For more on position trading, swing trading, and daytrading (contra) for US market, you guys can pm me for my msn. I have 10 years of experience in trading and will not mind to share my views and opinions.

Interesting Topic....

We have all talk about how much is it to trade & how to start trading.
However, how much does it cost to get the money out & how to do it?

Let's take a Scenario for discussion

I transfer USD 1,000 in an account under a US online trading company (etrade, americatrade, etc..)
Fast-forward 2 years... got lucky and made USD 2,000
I would now like to get my USD 2,000 back into RM in my local bank.

Any hidden cost? Transfer cost?...
Is there any option to transfer the money back from US account to Msia Bank?


Side question... anybody knows if we can invest Options in Msia?

Thanks!

Hey guys,

Im keen to go for regional stocks, so was considering POEMS. Anyone using POEMS here? Mind sharing whats your take on POEMS and any other alternatives?

Thanks in advance

I am looking to go to others regions share market ..

Targeting AIG - 1.20 , CITIGROUP 2.30 and GENTING INT (Singpore) 0.30

Will that be a bit low ?

Hi,

May i know how you wire transfer your money to a broker firm. Our local bank offer direct transfer money to beneficiary without an intermediary bank.

All broker firm in US needs foreign investor to wire transfer money to a US bank (intermediary bank) which hold the broker firm account. When the broker receive the money then they will fund your money into your account

One of my friend just opened a trading a/c with OSK for regional trading, he told me brokerage fees is minimum USD$30

Citigroup is now about $1, market cap is even cheaper than our PBB & Maybank...for long term investment, this should be a fairy good buy IMHO...

Futura,

<< Citigroup is now about $1, market cap is even cheaper than our PBB & Maybank...for long term investment, this should be a fairy good buy IMHO...>>

Who say so?? There is a strong likelihood that Citigroup will be nationalized. In that case, the share price will go down to almost zero.

Dreamer

Agreed, the only reason anyone would buy into Citi would be to speculate on short term developments like news causing spikes in the share price. No investor in their right mind would be touching Citi with even a 10 foot long pole at the moment.

On Thursday, the House Financial Services holds a hearing on mark-to-market accounting, blamed by some for sinking the banking sector. An alteration of the rule would have a big upside impact on banking stocks.

Check this out., http://www.cnbc.com/id/29549920

Can take a look at NYSE:FAS if u r interested in US stock.

alivecmh,

Come on. If a bank is only worth $1 and you adjust the accounting rule to let it reports that it is worth $5, how does THIS makes any different?? In fact, it will make it worse!!!

As an investor, I want a TRUE PICTURE of what a bank worth before investing. A blurrier picture just make me stop investing TOTALLY.

Let's have some common sense thinking here. People have LOST TRUST on accounting for banks. To earn trust back, you need TOUGHER accounting rule. Not a looser rule.

Dreamer

Hi,

May i know how you guys fund your account ? Investing through an online broker firm (non local broker firm), such as Ameritarde, OptionXpress and etc...As a foreign investor to them, how do you guys fund your account? Wire transfer?

This questions have been asked many times.. and answered too.

Yes, just Wire Transfer (TT) or mail a Bank Draft (cheque) to your new account that you've opened with them.

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Added on March 9, 2009, 9:51 am

Sure... they are dirt cheap..

Psst.. look at AIG, world biggest insurance and finance corp. It is only 35 cents..(RM1.30) per share. Wanna buy some?

This post has been edited by danmooncake: Mar 9 2009, 09:51 AM

Hi Danmooncake,

I ask my local bank to do wire transfer but it turns out that the wire transfer cannot be done due to US intermediary bank.

Money-->US bank-->broker firm--> your account (in the broker firm)

My bank assume it is a direct transfer from 1 account to the other without going through an intermediary bank in between.

Money--->Broker firm-->your account

What do you tell the bank? I told them the information require such as 2 account number , swift code and bank address. It turns out that they need only 1 account number which make thing weird.

Can't you make a direct wire to the brokerage firm? If you have your account number + swift code of your brokerage account, it should be able to get wired in immediately, no?

Hi elhh82,

As far as i am concerned, there is no direct wire transfer. The money has to go to US bank which hold the broker firm account. After the bank transfer money to the broker firm and from there the broker firm fund the money into your account.

find a new brokerage firm?

Hi elhh82,

Which broker firm did you go to? If i am not mistaken, almost all US broker firm require foreign investor to go through this intermediary bank.

i don't actually have a US brokerage account only a bank account.

don't you have access to your bank account via online banking? You can then make a transfer to your broker through it.

elhh82,

If it is that easy i would not have ask the question. I think you don't understand the situation. Is US that you are talking about and not some local investment bank.