US Stock Broker Opening Guide: Fees, Security, and App Experience Comparison (Futu vs Tiger vs Firstrade)

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Choosing which broker for US stock account opening mainly depends on your core needs.

• Pursuing Ultimate Low Costs: If you seek pure trading functions and the lowest costs, Firstrade is your top choice.
• Valuing Comprehensive Experience: If you prioritize app comprehensive experience, community interaction, and rich data, Futu Niuniu performs best.
• Seeking Balanced Functions: Tiger Brokers achieves a good balance between functions, costs, and experience. It has therefore attracted a large number of investors, reportedly occupying nearly 60% market share in US stock trading volume for Chinese investors.

Key Points

• When choosing a US stock broker, you need to consider fees, app functions, and security.
• Firstrade has the lowest trading fees, suitable for cost-focused investors.
• Futu Niuniu has the most powerful app functions and an active community, ideal for investors who like a comprehensive experience.
• Tiger Brokers finds a balance between fees and functions, and it also provides free US stock Level 2 quotes.
• All three brokers are regulated in the US and offer SIPC protection, so your funds are safe.

Core Dimensions Comparison Overview

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Before making your final decision, quickly understanding the core differences among these three brokers is crucial. A comprehensive overview can help you rapidly identify the choice that best matches your needs. We have prepared a clear comparison table summarizing the key metrics investors care about most.

Futu, Tiger, and Firstrade Key Metrics Quick View

Through the table below, you can intuitively see their performance in fees, security, functions, and other aspects.

Quick Interpretation: From the table, you can clearly see that Firstrade has an absolute advantage in costs, achieving true zero commissions and zero platform fees. While Futu and Tiger also offer zero-commission options, they usually charge a platform usage fee. However, they provide far more value-added services beyond basic trading in app functions, data tools, and community ecosystem.

Through the table above, you can quickly grasp the core similarities and differences among the three. Next, we will delve into the most important dimensions to help you make a more informed decision.

Fees Comparison: Full Analysis of Trading Costs

Trading costs are a key factor affecting your investment returns. Even seemingly insignificant fees can accumulate into a considerable amount in high-frequency trading or long-term holding. Therefore, carefully reviewing each broker’s fee structure is crucial.

Trading Commissions and Platform Fees

Commissions and platform fees are your most direct costs per trade. These three brokers adopt completely different strategies in this core fee.

• Firstrade: True Zero-Cost Trading If you are extremely cost-sensitive, Firstrade is undoubtedly your best choice. It truly achieves $0 commissions and $0 platform fees. This means when you trade US stocks, ETFs, options, and other products, the broker level charges no execution fees. Your trading costs only involve very low regulatory fees from exchanges and authorities.
• Futu Securities (Futu): Flexible Platform Fee Plans Futu also offers $0 commission US stock trading but charges a platform usage fee. It provides two different fee plans for you to flexibly choose based on your trading frequency.
  1. Fixed Plan: This plan charges per share, $0.0049 per share, with a minimum of $0.99 per order. This plan is very suitable for ordinary investors with fewer shares traded or larger single amounts.
  2. Tiered Plan: This plan determines the rate based on your cumulative monthly traded shares—the higher the volume, the lower the rate.

  Tip: How to choose Futu’s plan? A simple criterion: If your monthly traded shares are less than 274,000, the fixed plan is more cost-effective; if you are a high-frequency trader with huge volume, the tiered plan will save you more costs.

• Tiger Brokers: Balanced Choice with Free Value-Added Data Tiger Brokers’ fee structure is similar to Futu’s, also using “$0 commission + platform fee” mode. Its standard charge is $0.005 per share platform fee, with a minimum of $1 per order. Therefore, total fees per trade are usually $0.005 per share, minimum $1.

  Tiger’s Hidden Cost Advantage Notably, Tiger Brokers provides free US stock Level 2 depth quotes to all users. On other platforms, this service usually requires paid subscription, costing $10 to $30 monthly. For active traders needing market depth and order flow, this saves considerable fixed expenses.

Funding/Withdrawal and Other Hidden Fees

Besides trading fees, fund deposits and withdrawals (funding/withdrawal) and other potential fees also need consideration.

1. Funding/Withdrawal Fees

For investors in mainland China, the main funding method is international wire transfer. This process usually involves the sending bank, intermediary banks, and receiving broker, with fees from these parties.

Fee Interpretation: All three brokers charge no funding fees on their side, but your remitting bank and intermediaries charge fees, usually $20 to $50. For withdrawals, Firstrade clearly charges $25, while Futu and Tiger’s fees are relatively higher. Firstrade’s wire fee subsidy policy is very friendly for large funding users.

2. Other Hidden Fees

The good news is that these three brokers are very modern, eliminating many miscellaneous fees from traditional brokers.

• Account Inactivity Fee: All $0. You don’t worry about account management fees for long-term inactivity.
• Account Maintenance Fee: All $0. Opening and maintaining accounts are free.

This means holding an account incurs basically no maintenance costs unless you trade or withdraw funds.

Top Choice for Cost-Sensitive Investors

Now, let’s answer the most critical question: Which is the cheapest?

• If you are an ultimate low-cost investor with low trading frequency or wanting to maximize every dollar’s investment efficiency, Firstrade is undoubtedly the champion. Its $0 commission and $0 platform fee mode minimizes your trading costs.
• If you are willing to pay a little for more powerful functions and better experience, Futu and Tiger are worth considering. You need to ask yourself: Free L2 quotes (Tiger) or more flexible fee plans (Futu)—which helps your investment decisions more? For active traders, Tiger Brokers’ free L2 data may be more valuable than saved platform fees.

In summary, fee choice is essentially your trade-off between “cost” and “service.”

Security Analysis: Are Funds and Accounts Protected?

Depositing funds with a broker, security is your first consideration. Whether your investments are safe depends on the broker’s regulatory qualifications, investor protection mechanisms, and operational background. Fortunately, all three brokers are strictly regulated in the US, providing solid protection for your assets.

Regulatory Licenses and Compliance Qualifications

A broker’s reliability first depends on whose licenses it holds. In the US, the most important regulators are the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).

• Futu Securities, Tiger Brokers, and Firstrade are all registered with the US Securities and Exchange Commission (SEC) and members of the Financial Industry Regulatory Authority (FINRA). This means their operations must comply with strict US financial regulations.
• Futu Securities has a particularly prominent compliance system. Its parent company holds over 100 licenses globally, and subsidiary Futu Securities International (Hong Kong) Limited holds multiple licenses from the Hong Kong Securities and Futures Commission (SFC), including Types 1, 2, 4, 5, 7, 9, covering securities trading, futures contracts, asset management, and more.
• Firstrade as a long-established US native broker is also a long-term FINRA member, focusing on services under the US regulatory framework.

SIPC Investor Protection Mechanism

Beyond institutional regulation, your account enjoys direct financial protection from the Securities Investor Protection Corporation (SIPC).

What is SIPC? SIPC is a non-profit organization. If your broker unfortunately fails, SIPC intervenes to help recover securities and cash in your account.

All three brokers are SIPC members. This means your account enjoys SIPC protection.

Coverage Amount: Each account can receive up to $500,000 coverage, including up to $250,000 for cash.

This protection greatly enhances the security of your deposited funds, freeing you from worries about broker operational risks.

Underlying Clearing and Broker Background

Who actually custodies your assets? This involves the broker’s clearing model.

• Firstrade is a self-clearing broker, meaning it has its own clearing system to handle trades and custody client assets—a sign of strong capability.
• Tiger Brokers clears through its US clearing firm TradeUP Securities, Inc. This firm is also SEC and FINRA licensed and an SIPC member, ensuring compliant and secure asset custody.
• Futu Securities US business operates through its regulated subsidiaries, with Tencent as a strategic investor, providing additional confidence from strong group backing.

In summary, no matter which you choose, your assets are under the strict protection of the US financial regulatory system, with full security assurance.

App Experience and Functions: Who Wins?

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Once you select a broker, its app becomes your daily investment companion. An excellent app not only makes trading smooth but also provides valuable information to aid better decisions. In this aspect, the three brokers exhibit completely different product philosophies.

Interface Design and Operation Smoothness

The app’s first impression is crucial, directly affecting your trading efficiency and mood.

• Futu Niuniu (Futu): Interface is feature-rich with high information density. For beginners, initial use may feel somewhat complex. But once familiar, you’ll find its professional design and comprehensive functions unmatched. Overall operation is very smooth, with fast response, capable of handling complex data display and high-frequency operations.
• Tiger Brokers: Achieves good balance in design. Its interface is simpler and more intuitive than Futu’s, friendlier to beginners. You can easily find core functions with a gentle learning curve. At the same time, it retains enough professional functions to meet advanced user needs.
• Firstrade: Adheres to minimalism. Its app design is very basic, with all functions centered on core trading needs. You won’t find fancy charts or complex community features here. Its advantage lies in simplicity and directness, allowing distraction-free trade execution.

One-Sentence Summary: If you want an app as a “super financial terminal” integrating quotes, trading, information, and community, Futu and Tiger are your choices. If you want a pure, stable, interference-free “trade execution tool”, Firstrade fully qualifies.

Core Trading and Data Tools

Beyond basic buy/sell functions, powerful data tools are key to analyzing markets and discovering opportunities.

• Futu Niuniu: “Data Arsenal” for Professional Investors Futu leads in depth and breadth of data tools. It not only provides powerful K-line and intraday charts but integrates many unique advanced analysis tools.
  • Intelligent Pattern Analysis: Futu offers “Pattern Interpretation” function, using algorithms to analyze historical K-line data and recent price trends to predict short-term price movements. You can also use “Pattern Screener” to screen massive stocks for specific technical patterns via big data, supporting 20 bullish or bearish patterns including double bottoms and head-and-shoulders bottoms.
  • Powerful Charting Functions: Use rich technical indicators, perform chart overlay analysis, and set refined price alerts.
  • Deep Fundamental Data: App integrates detailed fundamental analysis materials to help research from the company itself.
• Tiger Brokers: “Cost-Effective Choice” with Free L2 Quotes Tiger Brokers provides balanced functions while offering an attractive “killer feature”—free US stock Level 2 depth quotes.
  • Free Level 2 Quotes: L2 data (like TotalView Quotes) usually paid on other platforms—you simply complete a “non-professional investor questionnaire” in the Tiger app for free access. This lets you see deeper market bid/ask books, especially valuable for short-term traders.
  • Practical Analysis Tools: Tiger also provides powerful analysis. Find professional “Analyst Ratings” summaries in the app, and “Valuation Analysis” to judge stock pricing.
  • Powerful Options Tools: For options traders, Tiger’s app offers multiple professional tools, such as:
    • Bullish/Bearish Ratio: Helps gauge overall market sentiment.
    • Volatility Curve: Assists understanding market expectations for future volatility.
• Firstrade: Focused on Core Trading Firstrade’s data tools are relatively basic, mainly meeting regular trading needs. It provides real-time quotes and basic charting but lacks the deep analysis and unique tools of Futu and Tiger. This aligns with its $0 fee positioning—providing core services, stripping value-added functions.

Community Ecosystem and Unique Features

Investing doesn’t have to be a lonely journey. An active community lets you access information, exchange experiences, and even discover new investment ideas.

• Futu Niuniu: Massive and Active “Niuniu Circle” Futu’s mission is to make investing “no longer lonely”, fully embodied in its community product “Niuniu Circle.”
  • Huge User Base: Niuniu Circle has over 28.2 million users, where you can interact with massive investors, observe top investors’ real strategies, and even join listed company earnings live streams.
  • High-Quality Information Flow: Community has continuous market information and in-depth reports, with platform optimizing content based on user behavior to ensure you see the most valuable information.
  • Learning and Growth: This community-driven mode turns investing from individual decisions into group learning, greatly lowering the barrier for beginners.
• Tiger Brokers: Functional Investor Community Tiger Brokers also has its own community where users share views and discuss markets. Its community focuses more on information access and hot topic tracking, with good activity but overall social attributes and ecosystem depth somewhat behind Futu’s “Niuniu Circle.”
• Firstrade: No Community Features Firstrade has no built-in social or community functions. It invests all resources in ensuring stable and low-cost core trading, suitable for investors who prefer independent thinking without external interference.

In summary, for app experience and functions, Futu Niuniu leads with its ultimate depth and powerful community ecosystem, providing the best experience for users seeking professionalism and interaction. Tiger Brokers is highly attractive with balanced design and unique features like free L2 quotes. Firstrade sticks to its minimalist essence, offering the purest trading tool for cost-sensitive and minimalist investors.

US Stock Account Opening Process and Threshold Comparison

After selecting a broker, the next step is opening an account. Fortunately, all three brokers offer convenient online US stock account opening processes. You just need to prepare corresponding materials and complete the application in minutes.

Required Materials and Qualifications for Account Opening

As non-US residents, the required materials are very simple. The entire US stock account opening process basically needs no complex paper documents.

• Valid ID: This is the most important document. Futu and Tiger usually require your ID card, while Firstrade needs you to upload valid passport copies.
• W-8BEN Form: This is a tax form declaring your non-US resident status for tax benefits. No need to prepare in advance—the system guides you to fill and submit online during opening.

Note: As international clients, you can only apply for individual investment accounts, not joint accounts. Additionally, confirm your country/region is within the broker’s service scope. For example, Firstrade supports users from multiple countries/regions including China, Singapore, Malaysia, and New Zealand.

Online Account Opening Process Convenience

All three brokers strive to simplify online processes, but experiences vary.

• Futu Securities and Tiger Brokers: These two offer very smooth mobile app account opening experiences. The entire process has clear Chinese guidance—you just fill information, upload documents, and complete facial recognition as prompted. Approval is fast, usually within 1 to 3 business days.
• Firstrade: Its process is similarly direct, but approval time is relatively longer, sometimes about two weeks. However, its advantage is extremely simple materials, usually just a passport, no address proof needed.

Overall, if you seek ultimate speed and guided experience, Futu and Tiger excel. If you don’t mind slight waiting, Firstrade’s minimalist material requirements are very attractive.

Minimum Funding Requirement

This is a concern for many beginners. The good news is all three are very friendly.

All $0 Minimum Funding Requirement

Yes, you read correctly. Futu, Tiger, and Firstrade all have no minimum funding threshold. This means after completing US stock account opening, you can fund your first deposit at your own pace and amount, even if small.

When ready to fund, usually via international wire transfer through Hong Kong licensed banks etc. If you encounter difficulties in currency exchange or wire processes, you can also consider third-party services like Biyapay to assist funding.

We hope this comprehensive comparison helps you find the broker best suited for you. Our core advice is very clear:

• Pursuing Ultimate Low Costs: If fees matter most, Firstrade is your undisputed choice.
• Valuing App Experience and Community: If you want powerful data tools and active community, Futu Niuniu has clear advantages.
• Seeking Balance in Functions and Costs: Tiger Brokers performs balanced across aspects, a steady choice.

Act Now, Claim Exclusive Rewards! Each broker offers generous newcomer rewards. The table below summarizes the latest promotions, helping your final decision and smooth US stock account opening.

FAQ

What taxes do non-US residents pay on US stock investments?

You mainly need to focus on dividend tax. As a mainland China investor, US stock dividends are usually withheld at 10%. The good news is your stock trading gains, i.e., capital gains, are generally tax-exempt.

Core Points: Capital gains tax-exempt, dividend tax rate 10%.

Besides US stocks, what other products can I trade?

All three brokers support trading multiple financial products. You can choose based on your strategy:

• Exchange-Traded Funds (ETFs)
• Options
• Some brokers also support futures and bonds

Can I fund with Alipay or WeChat?

No. Currently, none of these three brokers support direct funding via Alipay or WeChat. For mainland China investors, the main funding method is international wire transfer through Hong Kong licensed bank accounts.

If I still can’t decide, how to choose?

Ask yourself one question: What do you value most?

• If the answer is ultimate low costs, then Firstrade is your top choice.
• If the answer is best app experience and community, then Futu Niuniu won’t disappoint you.