This article is probably going to be a short one. I decided to write this out as a notice or some sort to help people who are confused by the closing process of a Tiger Brokers account, because I certainly was.
Disclaimer: I am not a professional financial advisor, and all my articles regarding finance and investing are pure opinions and by no means financial advice. Especially those before this article and this article included.
P.S. If you are confused, during this time, by the noises about bonds or stocks better, I wrote this article on my own opinions and thought process.
So what’s the matter that I need to write out an article about it? Let’s get into it!
Problem
I had decided to close my Tiger Brokers account some time in between mid to end August 2022.
P.S. If you noticed, I have removed my referral code/link from my articles (if you spotted one or more, please let me know so I can remove them manually).
So, just like any normal scenario, I would expect it to be easy to find the way to close an account through an online process without needing to contact (email or calling) the customer support.
I was mistaken. Somehow, the very first step to closing an account was hard to find, which is the link or tab or any navigation that points you to closing the account. At least I had a hard time finding it.
I had to google it. Here is the link if anybody wants to know.
What’s worse, and what I had noticed, is that no articles were written about closing an account. Somehow, they are all about how to open an account and depositing money only.
Then, you should be redirected to login to your account, and upon logging in, I think you would be at a tab or page where you can close your account.
This step is pretty step forward, until it isn’t. This is because, after you have closed your account, you would expect some sort of notification or email stating that you have decided to close your account or something similar.
However, there was none. This is the second problem. As a software engineer that has worked full stack with designers before, this is definitely not a good UX to me. I didn’t know what happened, so I decided to click on the cancellation link again to do it again. This is because I thought it wasn’t working.
I was brought to confusion yet again. Tiger Brokers has a pretty seamless sign up process, I would say, as when you input your phone number to sign up and login, you would create an account automatically if you don’t have one.
This, on the other hand, created another problem. I was “logged in” as if I had an account. I didn’t know it was actually a sign up, or I didn’t pay attention. So I tried to close it again and there was no notification again. It was until another repetition, that I realised the referral code was different.
This is when I had the thought that maybe my account had been submitted or processed successfully but there was nothing. So I decided to email their customer support.
True enough, after querying with their customer support, I was informed that it has been closed successfully after they helped me check in the system. This is about a week after I had closed my account.
Then, they would tell you that they will ask their (IT?) department to send you another email, about your Account Closure Confirmation. It is in PDF.
It basically states that your account has been closed successfully. It also contains information about your details, as well as the date you had closed your account (which is the important confirmation in my opinion).
Conclusion
So that’s it! It was a confusing experience for me overall. I am not sure if they had improved their UX by now, but to anybody that plans or is planning or in the process to close your account, this article describes how it is pretty much so that you know what to do or look out for.
To summarize, they are:
- You go to the link I provide
- Follow whatever Tiger Brokers writes there to cancel your account
- Login
- Close account
- Send an email to their customer support, stating you had closed your account and would like a confirmation
- Finally, you will receive a PDF file about your Account Closure Confirmation
That’s all for this article. Feel free to share this piece of information to anybody that you feel will help them. Write in the comments below about your own experience closing accounts if any. Feel free to share as that’s how we help each other learn!
Thank you for reading.
If you plan to open up account for investing, you can use my referral to sign-up with free gifts (as of writing):
- WebullSG
- MooMoo
- Interactive Brokers
- StashAway
- Syfe (Referral code: SRPT38VH3)