Head to head
Directa SIM vs Tiger Brokers — which broker is better?
Directa SIM or Tiger Brokers? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
Directa SIM
Online SIM since 1995 for investors in Italy: three commission profiles, no custody fee, a free ETF savings plan and tax handled under the regime amministrato.
- Stocks (per order)
- €5
- Minimum deposit
- None
- 5,000 order
- €5
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Tiger Brokers
A Nasdaq-listed multi-market app broker licensed in Singapore, Hong Kong and Australia, with a long product list and a regulatory record in mainland China that belongs in the decision.
- Stocks (per order)
- 0.06 %
- Minimum deposit
- None
- 5,000 order
- €3
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
The verdict in numbers
Four decision axes, each derived from the recorded data.
Overall Tiger Brokers takes it, 4.1 against 4.0 out of 5. Tiger Brokers is the cheaper of the two: a reference EUR 5,000 stock order costs €3.00 there against €5.00. Tiger Brokers scores 78 against 49 out of 100 on the group index. Your account's protection depends on its legal entity. Directa SIM covers more ground with 12 of 14 asset classes against 10. On platform and app Tiger Brokers is ahead, 4.4 against 3.9 out of 5. Which one is right depends on which of these axes matters for your trading profile.
- Directa SIM
- 4.0
- Tiger Brokers
- 4.1 — Better
- Directa SIM
- €5.00
- Tiger Brokers
- €3.00 — Better
- Directa SIM
- 49 of 100
- Tiger Brokers
- 78 of 100
- Directa SIM
- 12/14 — Better
- Tiger Brokers
- 10/14
- Directa SIM
- 3.9
- Tiger Brokers
- 4.4 — Better
Compare brokers side by side
Up to four brokers at once — every row a decision point.
Data as of: 02 Nov 2026
| Criterion | Directa SIM 4.0 Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. | Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. |
|---|---|---|
| Overall score | 4.0 | 4.1 — Better |
| Group index | 49 of 100 | 78 of 100 |
| Best for | Investors resident in ItalyActive traders on Borsa ItalianaETF savers using a free PACInvestors who want the regime amministratoFutures and options traders on IDEM and Eurex | Singapore investors using CDP, CPF or SRSMulti-market stock and options traders in Asia-PacificHong Kong residents who want stocks and crypto in one appFutures traders on CME, HKEX and SGX |
| Regulation | CONSOBBanca d'Italia | MASSFCASIC |
| Top-tier licences | 0 | 3 — Better |
| Investor protection | €20,000 | US$500,000 — Better |
| Listed group | Yes | Yes |
| Banking licence | No | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | No | No |
| Audited financials | Yes | Yes |
| Disclosed regulatory actions | 4 | 2 |
| Founded | 1995 | 2014 |
| Headquarters | Turin, IT | Singapore, SG |
| Fees | 4.2 — Better | 4.0 |
| Safety & regulation | 3.6 | 3.9 — Better |
| Trading platform | 4.2 | 4.3 — Better |
| Product range | 4.3 | 4.3 |
| Mobile app | 3.5 | 4.4 — Better |
| Research | 3.6 | 4.0 — Better |
| Customer support | 4.0 — Better | 3.6 |
| Deposit & withdrawal | 4.0 | 4.0 |
| Account opening | 4.2 | 4.3 — Better |
| Education | 3.7 — Better | 3.6 |
| Reference order EUR 5,000 | €5.00 | €3.00 — Better |
| Minimum deposit | None | None |
| Stocks (per order) | €5 | 0.06 % — Better |
| US stocks | US$9 | US$0.01/share — Better |
| ETFs | €5 | 0.06 % — Better |
| Options | €2.50 | US$0.65 — Better |
| Futures | tiered | US$2.99 |
| Crypto | 0.2 % | 0.05 % — Better |
| Bonds (order) | €5 — Better | 0.12 % |
| Funds (order) | 0.19 % | Free |
| EUR/USD spread | n/a | n/a |
| Index CFD spread | n/a | n/a |
| FX conversion | n/a | n/a |
| Inactivity fee | None | n/a |
| Custody fee | None | None |
| Withdrawal fee | free | free |
| Deposit fee | free | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 12 — Better | 10 |
| Exchanges | n/a | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| Forex | Yes | No |
| CFDs | Yes | No |
| Crypto | Yes | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | Yes | Yes |
| Spread betting | No | No |
| Social trading | No | No |
| Crypto access | crypto derivatives only (no coins of your own) | Broker, real coins; coins to your own wallet: only for certain coins |
| Platforms | dLiteDarwin 2LiberaDirecta AppDirecta APITraderlink Visual Trader | Tiger Trade appTiger Trade desktopTiger Open Platform (API) |
| Demo account | Yes | Yes |
| Fractional shares | No | Yes |
| Maximum leverage | Margin trading on shares: dynamic margin of up to five times the available cash on selected stocks, with margins of 50% to 20% depending on volatility (10%… | 1:4 |
| Account opening | Online in a few minutes with Italian digital identity: SPID, the electronic identity card (CIE) or SelfID with a codice fiscale, signed by OTP; the contract is normally active within minutes | Fully online in the Tiger Trade app or on the website; Singpass in Singapore (accounts opened within 1–3 business days); in Hong Kong the initial deposit must come from a Hong Kong licensed bank account for verification |
| Account types | Conto Directa (direct account)Indirect account via a partner bankInvesti Italia PIRCorporate account | Cash account (Singapore)Margin account (Singapore)Cash Boost Account (Singapore)Demo accountVirtual asset account (Hong Kong) |
| Payment methods | Bank transferSEPASEPA Instant | Bank transferWise |
| Account currencies | EUR | SGDUSDHKDAUDEUR |
| Deposit time | SEPA transfers are normally credited by the next business day; urgent transfers the same day if they arrive by 17:15; instant transfers from a registered IBAN within 60 minutes (the first transfer from a new IBAN within 2 to 3 business hours) | Singapore: SGD by DDA from DBS/POSB in about 5 minutes; SGD by FAST from 15 minutes during business hours; other currencies 1–2 business days; from banks outside Singapore 1–3 business days |
| Withdrawal time | Free SEPA transfer to one of up to three registered IBANs in your own name, confirmed by OTP; Directa states no processing time on the pages we read | Singapore: review of 1–2 business days, then 1–3 business days by FAST, MEPS, FPS or telegraphic transfer |
| Free withdrawals | n/a | n/a |
| Languages | ItalianEnglish | EnglishChinese |
| Channels | PhoneLive chatEmail | PhoneEmailLive chatWhatsApp |
| Availability | Phone Monday to Friday 08:00–20:30, live chat Monday to Friday 08:00–22:00 (Italian time); e-mail at directa@directa.it | Singapore: phone weekdays 08:30–18:30 SGT, online chat and WhatsApp weekdays 08:30 to 05:00 the next day. Hong Kong: phone weekdays 09:30–18:30 HKT, online chat weekdays 09:30 to 05:00 the next day |
Strengths and weaknesses side by side
Editorial assessment based on the recorded data.
Directa SIM
Online SIM since 1995 for investors in Italy: three commission profiles, no custody fee, a free ETF savings plan and tax handled under the regime amministrato.
Pros
- No custody, platform or market-access fee on the standard account, free transfers, and Directa pays the stamp duty on cash itself
- Italian shares and ETFs from EUR 5 per order (Semplice), down to EUR 1.50 per order for active traders (Dinamico), or 1.9 per mille with a EUR 1.50 minimum (Variabile)
- PAC in ETF savings plan free on every order, with more than 900 ETFs and ETCs and up to four dates a month
- Real-time quotes free for private clients on Borsa Italiana, NYSE, Nasdaq and AMEX
- Withholding agent under the regime amministrato: the 26% substitute tax is calculated and paid for you, and losses carry forward for 4 years
- Broad range: shares from Italy, the US, Germany, Switzerland and via Cboe Europe, ETFs on Euronext Milan, Paris and Amsterdam, bonds, certificates, options, futures on IDEM, Eurex and CME, and CFDs via LMAX
- Four in-house platforms (dLite, Libera, Darwin, Classic) plus an app, all free, and a free 15-day demo with EUR 100,000 of virtual money
- Listed on Euronext Growth Milan, audited by KPMG, with half-year reports that include client numbers: 166,261 active accounts at 30 June 2026
Cons
- Directa is a SIM, not a bank: cash held directly is covered by the Fondo Nazionale di Garanzia only up to EUR 20,000 (a EUR 100,000 bank deposit guarantee applies only to indirect accounts via partner banks)
- Several CONSOB and Banca d'Italia sanction procedures since 2024, and a pending criminal trial in Turin involving the company under d.lgs. 231/2001 and some of its officers
- Foreign markets at ordinary prices: USD 9 per US order, 0.025% with a EUR 9.50 minimum on Xetra, 0.03% with a CHF 20 minimum on SIX
- No interest on cash in the account
- Fractional shares not documented (we found no mention of them), and funding only by bank transfer from your own accounts in the SEPA area
- Built for residents of Italy: onboarding requires SPID, CIE or SelfID with a codice fiscale, and the website and tax service are Italian
Best for
Tiger Brokers
A Nasdaq-listed multi-market app broker licensed in Singapore, Hong Kong and Australia, with a long product list and a regulatory record in mainland China that belongs in the decision.
Pros
- At Tiger Brokers Singapore, one Tiger Trade account reaches US, Hong Kong, Singapore, China A-share (Stock Connect) and Australian stocks, plus US and HK options, futures, US Treasuries and over 1,500 funds
- Low SGX pricing at Tiger Brokers Singapore: 0.03% commission plus a 0.03% platform fee (minimums SGD 0.99 and SGD 1), and the SGD 2 quarterly SGX custody fee is waived until further notice
- Licensed group companies in Singapore (MAS), Hong Kong (SFC, CE BMU940) and Australia (ASIC, AFSL 300767) under a Nasdaq-listed parent (TIGR)
- Singapore-specific features: the Cash Boost Account with CDP, CPF and SRS linkage, Singpass onboarding and no minimum deposit
- Free US Level 2 data (NYSE ArcaBook) and a free demo account with USD 1 million in virtual funds
- Auto-invest from USD 2 in US stocks and ETFs, HKD 500 in HK stocks and SGD 100 in SGX stocks, daily to monthly (SGX plans on the 1st and 15th of each month)
- Hong Kong clients can trade BTC, ETH, SOL, AVAX and LINK as retail investors under the SFC licence, with on-chain deposits and withdrawals for BTC and ETH (USDT for professional investors only)
Cons
- China's CSRC Beijing Bureau imposed penalties and confiscations of about RMB 411 million (about USD 59.7 million) on group subsidiaries on 22 May 2026, after an earlier CSRC finding of unlicensed cross-border business reported in January 2023
- US shares are not commission-free in Singapore: USD 0.005 per share commission plus USD 0.005 per share platform fee (minimums USD 0.99 and USD 1 per order) plus a USD 0.003 per share settlement fee
- The New Zealand company is registered as a client money and property service provider but states that it is not licensed by a New Zealand regulator
- Prices, products and protection differ by entity, and some advertised prices (the HK commissions for targeted participants, the US option coupon plan) are time-limited promotions or need activation
- Moving holdings out of Tiger Brokers (HK) costs USD 150 per US stock and HKD 500 per Hong Kong stock, and neither the Singapore nor the Hong Kong pages we read state what currency conversion costs
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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