mainly bcos quite a lot of us here are IBKR users. cheaper to deposit, easier to withdraw

other various reason (some don't want to hold MYR)

I see. IBKR international account can be deposited by SGD? I thought only USD.

GalaxyV many other currencies also. sending USD direct using wise is not cheap these days (USD1.19 per deposit), so if u only want to use wise, u can avoid that $1.19 by converting to EUR and sending that to IBKR

I'm trying to transfer small amount for the 1st time using Money Match registered and verified today.

Tried from 2 source banks, status said Unsuccessful, debit status 'No status received from FPX yet'

What could be the problem?

Edit: only the 3rd bank managed to get through... and it's not immediately apparent the transfer will be successful...have to wait for the notification.

This post has been edited by tropik: Jun 18 2025, 12:31 PM

Park sgd? Sgd is stronger?

Cheaper to deposit rather than deposit USD straight into IBKR.

Also give you a bank account to hold SGD. Wise can only hold RM29k which is peanut.

Having a SG bank account really makes your money without border unlike restrictions on Malaysia

Also lastly the SGD will appreciate with time especially against the RM.

Depositing to IBKR and withdraw IBKR from our Singapore bank account will lead to the closure the bank account like in mileysia?

Nope. Been there down that and less questions or paper work to fill up with Singapore bank when you deposit SGD or withdraw SGD to your account.

There won't be closure in Malaysia as long as you can prove your money. Where it is coming from.

But the IBKR account I have is with international account. So it applies too?

IBKR let you fund your account in SGD. You can withdraw also in SGD. There is no such option for ringgit.

IBKR SG is for Singaporeans only. Everyone get IBKR US unless you are in UK, Europe, Australia, Canada

My previous deposit was in USD. Can I then withdraw my USD to SGD to my Singapore bank account?

got it



This post has been edited by GalaxyV: Jun 20 2025, 02:40 PM

GalaxyV USD->SGD conversion fee inside IBKR is $2 per $100k

2 months ago i withdraw RM500 straightaway withdraw to wise. as wise USD->MYR conversion fee for USD1xx is <$2

This post has been edited by Medufsaid: Jun 20 2025, 02:50 PM

I have another option here :-

I have DBS Multi-Currency Acct and Tiger Brokers acct..

I can move funds, USD & SGD in and out betw my DBS MCA and TB acct. for FREE.

I use DBS MCA to convert my funds betw USD & SGD at close to interbank rates.

I am now waiting for counter-reprisals to my statements above, especially the last statement,...

You can always withdraw SGD to a SG bank account. But if you withdraw USD to a pure SGD account the USD will be converted into SGD at bank rate which is not cheap and not ideal unless you have a multi currency account.


Since Malaysia does not really have a multi currency account, everytime you withdraw money back to Malaysia (which you should not be doing), banks take a chunk of it like 3% and auto convert it to ringgit.

That's why I open SG bank account so there is no auto conversion.

Bro not everyone have DBS and not everyone can open DBS and DBS charges for incoming wire feess something which Cimb sg does not.

The closest Malaysian can get without crossing the border is RHB multi currency account.

This post has been edited by Ramjade: Jun 20 2025, 03:06 PM

wise actually outperform DBS MCA. as IBKR outperforms Wise, it'll be IBKR>Wise>DBS. of course you cannot directly use IBKR as a money changer outright. u have to use the money to invest first

This post has been edited by Medufsaid: Jun 20 2025, 03:08 PM

Emm,... bro,.. perhaps not everybody has this,.. I use DBS Private - better rate than normal DBS MCA forex rate by a lot.

I'm just quoting my experiences,...

so it's a good thing u finally explain what you really have else you'll create misinformation

I'm laughing at your statement above, in bold,....

Only you kena this,...

Bro, be more down to earth. Normal people will kena. Priority customer, private customer won't kena. Like I said I am not priority or private customer so I will kena. So what works for you won't work for me as we are on different level. I am just poor fag and lots of people are normal customer. So your special privilege is not applicable to us. We common people got no specilai privilege form banks.

I know one thing. You are happy to let banks earn the Forex spread. I am not and banks will never earn any Forex spread from me. If they earn also, it will be the bare minimum.

This post has been edited by Ramjade: Jun 20 2025, 03:55 PM

hard to say. he says he's on DBS private so need to compare that exchange spread against wise (or IBKR)