This moron trades the penny of the penny stock. $0.0001 stock buying 5 millions shares = $5000
Transaction fees is $15000
This Tiger broker is quite dubious. I opened an account with them previously because they offered to give a free US stock (exact counter depends on lucky draw). I got a free stock that was worth ~US$40 and sold it off once the moratorium was lifted. Subsequently made a few trades before finally deciding to cash out everything and close the account as I find the app to be poorly designed and not as user friendly compared to competitors.
To my surprise the US$40 couldn't be cashed out of the brokerage account, it seems like there were a lot fine print conditions that had to be met before the money is truly released. The exact timeline and terms were also not clearly communicated. In the end I couldn't be bothered and closed the account without the US$40, I don't appreciate their sneaky tactics and don't want to have anything to do with them.
IBKR better (interactive broker)??
