This was posted 7 months 14 days ago, and might be an out-dated deal.

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7% p.a. Interest for 150 Days on Uninvested Cash (Capped at A$100,000 Balance, New or Unfunded Existing Clients) @ Tiger Brokers

75
7% p.a. Interest for 150 Days on Uninvested Cash (Capped at A$100,000 Balance, New or Unfunded Existing Clients) @ Tiger Brokers
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vis on 08/04/2024 - 19:29 tigerbrokers.com.au (192 clicks)
Last edited 09/04/2024 - 13:57 by 2 other users

Not an investment or banking product.

New client & unfunded existing client only. 7% p.a. for 150 days, capped at balance 100,000 AUD or equiv.USD. See T&Cs.

Referral solicitation removed — Mod

Referral Links

Referral: random (193)

Referrer gets US$50 of fractional shares.

Financial Cash Management Account

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closed Comments

  • Wizard on 08/04/2024 - 19:31
    +9

    Scam

  • AnnoyingEshayLad on 08/04/2024 - 19:39
    +8

    ponzi interest, gonna collapse from a shitty leverage

  • Markusaus on 08/04/2024 - 19:42
    +7

    Does not pass the sniff test for me either…. How do they make money, if your funds are segregated, awaiting your investment decision

  • SBOB on 08/04/2024 - 20:01
    +2

    @rek_trading has entered the chat

    all fun and games till either the rug or the leverage backing such above lower risk interest rates vanishes

  • Maxxjet on 08/04/2024 - 20:41
    +1

    they are alos list on NASDAQ, locally licensed by ASIC, they are subject to lots of supervision and disclosure requirement. I don't know if this is profitable for them but calling it a scam or ponzi is a bit too harsh. I doubt the economic benefits they would potentially be able to "scam" to get (which is a criminal offence) would exceed the downsides of delisting, losing license and be prosecuted by a few western governments.

  • AndyC1 on 08/04/2024 - 20:48

    How do you get interest in Australia from a company that has a ASIC Financial Services License without it being a banking product. Sounds very dodgy to me.

  • dynaflow on 08/04/2024 - 20:49

    A rose by any other name…..

  • mrvaluepack on 08/04/2024 - 21:18
    +6

    How are they generating the cash to pay customers 7%? Out of thin air? From other investors money? lol

    About
    itigerup.com
    CEO: Tianhua Wu (Jan 2018–)
    Founded: 2014
    Headquarters: Beijing, China
    Number of employees: 1,040 (2022)
    Subsidiaries: Ocean Joy Securities Limited, MORE

    Yeah…. nah….

  • cuteduck on 08/04/2024 - 21:26

    Not worth the risk for extra 1.6% vs AMP savings account

    • wfdTamar on 09/04/2024 - 05:44

      ANZ Plus - 4.9% with no conditions to get bonus interest. Only catch is it's all done through an app.

  • cook99 on 08/04/2024 - 21:41
    +2

    How long shall we keep building this pyramid?

  • Iwantthebestprice on 08/04/2024 - 23:11
    +2

    Handing out 7% interest to customers for “holding” your money pfft please. They are using your money to pay the next person interest and so on, the definition of a Ponzi scheme. Why are they trying so hard to have you keep money in an account, enough to entice you with 7% interest?

    If you’re this silly, go buy tulips instead. I hear this market is ready for its next bull run.

  • Pandabargain on 08/04/2024 - 23:16
    +1

    Asic is not an effectively regulator. Do not trust

  • Jessie Ryder on 09/04/2024 - 05:26
    +2

    This will not end well.
    Someone is holding the costs

  • watwatwat on 09/04/2024 - 11:41
    +2

    They wouldn't even pay me my sign up bonus. Imagine putting real money in there.

    You would have to have a tiny brain to do this.

    • mrvaluepack on 09/04/2024 - 13:28

      How much did they promise/owe you for the bonus?

    • Reveen on 09/04/2024 - 15:35

      @watwatwat I finally managed to get paid the signup cashback despite it looking to me like Tiger were being deceitful to ShopBack.

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