This post has been edited by aspartame: Apr 21 2015, 07:57 PM
Singapore REITS, S-REITS
Singapore REITS, S-REITS
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Apr 21 2015, 07:54 PM
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#1
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I have transferred money to a foreign broker in US for credit of my account with them and as far as I understand, any remittance below RM10,000 does not need Bank Negara approval. Now my question is do I need to get approval from Bank Negara if I intend to do a telegraphic transfer to my own bank account in Singapore for investment purpose? I have read up about exchange control but I am quite confused. I read that transfer from resident to resident (my bank account in Singapore) must get Bank Negara approval except if it is for education purpose. Since the purpose of transferring money to my own account in Singapore is ultimately intended for investment purpose, do I need to get approval?
This post has been edited by aspartame: Apr 21 2015, 07:57 PM |
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Jul 19 2015, 10:20 AM
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#2
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May 13 2016, 09:19 PM
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#3
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Wonder if anyone here has experience using HLeBroking to trade SGX shares? If yes, appreciate some feedback on the platform. User friendly?
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May 13 2016, 11:27 PM
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#4
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May 13 2016, 11:56 PM
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#5
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QUOTE(AVFAN @ May 13 2016, 11:47 PM) yes, the hleb foreign platform is diff from bursa, called IRESS. Which do you prefer? What about the conversion rate from RM to SGD? Did you compare which is better? Even though HLeBroking is basic, can it easily accomplish simple buy and sell orders that are done infrequently? And lastly, do you maintain SGD cash balances in their trust accounts? Or do you convert everytime you buy and sell? Thxi am using both cimb and hleb foreign. i will say hleb one is a more basic, not very eye-friendly, the figures are small. but is reliable. cimb one is much prettier, easier to read. note if u want real time data, there are conditions for both - either pay or do certain. no. of transactions per month. This post has been edited by aspartame: May 13 2016, 11:59 PM |
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May 14 2016, 12:36 AM
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#6
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QUOTE(AVFAN @ May 14 2016, 12:06 AM) Which do you prefer? Thanks. The last part regarding auto conversion for CIMB is a very important point for me. Eventhough it only applies to contra trades and not long term hold kind of trades, I prefer a consistent approach. Thanks again for pointing this out. This will rule out CIMB for me. For those who do contra trades, this auto conversion is a hidden cost because of the conversion loss everytime you buy and sell.i have a better relationship with CIMB, so i prefer CIMB. What about the conversion rate from RM to SGD? Did you compare which is better? That, CIMB always better. But brokerage fee, handling fee may not be - this u need to check for details. Even though HLeBroking is basic, can it easily accomplish simply buy and sell orders that are done infrequently? Not a problem. It is reliable. And lastly, do you maintain SGD cash balances in their trust account? Yes, but small amounts only. No interest paid on foreign currency. Or do you convert everytime you buy and sell? This one can get complicated... HLEB is better in this aspect as u auto maintain in same foreign currency whenever u buy or sell. do not assume this is the case with all local banks/brokers. due to some internal procedure/policies, it can be different. cimb, for example, treats every transaction in RM, the buy/sell rates of transaction date(s). u must tell them before hand u want to keep trading profits in same foreign currency, failing which they will auto convert to RM. but that only applies to contra trades, not paid up stocks. so if not trading, not an issue. |
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Apr 5 2017, 10:23 PM
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#7
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Apr 13 2017, 10:26 PM
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#8
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Feb 4 2019, 01:09 PM
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#9
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Feb 4 2019, 02:30 PM
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#10
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QUOTE(elea88 @ Feb 4 2019, 02:27 PM) yes open all from Singapore. Why so many? Lol... which ones r u using now?Started with Dbs. with DBS VICKERS then later change to POSB. then Maybank (open from Msia) then cimb sg. open online then OCBC. then STd chart... for US and ASX shares.. you can even do it on a day trip.... |
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Feb 4 2019, 02:31 PM
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#11
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QUOTE(Havoc Knightmare @ Feb 4 2019, 02:07 PM) No, it's tax free for Standard Chartered. I get exactly all the dividends that is declared, except 1-2 days delay in payment. Seems like Standard Chartered sits on the cash for that period. Aside from that, I have no complaints about Standard Chartered. Ok, thx. |
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Feb 5 2019, 01:42 AM
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#12
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QUOTE(elea88 @ Feb 4 2019, 05:47 PM) yes using MKE Prefunded. if u want can refer u to my dealer. service so far is good. i think most of us here using the same guy What do you mean by prefunded? Meaning it is a cash account? That means no buying unless cash has been deposited? How much is the commission? Thxas i got his contact from here too... and contactable via whatsapp. 24/7 |
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Jul 23 2019, 08:25 AM
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#13
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QUOTE(Ramjade @ Jul 22 2019, 08:07 PM) 1% of dividends and 0.0025% charges per annum do not seem exorbitant right? Fees are expected as long as reasonable. SGD20 rights handling is slightly higher than normal SGD10 but still it’s not really that bad lah...just my 2 cents |
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Jul 23 2019, 08:53 AM
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#14
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QUOTE(Ramjade @ Jul 23 2019, 08:50 AM) I am a believer of free for life. Why pay when there are others not charging you? Whatever you pay is not going to come back to you. If is your family, OK la to pay to support them. Are they your family? Bro, man up please, small charges make u run around like a headless chicken.. how to make big money?Sorry but I believe in minimise leakage and maximise my money working for me. Such fees are leakage. |
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Jul 24 2019, 01:48 PM
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QUOTE(Ramjade @ Jul 24 2019, 12:19 AM) You can open account even if you are a Malaysian. Everything all online. FSM is it referring to Fundsupermart Malaysia? Can link to CDP Singapore????Tradestation global. Remember to link FSM to CDP so you can sell via FSM which cost only SGD10. If you want to sell using DBS need to go via their DBS V page which cost SGD25. I don't trade but l like to keep my cost as low as possible. Cost is something within one's control. Correction so far only maybank, poems, uob, Cimb, ocbc, lim and tan charges that fee. FSM not yet and their customer service told me yesterday that they are not charging that fees. Standard chartered memang no charge. Not sure if they change. No account with them so can't comment. Everything with interactive broker is nominee but funny part is can vote online. Can IPO online. Have not test it yet. |
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Jul 24 2019, 01:51 PM
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#16
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QUOTE(Ramjade @ Jul 22 2019, 10:47 PM) Thinking either FSM or IB. IB at least peace of mind they won't do such U got Interactive Brokers or Tradestatiin?FSM matter of time before they follow. - So far they confirm no such fees. But in the future? - They don't absorb the fees IB - Also no fees from them since like Dinosaur age already. - Have not asked them if they can absorbed the transfer out fees. I think 21 days notice applies only to Malaysian financial institutions. Not Singapore companies. I got IB, so don't see why should go with FSM. |
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Jul 24 2019, 02:23 PM
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#17
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QUOTE(Ramjade @ Jul 24 2019, 02:06 PM) Fundsupermart SG. Different account with Malaysian version. Need to open new account in Singapore. Malaysian one is use in Malaysia. Cannot use in Singapore. If buy stocks using FS Sg... if got corporate action like rights.. they can act on behalf ? Dun think so right cos it is CDPTradestation global. Different with Tradestation. Tradestation global is using interactive broker. You login all using interactive broker. Any issue you deal directly with Interacrive broker. |
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Jul 24 2019, 06:41 PM
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#18
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QUOTE(Ramjade @ Jul 24 2019, 06:08 PM) Zero. It seems Tradestation Global has a USD10 monthly inactivity fees?Should be possible. But don't know the process. Only opened an account with them but never use as planned for using that to buy HK stock but never use as IB (Tradestation G) is superior in every way. Yup. I know. Looks like panic decision by management. Saw some Singaporean talking about it. |
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Jul 24 2019, 10:19 PM
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QUOTE(Ramjade @ Jul 24 2019, 09:52 PM) No already confirmed with them numerous time no inactivity fee. That's the reason you go for whitelabels of IB. To avoid the USD10/month fee. TradestationIf they want to charge, might as well I go for pure IB. Is there a minimum level of trading activity required? No, however we reserve the right to review inactive accounts on a regular basis, contact clients and take any appropriate action I don’t think they are happy if u do that over long period of time...nothing is free This post has been edited by aspartame: Jul 24 2019, 10:20 PM |
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Jul 26 2019, 06:45 AM
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#20
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QUOTE(Hansel @ Jul 25 2019, 10:56 AM) I read all the above discussions with interest. Among some 'concerns' are :- 1) possibility of paying for inactivity fees in future. 2) Tradestation charging USD3 to USD3 per transaction. 3) FAST transfer-in would only show funds a few hrs after transfer. 4) Withdrawal of funds is free for 1x per mth, after that must pay for withdrawal.... Wouldn't opening two brokerage accts in SG be more EFFICIENT in a broader sense ? I'm referring to mass mkt here, not Treasures or Premier accts,... 1) For buying : use DBS/DBSV - 0.(something)% and minimum $10. Nowadays got rebates some more. 2) For selling : use FSM - 0.08% and minimum $10. QUOTE(Hansel @ Jul 25 2019, 03:15 PM) Yeah,... I have said this before,... it's good to open as many accounts as possible,.. we don't know what will happen to the accts we are holding,.... Maybe not to the extent of opening as many as possible. I like to keep it to max of 2 or 3. Too many will be hard to review performance, confusing etc. Too few and we don't know if we have been skimmed... QUOTE(Ramjade @ Jul 25 2019, 04:41 PM) SG brokerage got no access to US, UK, Canada market for cheap and free of pesky maintenance and dividend fee. They want to charge me all kind of fees and higher charges, so no thank you. I am taking my money elsewhere where is worth more. Is nothing personal. Is just business. May the best broker win. The cheapest broker may not be the best broker. The most expensive also unlikely to be the best broker. I like to take the middle ground. Charges are acceptable as long as reasonable. There is no free lunch. |
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