it, or sell it.
If you choose to hold the stock, rest assured that Tiger Brokers does not charge any custody fees. This means that the value of your stock won't be eroded by those pesky fees that many other brokers charge!
If you choose to sell the stock, do note that you are required to make 10 trades of any stock valued at 1 USD or above before you can withdraw the profits from selling the share. This new restriction is no surprise - they want you to give their platform a chance and experience it firsthand. If you do not want to spend too much on commissions, you can try trading on the SGX, where Tiger offers a no minimum commission promotion until 31 December 2021.
Once you have sold the share, 2 working days are required before the amount can be withdrawn. This is due to the T+2 settlement process. In the meantime, if you plan to withdraw in SGD, you can convert the USD into SGD within the app, by following these steps:
- Go to the Trade page.
- Select the More button.
- Select the Currency Exchange button.
- Select the currencies you would like to convert.
- Enter the amount you would like to convert.
- Confirm the conversion by selecting the Exchange button.
If you plan to withdraw in USD, no conversion is necessary. However, USD withdrawals are only free to DBS Multi Currency accounts.
Step 6: Withdraw! (If you want to)
To withdraw, follow these steps:
- Go to the Trade page.
- Select the More button.
- Select the Withdrawal button.
- Select the Withdraw SGD or Withdraw USD button.
- Enter your bank account details, withdrawal amount and submit your withdrawal request.
