TigerWit was founded in 2015, since its inception TigerWit has , since spread its reach across the globe as it accumulates new licensing and brings new products to market. Although it is a relatively newer entrant to the online trading space, the company now counts more than 250,000 traders amongst its ranks, having generated more than $20 billion of trading volume in 2018 alone. With a keen focus on incorporating mobility with investing and a clean interface designed to support users, TigerWit delivers an intuitive, effective trading ecosystem.
One of the defining characteristics of TigerWit is its outsized emphasis on building technology infrastructure to support a superior trading experience. Thanks to its roots in financial technology solutions, the TigerWit trading ecosystem is uniquely built on top of and powered by blockchain. This means that all transactions are recorded and verified on the blockchain-based distributed trading ledger, creating a permanent record of all transactions across the ecosystem to support unrivaled transparency, security, accountability, and ultimately trust in the service.
TigerWit Pros & Cons
Pros
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Highly intuitive mobile application
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Negative balance protection for accounts
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Regulated and licensed services provider
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All transactions recorded to blockchain ledger
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Hedging trades allowed
Cons
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Limited range of tradeable assets
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Sparse educational materials
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Few market analysis tools
Who Is TigerWit Recommended For？
TigerWit makes a strong effort to cut through the noise by focusing on the absolute essential components that investors require to support their ongoing trading efforts. The company has devoted ample resources to develop a robust mobile ecosystem that can capably handle every aspect of the process from registering an account, executing trades, charting price movements, moving funds, and even copying other traders strategies. This no-gimmick approach to providing trading solutions is best suited towards more experienced traders that are familiar with online trading, have an established strategy, and appreciate added mobility to take their trading on the go.
Both advanced users and experts alike can also enjoy no-commission models and affordable spreads. Moreover, the emphasis on blockchain-supported transparency and reliability is especially attractive for technology-centric users seeking absolutely accountability and security. The platforms highly accessible nature and addition of copy trading means that even less experienced investors can connect to a winning strategy with just a few taps on a smartphone screen.
Top TigerWit Features
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Blockchain Powered Trading Platform: To give traders unrivaled transparency, TigerWit has built its own permissioned blockchain that powers the ecosystem to permanently record all transactions, which can later be searched by traders, partners, and regulators.
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Proprietary Trading Application: Alongside the industry standard MetaTrader 4 platform, TigerWit has also developed its own proprietary application for iOS and Android devices. The application capably allows users to handle all the registration and compliance processes, along with trade management, copy trading, and more.
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Copy Trading Support*: Beginners seeking to mirror the strategies of more experienced investors or professionals who wish to share their own successful strategies with others can join TigerWits streamlined copy-trading technology which is fully automated for easy accessibility.
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Commission Free Model: The TigerWit platforms affordable spreads are complemented by the absence of commissions on all trades, ensuring that investors gain access to global markets without high barriers and excessive costs for placing trades.
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Trade Cryptocurrency CFDs: TigerWit clients can trade cryptocurrencies with access to 4 CFD pairs including popular coins bitcoin, Ethereum, Litecoin, and Ripple. The structure as a CFD means that traders can also establish short positions in cryptocurrencies and access leverage for these products.
TigerWit Compliance & Regulation
Although originally operating across the Asia-Pacific region, TigerWit has expanded its global presence by picking up licensing from the UK Financial Conduct Authority (FCA) after acquiring UK-based Mercor Index in 2018. This specific operating license and regulation benefits UK clients because it affords them inclusion in the UK Financial Services Compensation Scheme (FSCS) which entitles traders to up to GBP 50,000 in compensation if TigerWit faces financial hurdles. Moreover, licensing from the Securities Commission of the Bahamas (SCB) helps TigerWit extend its offerings to clients in many other global jurisidctions. Furthermore, client funds are held in accounts segregated from the company‘s operational funds, adding an extra layer of protection for safeguarding clients’ funds.
TigerWit Pricing
One of the areas where TigerWit really shines is its straightforward pricing and fee methodology. Unlike other brokers that charge commissions, TigerWit has a commission-free trading model that only charges variable spreads for client trades. Spreads are generally affordable and competitive, starting at 0.6 pips but may be slightly wider than other peers, especially during periods of heightened volatility or low liquidity. For the automated copying system available to the platform‘s users, a flat 20% performance fee (or commission) is deducted from the positive results generated by a master’s strategy once month. This occurs on the 10th of every month, and only in the event of positive performance.
In terms of funding accounts and withdrawing funds, TigerWit is also very upfront about its own assessments. Clients can fund their accounts with several different payment methods, each of which incur no fees from TigerWit. However, the company cautions that the payment channels themselves, whether credit card, bank transfer, or eWallet, may charge fees associated with their actions which could include currency conversion fees, transaction fees, or possibly transit costs. Clients are entitled to four free withdrawals per month from TigerWit, after which a fee of $1 per withdrawal is charged. Again, this of course, does not account for any fees assessed by the payment channels.
TigerWit Reliability & Security
One of the unique attributes of TigerWit also happens to be amongst its most valuable: the inclusion of blockchain technology. Although blockchain is still very new technology, TigerWit‘s implementation is designed to ensure that the platform is secure, transparent, accountable, and above all reliable. Clients, partners, and even regulators can review summaries of the data while keeping clients’ transaction details private. Moreover, this added degree of transparency and reliability is complemented by trading platforms and applications that ensure clients are at the center of the companys focus.
Apart from supplying the industry standard MetaTrader 4 platform, the inclusion of the web platform and proprietary application ensures that clients can reliably maintain their accounts and open positions on the go, even when away from their trading terminals. Clients that require assistance have multiple avenues available for contacting the company. Should trouble arise, clients can consult support representatives in 8 languages via email, telephone, and live chat. Moreover, the company hosts resources pertaining to its services, terms, and even an FAQ designed to cover various aspects of the client experience from registration and account funding to trading and associated fees like swaps.
TigerWit User Experience
Because it is a fintech company, TigerWit is committed to providing a superior user journey from the initial registration and compliance processes through to eventual trade executions. The companys proprietary application underscores this viewpoint, with nearly all account activities from signup to verification achievable directly from iOS and Android devices. For clients more comfortable signing up on the company website itself, the web-based progression mirrors the mobile device process, helping users quickly access the ecosystem and begin trading.
Like any other regulated broker, TigerWit does request compliance documentation from clients to fulfill Know Your Customer (KYC) requirements and adhere to strict Anti-Money Laundering (AML) rules. After registering, clients are forwarded a verification code which is used to complete the process and move into the funding stage. Funding is meant to be seamless, and depositing funds can be accomplished through the most common methods including credit card, bank transfer, and eWallets. Withdrawals are also simple to process directly through the client portal, and customers generally receive funds within days.
Clients have several platforms at their disposal. Apart from the fully featured application which enables clients to review markets, place trades, update account settings, and even copy other traders, TigerWit traders have access to both desktop and web versions of MetaTrader 4. This ensures that no matter the location or type of technology, TigerWit clients can access the financial markets directly. For those clients that are interested in using the automated trade copy feature, TigerWit has designed a very simple portal for evaluating Master strategies and eventually implementing them.
Masters can be filtered and sorted by three different criteria including profitability, stability, and consistency. Clients can do extra diligence by entering a Master profile to see statistics, open trades, trade history, and even define a time period to measure Masters performance. Once a client has identified the preferred Master, they can elect to hit Follow and begin mirroring the strategy activities and execution of the Master account. For professionals and experienced traders interested in becoming Masters, they simply need to maintain account equity of more than $500 after self-trading for more than 20 days and achieving overall profit of 20% or more during the period.
Final Thoughts on TigerWit
When it comes to delivering flexibility, approachability, accessibility, and security, TigerWits trading ecosystem capably fulfills all these important qualities. By powering its system with blockchain, TigerWit provides unrivaled transparency and security for trade reconciliation and reporting. Moreover, its approach to reducing barriers to entry assures that traders can get started with a low initial deposit and even make small trades that start at 0.01 lots. With multiple asset classes to choose from, adjustable leverage, affordable spreads, and no commissions, TigerWit ensures that all traders can fine-tune the platform to meet their needs.
For traders who prefer a more hands-off approach to account management, available copy-trading technology empowers users to mirror strategies that match their risk profiles. Professionals will also appreciate the opportunity to share their own successful strategies with other platform clients. Although the platform could benefit from added analysis tools and research materials, intermediate and experience traders seeking a regulated and streamlined approach to trading will appreciate TigerWits technology-centric client focus.
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