May 2021 has been a fruitful month for brokerage sign-up offers. In less than a week, I managed to obtain $310 purely on the sign up offers, with a deposit of $4700. This is a 6.6% yield on my deposits. That's more than the dividend yield paid out across all my SGX shares!
Both brokerages can be easily funded from DBS/POSB accounts and the withdrawal process is as simple too.
Source: Moomoo
Source: Tiger Brokers
If you are concerned about here are some points which might help to allay your worries.
Both Futu Moomoo and Tiger Brokers are regulated by MAS
Both Futu Moomoo and Tiger Brokers do not charge monthly custodian fees
Hence, there’s no worry about being charged additional fees on your capital.
Both Futu Moomoo and Tiger Brokers are offering commission fee waivers during the promotion period
Moomoo is offering 180 days of unlimited commission-free trades, while Tiger Brokers is offering 60 comission-free trades within 180 days. Hence, feel free to continue using the brokerage for the next 6 months without worries.
Summary
I personally see this as a must-get offer to have an investing headstart by getting an additional $310 in my account and pay $0 minimum commission for investing in SG, US, and HK equities.
The offer is only valid for a limited time (by 31st May for Moomoo, up to 5000 Starbucks shares for Tiger Brokers). I have recently signed up for both offers and got my shares, so I urge you to jump on the bandwagon and get your rewards before they run out!