18 November 2024  

1.  About Tiger Brokers (AU) Pty Limited

Tiger Brokers (AU) Pty Limited (“TBAU”) holds an Australian Financial Services Licence (ACN: 007268386, AFSL: 300767). “We”, “us”, “our” or “TBAU” in this Financial Services Guide (“FSG”) refers to Tiger Brokers (AU) Pty Limited and our details are set out below.

2.  Purpose of this FSG

This FSG has been prepared by TBAU pursuant to the requirements of the Corporations Act 2001 and is designed to assist you in deciding whether to use any of the financial services provided by TBAU. It aims to define the role and responsibility of TBAU when we provide you with the financial services.

This FSG also contains information about how complaints against us are dealt with. If you are a retail client, we are required to provide you with this FSG when we provide certain financial services to you. This FSG is not intended for ‘wholesale clients’ as defined by the Corporations Act 2001.

References to ‘you’ or ‘your’ refer to potential recipients of our financial services who are not wholesale clients.

This FSG contains information about:

• Other documents you may receive from us;

• The financial services TBAU provides;

• TBAU’s policy on financial product advice and order solicitation;

• What is TBAU’s position when you trade with us;

• How to give us instructions;

• Important information about corporate actions;

• Risk of trading;

• Information about execution and clearing arrangements;

• Client money;

• Deposit and withdrawals;

• Custody arrangements;

• Remunerations, Fees and Charges;

o   Benefits paid by TBAU to introducing advisors, referrers and investment managers;

o   Change to fees;

• Tax;

• How are TBAU’s employees remunerated;

• Potential conflicts of interest, associations and relationships;

• Privacy;

• If you have a complaint and the Australian Financial Complaints Authority;

• Professional indemnity insurance;

• Anti-Money Laundering and Counter Terrorism Laws; and

• US Foreign Account Tax Compliance Act (“FATCA”) Reporting and Common Reporting Standard (“CRS”) Reporting.

From time to time we may update and change this FSG and when we do so, we will publish the latest version on our website and online trading platform, and/or email a copy to existing clients.

3.  Other documents you may receive from us

Before we provide you with any financial services or make financial products available to you, you will receive other documents from us when you apply to open an account.

Before you can open an account, you must read and accept our Terms and Conditions, including our Client Agreement that sets out terms applying to specific services and products we provide. The Terms and Conditions are available at http://www.itiger.com/au. It is important that you read and understand the Client Agreement because it will govern the legal relationship between you and us.

In addition to this FSG, we may also be required to provide you with other disclosure documents. Where we offer to issue, or arrange for the issue of a financial product(s), we must provide you with a Product Disclosure Statement (“PDS”) for the financial product(s). In order to invest, you will need to complete the application form attached to the PDS. The PDS contains important information about the financial product(s) offered. We are not required to provide you a PDS if you acquire certain financial products such as ASX listed shares, ETFs or warrants.

You should keep a copy of the Client Agreement, the FSG and any PDS or any other disclosure document which we provide to you for future reference.

TBAU does not provide any personal financial product advice. Therefore, we will not provide you with a Statement of Advice (“SOA”).

From 5 pm, 12 January 2024, new clients opening an account with us will also become clients of OpenMarkets Australia Limited ACN 090 47 012 (AFSL No. 246705) (OpenMarkets) to execute, clear and settle transactions via the ASX. For such clients:

• we will act as your agent to provide instructions to OpenMarkets, which will place trades on your behalf;

• OpenMarkets will act as your CHESS Sponsoring Participant and we will not provide you custodial services in respect of assets held on your behalf by OpenMarkets;

• Please refer to OpenMarkets' Financial Services Guide and Client Agreement including CHESS Sponsorship Agreement at https://openmarkets.com.au/legals.

4.  The financial services TBAU provides

TBAU’s AFSL (No. 300767) authorises the licensee to carry on a financial services business to:

(a) provide financial product advice for the following classes of financial products:

(i) deposit and payment products limited to:

(A) basic deposit products;

(B) deposit products other than basic deposit products;

(ii) derivatives;

(iii) foreign exchange contracts;

(iv) interests in managed investment schemes, including:

(A) investor directed portfolio services; and

(v) securities;

(b) deal in a financial product by:

(i) issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

(A) derivatives;

(B) foreign exchange contracts; and

(C) interests in managed investment schemes, limited to:

(1) own managed investment scheme only; and

(ii) applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

(A) deposit and payment products limited to:

(1) basic deposit products;

(2) deposit products other than basic deposit products;

(B) derivatives;

(C) foreign exchange contracts;

(D) interests in managed investment schemes, including:

(1) investor directed portfolio services; and

(E) securities; and

(c) provide the following custodial or depository services:

(i) operate custodial or depository services other than investor directed portfolio services;

to retail and wholesale clients.

TBAU provides dealing and custodial services for a variety of financial products including derivatives, foreign exchange contracts, interests in MIS and securities. TBAU is not a market participant of a licenced financial market in Australia so  that execution and settlement services are provided by a third party. When you trade exchange-traded products (e.g. listed company shares), TBAU will act as an intermediary and instruct market participants to enter trades on the exchange according to your orders.

TBAU is authorised under its AFSL to provide general financial product advice to retail and wholesale clients in those authorized financial products.

Investment warning: The information provided by TBAU both factual information and general financial product advice through publications including newsletters, SMS notifications, websites, emails and social media.

All of TBAU’s commentary, statements of opinion and recommendations in relation to financial products, whether in TBAU’s publications or otherwise, contain only factual information and/or general advice. Please note that to the extent that any of TBAU’s publications or services provide advice, this is general financial product advice only. That is, those statements of opinion and recommendations have been prepared without taking into account your personal objectives, financial situation or needs. You should always consider the appropriateness of any general advice as well as any additional warnings, disclaimers or qualifications in our publications, having regard to your individual and financial circumstances before you act on the general advice.

You should also consider any product disclosure statement (PDS), prospectus or other disclosure document relevant to any financial product referred to in any TBAU content before making any decision about whether to acquire any such product. To obtain such documents you would need to contact the issuer of the relevant financial product or a distributor of the product.

The publications are prepared by TBAU’s own representatives and may include reference from reliable sources such as disclosure documents (e.g. a prospectus) issued by a listed company or a company to be listed. While TBAU will use all reasonable efforts to obtain information from reliable sources, TBAU does not guarantee the accuracy or completeness of that information. TBAU’s financial product advice may be withdrawn or changed at any time as other information becomes available to TBAU.

TBAU’s publications and services should be viewed as an additional investment resource, not as your sole source of information. TBAU recommends that you obtain appropriate financial, legal and taxation advice before making any financial investment decision. In addition:

• you should be aware that past performance does not necessarily indicate a financial product’s likely future performance; and

• if applicable, before making any decision to acquire a particular financial product, you should obtain and carefully consider the relevant product disclosure statement and risk disclosure.

5.  TBAU’s policy on financial product advice and order solicitation

TBAU only provides you with factual information, and in certain circumstances, we may provide general financial product advice. If you want personal financial product advice, we recommend that you consult with a financial advisor that takes into account your objectives, financial situations and needs.

You may receive third party market analysis or research through TBAU’s platform or mobile app. Where TBAU passes on this information, you should treat this information as general financial product advice only; this information does not consider your objectives, financial situation or needs. You should ensure that you consider any such information which we pass on in light of your own circumstances. We strongly recommend that you contact a financial advisor if you require personal financial product advice.

The discussions or correspondence you have with any representative of TBAU will be technical in nature if it concerns the specific features and functionality of TBAU’s platform. If your discussions or correspondence with TBAU specifically relates to a financial product or financial service offered by TBAU, then our staff will provide you with factual information about the products or services. TBAU’s representatives will not provide recommendations to you or solicit orders from you, and any information provided will not take into account your objectives, financial situation or needs. When you speak with or correspond with TBAU, you are dealing with a representative of TBAU and we are responsible for the factual correctness of any information given. However, you are responsible for the decisions you make about your account and any financial products.

6.  What is TBAU’s position when you trade with us?

When you instruct TBAU to deal or arrange a dealing in a financial product on your behalf, TBAU will generally be acting as your agent in  executing or arranging that dealing.  TBAU may also be dealing with you as principal (ie as the counterparty on the trade).  Where this is the case, we will let you know.

Whether TBAU is dealing as your agent or with you as principal, your relationship with TBAU is governed by our Terms and Conditions, including the Client Agreement and the applicable laws.

7.  How to give us instructions

Important: Access to the trading platforms and interfaces provided by TBAU is controlled through use of secure login credentials. You are responsible for the confidentiality of your log-in information, including your login credentials. You must keep this information secure and must not give or disclose it to anyone. TBAU does not know whether an unauthorised person is entering orders on your account using your login credentials and you will be responsible for any transactions which result.

We accept instructions from you by telephone or electronically via our trading platforms.

We provide securities trading and other services primarily through electronic means and most of your interactions with TBAU will be through such means – this will primarily be via our online trading platform or our mobile trading platform, Tiger Trade, in relation to the buying and selling of financial products.

You can view information about your account and submit instructions to us through Tiger Trade. In Tiger Trade, you may participate in corporate actions and ask questions or make requests.

8.  Important information about corporate actions

It is important that you understand TBAU’s role in acting as your custodian and passing on information about corporate actions. We are not obliged to provide information on upcoming voluntary corporate actions to you by any means. We may provide information regarding corporate actions on a best-efforts only basis within Tiger Trade or by other means, and you should monitor Tiger Trade and emails on a regular basis.

You must ensure you make any election to participate in voluntary corporates actions within the timeframes specified by TBAU in the corporate action notification or in the absence of a specified timeframe prior to the closing date announced by the relevant corporation. It is possible that TBAU may impose an earlier deadline than the one imposed by the relevant corporation.

There is also no guarantee that you will be allocated the full amount of rights/shares or any other kind of benefit that you subscribed to. We may exercise our absolute discretion to scale back the offer using a different methodology adopted by the relevant corporation.

9.  Risk of trading

Although securities and other financial products may offer the potential for profits, the risk of loss in trading can also be substantial. The risks of loss inherent in trading in financial products will vary depending on the financial product traded. The price of a security may rise and fall considerably depending on what other people are prepared to pay for a financial product at the time of a transaction. This price volatility will depend on many factors, including but not limited to, information about the company, market sentiment, opinions about the country the security or derivative is traded in and the prospects for the industry. Sometimes companies go bankrupt and investors may lose the entire value of their investment in it. You must consider what is appropriate for you in the light of your financial circumstances, objectives and needs.

There are additional risks associated with overseas-listed investment products and so called ‘penny stocks’. You must carefully consider and understand risks disclosed in the Risk Disclosure Statement before conducting any trading activities with TBAU. The Risk Disclosure Statement is available at http://www.itiger.com/au.

You should be aware that the risk of loss in trading in Options, like all derivatives, can be substantial. It is important that you carefully consider whether trading Options is appropriate for you in light of your knowledge, investment objectives, financial circumstances and needs. Options are not suitable for some retail investors and we recommend that you consult your financial adviser to assist you in understanding the risks of trading Options prior to investing. You should only trade Options if you understand the nature of the products and have a clear understanding of and tolerance for the losses that such trading may incur. Please ensure you have read and understood the Exchange Traded Options(“ETO”) Product Disclosure Statement(PDS) and Target Market Determination(TMD) as well as the educational material stated in the PDS.

TBAU holds client money in accordance with Corporation Act (“the Act”) and applicable law. The client money is held by TBAU in a segregated trust account maintained for section 981B of the act with an Authorised Deposit-taking Institution (ADI). TBAU may withdraw the client money from the segregated trust account and pay to another financial services licensee who holds the client money for TBAU in its client segregated account or trust account maintained for section 981B of the Act. If there is an irreconcilable shortfall following the default of TBAU, or a third party broker or custodian, you may share in that shortfall proportionately with others whose assets are held in the custodian account.

10.  Information about execution and clearing arrangements

TBAU is an intermediary of market participants of Australian or international markets. When TBAU is an intermediary of a market participant, TBAU arranges for the execution and clearing of your orders by or through a market participant of the relevant financial market. TBAU’s Disclosure for Electronic Trading and Order Routing Systems explains how we handle your orders for equity market products.

11.  Client money

TBAU will handle client money it receives in accordance with the rules set out in the Corporations Act 2001 and the terms of its agreement with you.

Client money received by TBAU from you (or on your behalf) will be deposited into a trust account or a client segregated account for holding client money. We may hold client money across multiple trust accounts or client segregated accounts. In all cases, the money TBAU holds in client money accounts shall be held on trust for its clients.

TBAU only uses or withdraws client money in accordance with the Corporations Act and the terms of our Client Agreement with you. These uses include but are not limited to:

1. to pay the fees and charges to which you have agreed, for example commission, or fees charged by your advisor or investment manager.

2. to discharge the obligations incurred by TBAU on your behalf as a result of your trading, such as settlement costs and other obligations for exchange traded securities and other financial products. Client money will be forwarded to an omnibus account for this purpose; and

3. to meet other costs arising from your instructions, for example to make payments required to execute your instructions to participate in certain corporate actions.

TBAU may withdraw money held for you to pay to itself amounts that you owe to TBAU for the services it provides or the products it issues to you.

TBAU may withdraw the client money from the segregated trust account and pay to another financial services licensee who holds the client money for TBAU in its client segregated account or trust account maintained for section 981B of the Act.

TBAU may also receive, derive and retain any interest or income generated from any client money held in a trust account or a client segregated account. However, TBAU may in its discretion elect to pass on to you some or all of the pass through interest or income generated from your client money (where that client money has not been invested by you in any investments, is fully settled and instantly available cash ). See section 14 for more information.

12.  Deposit and withdrawals

As at the date of this FSG, TBAU only holds client money in Australian dollar (AUD), US dollar (USD), Singapore dollar (SGD) and Hong Kong dollar (HKD). You can only deposit in these currencies and TBAU does not support holding any other currencies at this time.

TBAU accepts deposit by electronic fund transfer and we may accept other funding methods at a later date as advised. However, TBAU does not accept deposits by cheque or in cash. You should ensure that you follow the instructions on how to deposit funds carefully to ensure that there are no delays in attributing deposits to your account. If you wish to withdraw money held for you, TBAU will (subject to the Terms & Conditions in the Client Agreement and your current available liquid funds) pay this amount to you (but not to any third party). You must provide the correct payment instructions (including account details) and ensure you perform withdrawal requests correctly. Whilst TBAU will take reasonable steps to comply with your payment instructions, TBAU accepts no responsibility for any failure to comply with those instructions and, if a failure occurs, the relevant monies will continue to be held by TBAU.

Important: Clients who trade, or wish to trade financial products on international exchanges may only do so where in compliance with the disclosure requirements of the Corporations Act 2001 (Cth) or where the client is exempt from these requirements and may also be required to meet the obligations for a transaction in a foreign currency and may be entitled to delivery of foreign currency upon settlement. TBAU will be the foreign exchange contract issuer when you enter into a spot foreign exchange transaction and TBAU will act as principle when you enter into an instant settled foreign exchange transaction.

Money may be paid to clearing houses directly by TBAU or to participants or foreign exchanges to meet settlement obligations. Money paid out to and held by participants of international exchanges or the clearing house of the relevant international exchange will not be held by TBAU according to the Australian Client Money Rules, rather, it will be held in accordance with the rules of the relevant jurisdiction. In particular, money held by such third parties may not have the same level of protection afforded to client money in Australia in the case of the insolvency, bankruptcy, or failure of third party brokers/intermediaries or clearing houses.

All currency exchange risks from your dealings remain your responsibility. Except where you have entered into an instant settled foreign exchange transaction or a spot foreign exchange transaction at an agreed price, any conversion from one currency to another required to be made for performing or executing any payment instruction, or for paying for, or settling a dealing in any financial product on your behalf, may be effected by TBAU in the manner, at the time and at the exchange rates that TBAU in its absolute discretion decides.

13.  Custody arrangements

TBAU provides custodial services for its clients in conjunction with its primary business of providing trading services.

TBAU may appoint a sub-custodian which may be an affiliate of TBAU, any International Financial Market Participant or any sub-sub- custodian appointed by any of them to hold financial products for TBAU. For products transacted on financial markets outside of Australia, TBAU will appoint a third party as a sub-custodian to hold any securities or other financial products or resulting positions for TBAU. In either case, TBAU will hold the benefit of financial products held through such sub-custody arrangements on your behalf in accordance with the Terms and Conditions and the Client Agreement.

Client monies paid to TBAU are held in a segregated trust account with an Authorised Deposit-taking Institution (ADI). TBAU undertakes to comply with the requirements set out in Division 2 of Part 7.8 of the Corporations Act 2001 (Cth), which includes, amongst other things, ensuring that the money is paid into an account with an Australian ADI and the only money paid into the account is money which the client money provisions apply to. TBAU may withdraw the client money from the segregated trust account and pay to another financial services licensee who holds the client money for TBAU in its client segregated account or trust account maintained for section 981B of the Act.

From 5 pm, 12 January 2024, new clients opening an account with us will also become clients of OpenMarkets which will act as your CHESS Sponsoring Participant. As such, OpenMarkets will provide custodial services in respect of your ASX trading.

14.  Remunerations, interests, fees and charges

TBAU charges commissions and fees when you buy or sell financial products such as shares on your trading accounts. As at the date of this FSG, TBAU does not charge any specific separate fees for the custody services it provides but may do so in future by providing existing clients with a reasonable prior notice. The amount of the commission or fee payable to TBAU depends on the financial product traded. Unless otherwise stated, all fees, charges and any benefits disclosed in this FSG are inclusive of GST (when applicable).

The fees we charge you are set out in this FSG. Where any amount of remuneration (including commission) or other fees is not able to be ascertained as at the date of this FSG, you may contact us to request particulars of the remuneration (including commission) or other fees. Your request must be made within a reasonable time after you receive this FSG and before we provide you with any of the financial services referred to in this FSG.

Fees and charges on stocks and ETFs listed on US Exchanges      

Brokerage Fees

Other Fees

The SEC Membership Fee and FINRA Trading Activity Fee are subject to the ongoing review and adjustments by SFC and FINRA respectively. TBAU will transparently update and pass through the changes accordingly. Such updates may occur without prior or formal notification.

For most current information of these fee items, please refer to the Pricing section on our website at http://www.itiger.com/au. 

Notes:

1) Trading low-priced shares (e.g. share price less than USD 1) may carry high risk, including the risk of total loss and that of delisting. Investors should be cautious about buying or selling these shares. TBAU charges a maximum brokerage of 1% of the trade value per order. A minimum brokerage fee applies if the calculated maximum brokerage fee per order is lower than the minimum brokerage fee per order.

(2) Settlement Fee is a pass-through fee charged by the US clearing agency and DTCC (US Depository Trust & Clearing Corporation) member TradeUP Securities Inc.

(3) SEC Membership Fee is a pass-through fee charged by the SEC (US Securities and Exchange Commission) and is charged for sell orders only.

(4) FINRA Trading Activity Fee is a pass-through fee charged by FINRA (US Financial Industry Regulatory Authority).

(5) If there is any change in the fees charged by third parties such as exchanges and regulators, TBAU will adjust the fees they charge on their half accordingly.

(6) For fractional share trading with trade volume less than 1 share, brokerage is charged at 1% of Trade Value, capped at $1. For fractional share trading with trade volume more than 1 share, normal US trading fees hereabove apply.

(7) The fees of the GTC(Good Till Cancel) Order will be calculated by the trading day. Transactions on the same trading day shall be regarded as one order, while transactions on different trading days shall be regarded as different orders for calculating.

(8) ADR (American Depositary Receipt) Fee is charged by DTCC for stocks of non-US companies listed in the US. Clients who held such stock positions in a past cycle will be charged ADR fees as required, regardless of whether they have a current position or not. Please refer to Tiger Trade's push notifications for information on the cycle period. Clients who have not held any non-US company's shares will not be charged ADR fees.

(9) Interested clients may choose from two ways of general shareholders' meeting participation application: (i) Client or proxy participates; (ii) Client votes. Proxy Service Fee for Participating in the General Shareholders' Meetings will be refunded to the client in the event that the application is unsuccessful.

Fees and charges on stocks and ETFs listed on AU Exchanges

Brokerage Fees

Notes:

(1) The amount of a client's first buy order on an ASX listed company shares is required to be at least AUD 500 (known as "the minimum marketable parcel of shares").

(2) The fees above are GST inclusive.

(3) The fees of the GTC(Good Till Cancel) Order will be calculated by the trading day. Transactions on the same trading day shall be regarded as one order, while transactions on different trading days shall be regarded as different orders for calculating.

Fees and charges on stocks and ETFs listed on Hong Kong Exchanges

Brokerage Fees

Regulatory Fees

The regulatory fees outlined above are subject to the ongoing review and adjustments by HKEX, HKSCC, HK SFC, HK IRD and AFRC respectively. TBAU will transparently update and pass through the changes accordingly. Such updates may occur without prior or formal notification. For most current information of these fee items, please refer to the Pricing section on our website at http://www.itiger.com/au.

Notes:

(1) The fees of the GTC(Good Till Cancel) Order will be calculated by the trading day. Transactions on the same trading day shall be regarded as one order, while transactions on different trading days shall be regarded as different orders for calculating. 

Other Service Fees

Notes:

(1) The share quantity to which a Proxy Service Fee for Stock Dividend Payment applies will be calculated as 1 lot if it is smaller than 1 lot.

(2) Proxy Service Fee for Cash Dividend Payment will be the dividend value in the case that the dividend value < HKD 30.

(3) For corporate action services settled in USD and CNH, the minimum charge for tiger service fee is USD 3.8 and CNH 26.7.

(4) Interested clients may choose from two ways of general shareholders' meeting participation application: (i) Client or proxy participates; (ii) Client votes. Proxy Service Fee for Participating in the General Shareholders' Meetings will be refunded to the client in the event that the application is unsuccessful.

(5) The above price list is for reference only. Please refer to the actual charges for details. If you have questions, you can consult Customer Service.

Fees and charges on stocks and ETFs in Shanghai/Shenzhen-Hong Kong Stock Connect (“A Shares”)

Brokerage Fees

Regulatory Fees

The regulatory fees outlined above are subject to the ongoing review and adjustments by the charging authorities. TBAU will transparently update and pass through the changes accordingly. Such updates may occur without prior or formal notification.

For most current information of these fee items, please refer to the Pricing section on our website at http://www.itiger.com/au.

Notes:

(1) The fees of the GTC(Good Till Cancel) Order will be calculated by the trading day. Transactions on the same trading day shall be regarded as one order, while transactions on different trading days shall be regarded as different orders for calculating.

Other Service Fees

Fees and charges on Exchange Traded Options on US Exchanges

Brokerage Fees

Regulatory Fees

The regulatory fees outlined above are subject to the ongoing review and adjustments by SEC, FINRA, OCC and U.S. options exchanges respectively. TBAU will transparently update and pass through the changes accordingly. Such updates may occur without prior or formal notification. For most current information of these fee items, please refer to the Pricing section on our website at http://www.itiger.com/au.

Notes:

(1) If there is any change in the fees charged by third parties such as exchanges and regulators, TBAU will adjust the fees they charge on their behalf accordingly.

(2) The fees of the GTC(Good Till Cancel) Order will be calculated by the trading day. Transactions on the same trading day shall be regarded as one order, while transactions on different trading days shall be regarded as different orders for calculating.

Market data service fees

We are charged royalty fees by the domestic and other international markets for the market data you use. There are various data options available on our trading platform for our clients. When you submit an account application online, you will be asked whether you are a non- professional investor. You may be required to pay a market data fee if you activate certain market data subscriptions. Please refer to our online trading platform for details about applicable market data fees.

Currency exchange fees and transfer fees

Where a client transfers/receives money to/from TBAU in a foreign currency other than AUD, the bank may charge a fee for international transfer or currency conversion. However, this fee is not charged by TBAU and is out of TBAU’s control. The client, instead of TBAU, is responsible for paying the fee to the bank.

When you enter into a FX contract with us, we may charge a fee in pips that is included in the exchange rate quoted to you. You should read the important information about the fees in conjunction with Spot Foreign Exchange Product disclosure Statement(PDS) before making a decision. The material relating to the fees may change between the time when you read this FSG and PDS and the day when you acquire the product.

*The fee is per transaction basis and it is included in the exchange rate quoted to you.

*FX fee is charged in form of an added spread on top of both bid and ask price we received from our FX liquidity providers.

* TBAU reserves the right to, at any time, change or impose fees for the Services that we provide to you.

Position transfer-in and transfer-out fees

Please note:

• For US and HK stocks, TBAU only supports transfers with no change of beneficial ownership.

• The fees and related processes for stocks transferred through depository and custodian institutions (such as Transfer Agent) or for large transactions, etc. need to be agreed separately.

• You may need to ask your receiving broker for transfer-in fee details.  Please contact us should you have such needs or request further information.

14.1  Interest

TBAU is entitled to, and will retain, all interest or income accrued or paid by ADIs, service providers and financial service licensees in respect of the client money held by TBAU. TBAU may in its discretion elect to pass through to you some or all of the interest or income accrued on the uninvested cash balance we hold for you as client money.

Your "uninvested cash balance" refers to the fully settled and instantly available cash balance in your trading account, which is held by us as client money.  We intend to pass through interest or income to you on the basis of the specified tiers outlined below.

Interest is passed on to you on a per currency basis. That is, uninvested cash balance in different currencies will be treated separately and independently for the purposes of the specified tiers outlined below. Currently, only uninvested USD and AUD cash balances will be eligible for interest pass through.

Interest to be passed through to you is calculated daily on a calendar day basis. USD daily interest is priced on a 360-day count convention and AUD is on a 365-day count convention. The accrued interest entitlement today is calculated based on today's uninvested cash balance at 23:59:59 EST.

TBAU intends to pass through interest to your account on a monthly basis on the fourth trading day of the US market in the following month.  Unpaid Interest to be passed through to you in this way will not itself generate or accrue additional interest and it will not be included in the uninvested cash balance until it is paid to you. Any interest that is passed through will be part of the uninvested cash balance and accrue interest thereafter.

The current uninvested cash interest schedule is:

Where TBAU earns interest or income in excess of the rates specified above in respect of your uninvested cash balance, TBAU will retain the balance.

The interest passed through to you will be calculated on a tiered basis, such that the applicable rate will only apply to your uninvested cash balance to the extent it fits within the tier. 

For example, if your uninvested cash balance is 65,000 AUD on a typical day, the interest to be passed through to you on a daily basis would be: [5,000 * 0% + 45,000 * 1.50% + ( 65,000 – 50,000) * 2.25% ] / 365 = 2.77 AUD.

The interest rate schedule is subject to change from time to time without prior notification. For more details and examples on how we calculate the interest, please refer to our website and Tiger Trade platform.

From time to time, the rate you receive may exceed the amounts received by TBAU in respect of your client money ("Honeymoon Rate").  Where this occurs, the excess will be paid by TBAU as a voluntary payment to you.  The final rate and promotion period of any Honeymoon Rate is determined at the sole discretion of TBAU and the offer period may end without prior notification.

14.2  Other fees and benefits received by TBAU

Business referral and product distribution fee: TBAU may enter into referral or product distribution arrangements with providers of financial or other services. With your consent, TBAU may act as a referrer, introducing broker, or distributor by introducing you as a potential client to the relevant service provider or product issuer. In return, TBAU may receive fees for successful referrals or product distributions.

Fund raising and stamping fee: TBAU may receive fees for facilitating an offer to issue or sell a financial product where the purpose of the offer is to raise funds for an entity issuing or selling the financial product, such as through an initial public offering(“IPO”) and secondary offering event.

Unless otherwise agreed by us in advance, you are not entitled to any of these fees. If any benefits are considered as “conflicted remuneration” under the Corporations Act(2001), they will only be accepted if they are exempt or with your explicit consent and you are entitled to receive full details regarding such payment upon written request.

14.3 Benefits paid by TBAU to introducing advisors, referrers and investment managers

TBAU may pay commission or provide other benefits to introducing advisers, referrers and investment managers for the introduction or referral of clients to TBAU. The commission paid by TBAU to introducing advisers, referrers and investment managers may include a flat rate, or an amount calculated as a percentage of the commissions retained by TBAU when you trade. If any amount we paid to third parties are considered “conflicted remuneration” under the Corporations Act(2001) then they will only be made if they are exempt or with your explicit consent and you are entitled to receive full details regarding such payment upon written request. If such payment is not deemed as conflicted remuneration under the Corporations Acts, it may be paid without your express consent and such payment will be paid by us and not by you.

If you trade with TBAU through an introducing adviser, referrer or investment manager, that introducing adviser, referrer or investment manager may have its own schedule of fees. Please refer to your introducing adviser, referrer or investment manager’s financial services guide, website or contact your introducing adviser, referrer or investment manager for further information. In those circumstances, if there are differences in the introducing adviser, referrer or investment manager’s fees for a particular service, the introducing adviser, referrer or investment manager’s fees will apply, not the fees for the service outlined in this FSG. Where payments are not considered as conflicted remuneration, we may make payments to third parties, representatives or employees without your prior consent.

If you have agreed to pay a third party advisor or investment manager a fee for the services that they provide to you, then unless otherwise stated, you agree for us to pay that fee to your advisor or investment manager on your behalf. You will be required to pay to us an amount equal to the specified advisor fee or investment manager fee in addition to any amount you owe us.

14.4  Change to fees

All fees, costs and charges and other amounts payable are correct as at the date of the FSG but are subject to change from time to time. TBAU will provide reasonable notice to you of such imposition or change prior to its occurrence. TBAU reserves the right to negotiate different fees and charges with different clients.

15.  Tax

Transaction taxes, such as value added taxes may apply in some jurisdictions. The taxation implications of trading in financial products will depend on your particular circumstances and it is recommended that you obtain your own independent taxation advice.

16.  How are TBAU’s employees remunerated

The directors and selected employees of TBAU are paid a salary and bonus dependent on their individual performance. You can request further information regarding remuneration, commission and other benefits received by selected employees and directors of TBAU by contacting our Compliance Department through compliance@tigerbrokers.com.au. Your request, however, must be made within a reasonable time after you are given this FSG and before any financial service identified in this FSG is provided to you.

17.  Potential conflicts of interest, associations and relationships

TBAU does not, nor do any affiliates within our business group, have any relationships or associations with any product issuer that could reasonably be expected to be capable of influencing us in the provision of financial services. Unless otherwise disclosed, TBAU generally acts on its own behalf when providing financial services to you.

Depending on what products you acquire from or through TBAU, we may act as your agent (for instance, when we acquire or arrange for the acquisition of exchange traded financial products such as listed shares on your behalf) or as principal ourselves (for instance, when we settle instant foreign exchange transaction to you or when you sell the odd lot shares listed on Hong Kong exchanges).

TBAU does not generally undertake any principal trading in financial products that we acquire as your agent, except where we must correct error positions.

As an intermediary of market participants, TBAU arranges for the execution and clearing of your orders by or through a market participant of the relevant financial market. TBAU handles all orders it receives in accordance with Disclosure for Electronic Trading and Order Routing Systems and Client Agreement.

Regarding TBAU’s general financial product advice, TBAU, its associated entities, and their respective directors, associates, connected parties and/or employees may from time to time deal in or otherwise have a financial interest in securities and other financial products referred to in its publications or other general financial advice it provides. Representatives including authorised representatives, employees and directors are guided by TBAU’s internal compliance policy and procedures in order to avoid conflicts of interest or manage/disclose conflicts of interest.

All employees of TBAU including those who prepare research and other advice are subject to rules for their personal trading activities. The major trading rules are:

• Employees cannot trade based on advance knowledge of information that will be published by TBAU;

• Employees must hold any shares that they own for at least 10 days; and

• Employees must report their transactions to TBAU’s compliance department within 24 hours of executing a transaction.

18.  Privacy

Your privacy and personal information are important to us. We have adequate measures in place under the Privacy Act 1988 and will manage your personal information accordingly. We only collect personal information about you so that we may provide you with the financial product(s) and associated services(s) you request, as well as information on other products offered by us.

TBAU collects personal information from you, including but not limited to, your name, address, contact details, tax file number, banking details and information on transactions carried out through TBAU by you or any agent you appoint. TBAU may use cookies, which also collect information from you. Clients of TBAU may update personal details via by emailing us clientservice@tigerbrokers.com.au.

TBAU collects personal information from you as required by the laws to which we are subject to (for example AML/CTF laws) in order to provide you financial services (including custody services) and verify your identity. TBAU will not sell, disclose or rent personal information collected without your consent.

TBAU may be required by the law to disclose information about you to external parties including regulatory bodies. In such cases, TBAU must fully cooperate with the relevant request.

You may choose to withhold certain information but this may mean that TBAU is unable to provide you financial services.

TBAU is bound by the Privacy Act 1988 and Australian Privacy Principles when we collect personal information from you. We take your privacy seriously, please review our Privacy Policy which may be viewed at http://www.itiger.com/au We have taken steps to ensure that your personal information is kept both private and secure.

19.  If you have a complaint

TBAU is committed to providing a high quality product and service. If you have a query about the services and products we offer, we encourage you to contact us.

TBAU’s complaint process is designed to ensure your complaint is handled promptly, appropriately and fairly, and dealt with in the strictest confidence.

If you have any complaints or queries about the service provided by us, you can contact us by phone, email or mail. The contact details are in section 1 of this FSG. Or you can email to compliance@tigerbrokers.com.au . We will aim to acknowledge receipt of your complaint immediately or within 1 business days. All complaints will be investigated promptly and fully. If your complaint is not closed by the end of fifth business day or you, being the complainant, requests a written response, TBAU will provide you with a written response to the findings of our investigations as soon as practical and in any case, within 30 days from receipt of your complaint.

19.1 The Australian Financial Complaints Authority

If you are not satisfied with how your complaint is responded to by TBAU or 30 days have elapsed, you may direct your concerns in writing to the Australian Financial Complaints Authority (“AFCA”) which is an independent dispute resolution scheme of which TBAU is a member. The dispute resolution scheme offered by AFCA is provided to you free of charge. AFCA details are:

Australian Financial Complaints Authority

GPO Box 3, Melbourne, Victoria 3001

Telephone: 1800 931 678

Internet: www.afca.org.au

Email: info@afca.org.au

20.  Professional indemnity insurance

The financial services offered by TBAU are covered by a professional indemnity insurance policy which satisfies the requirements for compensations arrangements set out under section 912B of the Corporations Act 2001. This covers financial services provided by TBAU and its employees, including employees after they cease working with us.

Subject to the terms and conditions of the policy, its coverage may include losses or damages suffered by retail clients as a result of breaches by TBAU of its relevant obligations under its AFSL.

21.  Anti-Money Laundering and Counter Terrorism Laws (“AML/CTF laws”)

TBAU must meet strict identification requirements before we provide designated services to you. When you apply for an account with TBAU, we will notify you of what information we need during the account opening process.

We may be legally required to disclose information we have obtained about you to regulatory or law enforcement agencies under AML/CTF laws.

TBAU may decline to carry out a transaction or an instruction if we have reasonable grounds to believe it may breach Australian law or the law of any other country.

22.  US Foreign Account Tax Compliance Act (“FATCA”) Reporting and Common Reporting Standard (“CRS”) Reporting

Under the Inter-Government Agreement between the Australian and US government, TBAU has certain obligations to report transaction information to the Australian Tax office (ATO) on US citizens and various US and non-US entities. We may request you to provide certain FATCA information if you come within the requirements of the legislation.

We do not provide taxation advice, or advice about FATCA. You should consult your personal tax adviser if you believe that you are impacted by FATCA obligations.

The CRS is the single global standard for the collection, reporting and exchange of financial account information on foreign tax residents. TBAU use the CRS due diligence rules to review accounts, identify those held by non-residents and report the relevant information to the ATO.