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Ndovu vs Tiger Brokers: fees, markets and protection

Facts for both companies from their official pages; each was checked on the date shown in its review.

Facts verified on October 28, 2026

Key differences

Only Tiger Brokers lists Hong Kong Exchanges (HKEX), Singapore Exchange (SGX), Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), and Australian Securities Exchange (ASX).
Only Ndovu is licensed by CMA (Kenya), CMA (Rwanda), and CMA (Uganda).
Only Tiger Brokers is licensed by MAS, SFC, SEC, and ASIC.
Only Ndovu supports M-Pesa for deposits and withdrawals.

Criterion	Ndovu	Tiger Brokers On our watch list: check recent regulator actions and withdrawal reports before using it.
Rating	5.0/5 on other platforms 583 ratings	4.6/5 on other platforms 30.2K ratings
Regulators	CMA (Kenya), CMA (Rwanda), CMA (Uganda)	MAS, SFC, SEC, ASIC
Markets	US exchanges (NYSE, Nasdaq)	US exchanges (NYSE, Nasdaq), Hong Kong Exchanges (HKEX), Singapore Exchange (SGX), Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE) +1
Products	stocks, ETFs, fractional shares, funds	stocks, ETFs, fractional shares, bonds, options, funds
US stock or ETF order	4.5% of the order	$0.01 per share, minimum $1.99
Deposits and withdrawals	M-Pesa, Bank transfer	Bank transfer, PayNow, FPS (Faster Payment System)
Available only in	Kenya	—
Founded	2021	2014
Headquarters	Kenya	—
Minimum deposit	—	No minimum
Investor protection	—	SIPC, Investor Compensation Fund (Hong Kong)
	Read review	Read review

Which regulators license Ndovu and Tiger Brokers?

Ndovu is licensed by CMA (Kenya), CMA (Rwanda), and CMA (Uganda); Tiger Brokers by MAS, SFC, SEC, and ASIC.