1. Can Tiger accounts be financed with securities?
Margin account backed finance facility
2. What products can be traded on the Tiger Consolidated Account?
Currently available for trading are all U.S. stocks (including ETFs), Hong Kong stocks.
3 What are the thresholds for intra-day trading in Tiger accounts?
There are no thresholds and no limits on the number of times.
4. Why the sell price of US stocks is lower than one transaction, but can not be traded?
Some clients may experience the situation that the ask price in the US stock market is lower than the actual transaction price, but the transaction cannot be completed, mostly due to the rules of the dealers and market makers in the US stock market.
Note: In the U.S. stock market trading system, most of the transactions are conducted through specialized dealers and market makers. They are required to announce each transaction to the public within 90 seconds after it is completed. In this sense, the information we see is delayed on all real-time market systems.
5. buying and selling units for US stock trading?
in the U.S. stock market, stocks are bought and sold in "shares".
6. What is ADR?
ADR (American Depository Receipts) refers to a negotiable certificate issued by a United States depositary bank to assist foreign securities to be traded in the United States. Usually represents publicly tradable shares of non-U.S. companies. According to the SEC, most enterprises registered in non-U.S. regions can only be listed in the United States by ADRs.
According to the SEC, an ADR depository bank may be authorized under the deposit agreement relating to the ADRs to charge a fee, called a custody fee or depository service fee, for the work it performs on the ADR. In 2008, the SEC approved the DTC (Depository Trust Company) to collect ADR fees from ADR holders non-periodically on behalf of the ADR depository banks.
1) How much are the ADR fees and how are they charged?
ADR fees usually range from 1 to 5 cents per share. The amount of fees and dates charged by each ADR will be different. For more details, please refer to each ADR prospectus.
Typically, ADR fees will be deducted from the gross dividend of ADR issues. However, if a number of ADRs do not pay periodic dividends, ADR fees will be collected from investors through their broker agents on a specific recording date. For ADR fees deducted with dividend distribution, the fees may be collected from investors' security accounts after the gross dividends are paid. Otherwise, the fees may be deducted directly from the gross dividends, and the investors receive the net dividend. For ADR fees not deducted with dividend distribution , the ADR custodian banks will update the notice, registration and collection dates of ADR fees before the deductions. Investors who hold ADR issues on the registration date will be deducted ADR fees on the collection date. Transactions after the registration date will not affect the current ADR fee collection.
Brokers usually will send customers a charge notice and freeze the ADR fees receivable in advance. The fees will be deducted from the account on actual collection date. Due to the settlement of funds and other reasons, the brokerages' deduction date may be different from the banks' collection date.
Warm Tip: Tiger Brokers will generally notify customers the upcoming deduction of ADR fees by mail, APP push and other means five trading days before the actual deduction. If the customers expect the risk control value or available cash in the account after deduction to be less than zero, the customers should transfer cash to the account or manually liquidated securities as soon as possible to avoid triggering margin close out.
2) How to check my ADR fees?
ADR fees are disclosed on the website of each ADR's custodian banks or the official website of the SEC.
Most ADRs in the market are managed by four custodian banks, namely Deutsche Bank
, JPMorgan Chase Bank
and Bank of New York Mellon
. Investors can log on to the websites of the above four banks and enter the stock code for ADR fees' inquires. Investors can also visit the EDGAR company search tool to view the specific ADR fees' descriptions. Please note that some ADRs have only one custodian bank. If relevant information is not found on the website of one bank, please try to log on to the other three banks or log on to EDGAR for inquiries.
At the same time, you can log in to the official website of Tiger Brokers: My Account-Statement-Fees , or log in to Tiger APP, select Trade and the account you want to query-More-Fund Details-Fee , and check for the fees deducted from your ADRs.