Q1: What is Tiger Vault?
A1: Tiger Vault is a Tiger Brokers' Cash Management Solution that provides investors yield of up to 2.4% on their idle money. (Yields are based on estimated based on current market environment and may be higher or lower.) The underlying products in Tiger Vault are made up of specially curated Money Market Funds by Tiger Brokers. We didn't stop there. You can even use Tiger Vault as purchasing power to invest in stocks, options, funds and participate in IPO once Auto-Sweep feature is turned on. Wowzy!
Q2: Who is Tiger Vault suitable for?
A2: Customers who have spare funds, prefer taking lower risk, sitting out from the bear market or just waiting for that perfect opportunity!
Q3: Is Tiger Vault liquid?
A3: Pay for investment with no lag time. You can use Tiger Vault to pay for investment products on our platform without any lag time. Redeem Tiger Vault anytime. There is no lock-in period.
Q4: Is Tiger Vault returns guaranteed?
A4: Tiger Vault aims to provide investors with yield that is higher than fixed deposits** and savings account. Like all investments, Tiger Vault carries investment risk, but as the underlying funds (Money Market Fund) invest in generally conservative assets - such as government bonds, the risk of a negative return on any one day is low.
Note: Promotional yield may vary depending on promotional campaign's mechanic. Please see here for a list of ongoing promotions and their respective terms and conditions.
Q5: What is Auto-Sweep and how can I make full use of Tiger Vault?
A5: You can opt-into Auto-Sweep feature on Tiger Vault which allows Tiger Brokers to sweep your cash balance into Vault, maximizing your idle money at any point of time. Tiger Vault is also part of your purchasing power. This essentially means that you can also use Vault to invest in any stock, options, funds and participate in IPO. Well, your money shouldn't be sleeping :D
Q6: Why can’t I use 100% of my Tiger Vault balance to pay for my investment ?
A6: It is to cater a buffer for NAV fluctuation and foreign currency exchange rate fluctuation (if applicable), thus you can only use 99% of your balance in Tiger Vault to pay for investments.
Q7: Can I suspend using Tiger Vault?
A7: Need a break? Manage your Tiger Vault auto-sweep feature and choose from 3 days, 7 days, 10 days or just pause indefinitely and restore whenever you want.
Q8: How many funds can I pick for Auto-Sweep?
A8: For auto subscription/redemption, you will need to select 1 fund per currency. Set up your Auto-sweep at Tiger Vault main page.
Q9: Is cross currency trading allowed if I have SGD in Vault and placed a trade for a USD investment?
A9: For margin account, purchasing power may be used on funds and securities in different currencies. SGD holdings in vault can be used for USD purchase and vice versa. You will need to change the settled amount into the trading currency to pay off the negative balance.
There may be interest charges when exchange occurs before the redemption is being settled.
Note that under margin account, SGD holdings in vault can only be used to purchase non-monetary funds and non-fixed investment funds in USD currency, because cross-currency financing is not supported when purchasing monetary funds and fixed investment funds
For cash account, purchasing power can only be used for the respective currency, SGD holdings in Vault can be used as SGD trading currency, and USD holdings in Vault for USD trading currency. Cross currency financing is not allowed. Hence, please ensure that you have sufficient money in the respective currency for trading.
Q10: Can the funds in Tiger Vault be withdrawn?
A10: You will have to manually redeem your holdings in Tiger Vault, then withdraw the funds from your Tiger Brokers Account. Kindly note that holdings have to be settled in order to be redeemed or withdrawn. The system will then suspend the automatic subscription of Tiger Vault for 3 trading days so that you can withdraw funds from your account during this period.
Q11: In which scenario, interest will be charged even if there is still Tiger Vault in Tiger Account?
A11: The settlement period of Tiger Vault is T+1, and immediate settlement is not supported. If you have plans to trade options and CN stock, please redeem your Tiger Vault before the Trading Day's 11:00 a.m (SGT). For example: If you want to invest in US options tonight, please redeem Tiger Vault before 11:00 a.m SGT on the same day. The cash from redemption will be used for the future settlement of your U.S options. Otherwise, 1 day of interest may be charged.
Q12: In what situation will automatic redemption be initiated?
A12: The automatic redemption can be triggered when the following requirement(s) has not been satisfied.
Available cash requirement: if the available cash of current currency is negative, the automatic redemption will be triggered.
Settlement requirement of the other products: if the settled cash of current currency is negative, the automatic redemption will be triggered.
Margin requirement: if the excess liquidity excluding the market value of tiger vault is negative, the automatic redemption will be triggered.
When the current asset cannot meet above the requirement(s), automatic redemption will be initiated to redeem partial, or all of Tiger Vault.
Q13: The time of auto-redemption and auto-subscription vary based on Fund Currency.
A13:
Auto Subscription | Auto Redemption* | |
USD Tiger Vault | Around 20:10(EST) | Around 9:20 (Local Time) |
SGD Tiger Vault | About 23:30 (Local Time) | Around 8:30 (Local Time) |
*If there are any pending subscription orders of the same currency's Tiger Vault before automatic redemption, the system will cancel the existing subscription orders, and re-submit automatic subscription or redemption orders (if any) based on the asset situation after order cancellation.
**Tiger Vault is a cash management tool that invests in Unit Trust. Like all other investments, there is no guarantee of returns. Investment in financial products may carry the inherent risk of loss. Please refer to the risk disclosure statement for an informed assessment of the risks and uncertainties associated with Unit Trust.
Q14: After the Auto-Sweep of the Tiger Vault USD MMF is activated, will the Auto-redeem of the Tiger Vault USD MMF be triggered when only SGD generate liabilities?
A14: No, if there are SGD arrears, the system will only Auto-redeem the SGD MMF in Tiger Vault to repay the SGD arrears. If there is no SGD MMF position in the account, the Auto-redeem will not be triggered, nor will the Auto-redeem of USD MMF position be triggered.