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
7% p.a. Interest for 150 Days on Uninvested Cash (Capped at A$100,000 Balance, New or Unfunded Existing Clients) @ Tiger Brokers
75
vis on 08/04/2024 - 19:29 tigerbrokers.com.au (171 clicks)
Last edited 09/04/2024 - 13:57 by 2 other users
Last edited 09/04/2024 - 13:57 by 2 other users
Referral Links
Referral: random (386)
Referrer gets US$50 of fractional shares.
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Comments
Does this function in Australia?
ASIC Financial Services License, since 2018, ABN since 2006
https://connectonline.asic.gov.au/RegistrySearch/faces/landi…
ponzi interest, gonna collapse from a shitty leverage
Does not pass the sniff test for me either…. How do they make money, if your funds are segregated, awaiting your investment decision
@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
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.
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.
A rose by any other name…..
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, MOREYeah…. nah….
Not worth the risk for extra 1.6% vs AMP savings account
ANZ Plus - 4.9% with no conditions to get bonus interest. Only catch is it's all done through an app.
How long shall we keep building this pyramid?
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.
Asic is not an effectively regulator. Do not trust
This will not end well.
Someone is holding the costsThey 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.
How much did they promise/owe you for the bonus?
@watwatwat I finally managed to get paid the signup cashback despite it looking to me like Tiger were being deceitful to ShopBack.
Scam