Welcome Guest ( Log In | Register )

112 Pages « < 4 5 6 7 8 > » Bottom

Outline · [ Standard ] · Linear+

 All about ETFs / Foreign Brokers, Exchange traded funds

views
     
ferox
post Apr 21 2015, 07:50 AM

Casual
***
Junior Member
329 posts

Joined: Feb 2005
From: Kuala Lumpur


QUOTE(rjb123 @ Apr 20 2015, 02:04 PM)
I think $1250 per quarter may be a bit cost prohibitive in both instances considering the roughly $50 transfer fees.

I don't follow your logic of additional ER of 0.3% though? I'll do a spreadsheet and report back shortly  biggrin.gif
*
Yes, you need to transfer $5000 just to get costs down to 1%. $10000 seems a better minimum to aim for. (Plus IB needs that minimum anyway)

0.3% numbers plugged from here Nonresident alien with no US tax treaty & Irish ETFs
For quick reference:
QUOTE
Including the funds expense ratios: VOO's total cost is 0.64%, while VUSA's total cost is 0.37% for a no-tax-treaty NRA.
Including the funds expense ratios: VT's total cost is 0.76%, while VWRL's total cost is 0.46% for a no-tax-treaty NRA.
This doesn't take into account the slightly higher trading commissions on the LSE.

This post has been edited by ferox: Apr 21 2015, 08:01 AM
SUSMNet
post Apr 21 2015, 08:09 AM

10k Club
********
All Stars
11,954 posts

Joined: May 2007



QUOTE(rjb123 @ Apr 21 2015, 01:00 AM)
Npt yet, busy day. I should have time to do it today smile.gif
*
why u so busy bro?

i thought ur work is easy...
TSrjb123
post Apr 21 2015, 01:05 PM

Regular
******
Senior Member
1,811 posts

Joined: May 2010
From: Kuala Lumpur


QUOTE(ferox @ Apr 21 2015, 07:50 AM)
Yes, you need to transfer $5000 just to get costs down to 1%. $10000 seems a better minimum to aim for. (Plus IB needs that minimum anyway)

0.3% numbers plugged from here Nonresident alien with no US tax treaty & Irish ETFs
For quick reference:
This doesn't take into account the slightly higher trading commissions on the LSE.
*
Yup, personally I wouldn't do any funding less than $10k so the fees aren't top much of a large percentage of the overall funding. I don't mind having extra cash sitting in IB account - Maybank doesn't pay any interest on USD FCA anyway.

I'll have a look at doing a spreadsheet shortly, the link doesn't account for :

1. DRIPS (automatically reinvested dividends without fees)
2. Higher trading costs on LSE
3. Larger spreads on LSE as the ETFs are less liquid than their US counterparts

Hopefully I don't screw this up, my spreadsheet skills are a bit rusty biggrin.gif

QUOTE(MNet @ Apr 21 2015, 08:09 AM)
why u so busy bro?

i thought ur work is easy...
*
Says who? tongue.gif been very busy last few months sad.gif

AVFAN
post Apr 24 2015, 02:09 PM

20k VIP Club
*********
All Stars
24,037 posts

Joined: Nov 2010
QUOTE(MNet @ Apr 7 2015, 08:54 AM)
QUOTE(rjb123 @ Apr 7 2015, 09:00 AM)
10 USD monthly is referring to inactivity fee, if you're not doing any trades during a month and have less than 100,000 USD balance.

TD Ameritrade has many commission free ETFs and supports DRIPS, so if you're only buying US ETFs infrequently and want dividends reinvested TD is a better option.
*
hi guys,

i am planning to open an account with IB for us equities trading purposes. so far, i read from the website:

.. initial deposit usd10k
.. usd1 per trade
.. usd10 min per month if no trades

before i go further, i thought will be good if you guys can point me in the most straightforward direction to get going. can you assist:

.. malaysian resident, with rm in local bank

.. open account online? any documents required?
.. how do i transfer money in/out of IB account with my local bank - ibg, 3rd party?
.. does each transfer require notification any body, e.g. bnm?
.. from where is exchange rate determined at any day or time?
.. how long from registration to acc active?
.. trading - is it always usd1 per buy or sell, any contra period (no payment used)?
.. how many days for gain/loss to become due?
.. any leverage? or zero, i.e. can buy only up to what is in cash deposit?
.. what is minimum shares buy/sell allowed - as per counter boardlot size?

thanks.

This post has been edited by AVFAN: Apr 24 2015, 03:05 PM
TSrjb123
post Apr 24 2015, 04:53 PM

Regular
******
Senior Member
1,811 posts

Joined: May 2010
From: Kuala Lumpur


.. initial deposit usd10k Yup, $10K Initial deposit to open account
.. usd1 per trade $0.005 per share, $1 minimum for US Markets. Other exchanges have other fees
.. usd10 min per month if no trades Yup, $10 inactivity fee if account under $100K, monthly commissions get offset, first 3 months inactivity fee is waived

before i go further, i thought will be good if you guys can point me in the most straightforward direction to get going. can you assist:

.. malaysian resident, with rm in local bank

.. open account online? any documents required? All online, scan of passport, utility bill to prove address etc
.. how do i transfer money in/out of IB account with my local bank - ibg, 3rd party? TT from Malaysian bank, takes 24 hours to complete (MaybanK)
.. does each transfer require notification any body, e.g. bnm? Not that I'm aware , have never been asked to give additional information
.. from where is exchange rate determined at any day or time? Determined by your bank's day rate when doing TT
.. how long from registration to acc active? Can't remember - think it was around a week
.. trading - is it always usd1 per buy or sell, any contra period (no payment used)?1 USD or $0.005 per share for US markets, different for others - full fee structure for different markets available https://www.interactivebrokers.com/en/index...ssion&p=stocks1
.. how many days for gain/loss to become due? Amount becomes available in cash balance immediately
.. any leverage? or zero, i.e. can buy only up to what is in cash deposit? Info on Margins : https://www.interactivebrokers.com/en/?f=margin
.. what is minimum shares buy/sell allowed - as per counter boardlot size?No minimums that I'm aware of

This post has been edited by rjb123: Apr 24 2015, 04:55 PM
AVFAN
post Apr 24 2015, 05:49 PM

20k VIP Club
*********
All Stars
24,037 posts

Joined: Nov 2010
QUOTE(rjb123 @ Apr 24 2015, 04:53 PM)
.. initial deposit usd10k Yup, $10K Initial deposit to open account
.. usd1 per trade $0.005 per share, $1 minimum for US Markets. Other exchanges have other fees
.. usd10 min per month if no trades Yup, $10 inactivity fee if account under $100K, monthly commissions get offset, first 3 months inactivity fee is waived

before i go further, i thought will be good if you guys can point me in the most straightforward direction to get going. can you assist:

.. malaysian resident, with rm in local bank

.. open account online? any documents required? All online, scan of passport, utility bill to prove address etc
.. how do i transfer money in/out of IB account with my local bank - ibg, 3rd party? TT from Malaysian bank, takes 24 hours to complete (MaybanK)
.. does each transfer require notification any body, e.g. bnm? Not that I'm aware , have never been asked to give additional information
.. from where is exchange rate determined at any day or time? Determined by your bank's day rate when doing TT
.. how long from registration to acc active? Can't remember - think it was around a week
.. trading - is it always usd1 per buy or sell, any contra period (no payment used)?1 USD or $0.005 per share for US markets, different for others - full fee structure for different markets available https://www.interactivebrokers.com/en/index...ssion&p=stocks1
.. how many days for gain/loss to become due? Amount becomes available in cash balance immediately
.. any leverage? or zero, i.e. can buy only up to what is in cash deposit? Info on Margins : https://www.interactivebrokers.com/en/?f=margin
.. what is minimum shares buy/sell allowed - as per counter boardlot size?No minimums that I'm aware of
*
thanks much, appr it.

will get going soon! biggrin.gif
AVFAN
post Apr 25 2015, 11:39 AM

20k VIP Club
*********
All Stars
24,037 posts

Joined: Nov 2010
QUOTE(rjb123 @ Apr 24 2015, 04:53 PM)
.. how do i transfer money in/out of IB account with my local bank - ibg, 3rd party? TT from Malaysian bank, takes 24 hours to complete (MaybanK)
.. from where is exchange rate determined at any day or time? Determined by your bank's day rate when doing TT
*
about this...

if i want to move funds out of IB back to my local bank acc, is that easy enough? takes about 24 hrs too? need some swift no., right?

the exchange rate should then be determined by IB's bank, right? usually standard?

thanks again.
SUSMNet
post Apr 25 2015, 11:51 AM

10k Club
********
All Stars
11,954 posts

Joined: May 2007



QUOTE(AVFAN @ Apr 25 2015, 11:39 AM)
about this...

if i want to move funds out of IB back to my local bank acc, is that easy enough? takes about 24 hrs too? need some swift no., right?

the exchange rate should then be determined by IB's bank, right? usually standard?

thanks again.
*
yes u r right
TSrjb123
post Apr 25 2015, 01:41 PM

Regular
******
Senior Member
1,811 posts

Joined: May 2010
From: Kuala Lumpur


QUOTE(AVFAN @ Apr 25 2015, 11:39 AM)
about this...if i want to move funds out of IB back to my local bank acc, is that easy enough? takes about 24 hrs too? need some swift no., right?

the exchange rate should then be determined by IB's bank, right? usually standard?

thanks again.
*
QUOTE(MNet @ Apr 25 2015, 11:51 AM)
yes u r right
*
The exchange rate will be determined by receiving bank, you can't send funds as MYR from IB.

I use USD account with Maybank to avoid any exchange rate issues.

If you have accounts elsewhere you can fund and withdraw in SGD, EUR, GBP etc also. Rate for changing between currencies will be far better inside IB than through any bank.

SUSMNet
post Apr 25 2015, 01:54 PM

10k Club
********
All Stars
11,954 posts

Joined: May 2007



QUOTE(rjb123 @ Apr 25 2015, 01:41 PM)
The exchange rate will be determined by receiving bank, you can't send funds as MYR from IB.

I use USD account with Maybank to avoid any exchange rate issues.

If you have accounts elsewhere you can fund and withdraw in SGD, EUR, GBP etc also. Rate for changing between currencies will be far better inside IB than through any bank.
*
IB have USD/MYR conversion?


TSrjb123
post Apr 25 2015, 02:03 PM

Regular
******
Senior Member
1,811 posts

Joined: May 2010
From: Kuala Lumpur


QUOTE(MNet @ Apr 25 2015, 01:54 PM)
IB have USD/MYR conversion?
*
Since when?

You can't deposit or withdraw in MYR afaik
SUSMNet
post Apr 25 2015, 02:51 PM

10k Club
********
All Stars
11,954 posts

Joined: May 2007



QUOTE(rjb123 @ Apr 25 2015, 02:03 PM)
Since when?

You can't deposit or withdraw in MYR afaik
*
I mean convert.

From IB, u need to convert to EU if you wan buy EU stock
TSrjb123
post Apr 25 2015, 03:07 PM

Regular
******
Senior Member
1,811 posts

Joined: May 2010
From: Kuala Lumpur


QUOTE(MNet @ Apr 25 2015, 02:51 PM)
I mean convert.

From IB, u need to convert to EU if you wan  buy EU stock
*
Yes, for buying in EUR/GBP etc. you can either deposit those currencies directly or convert (I've deposited both EUR and GBP before, no problems)

If you don't convert they do let you purchase on margin and corresponding balance goes negative.
denver1347
post Apr 25 2015, 03:19 PM

Getting Started
**
Junior Member
214 posts

Joined: Apr 2006


For the intraday trader in Stocks, Stock and Index Options, Warrants, T-Bills, Bonds, or Single Stock Futures please take note on this limitation implement by FINRA.


https://www.interactivebrokers.com/en/?f=margin&p=daytrade
AVFAN
post Apr 25 2015, 05:11 PM

20k VIP Club
*********
All Stars
24,037 posts

Joined: Nov 2010
QUOTE(rjb123 @ Apr 25 2015, 01:41 PM)
The exchange rate will be determined by receiving bank, you can't send funds as MYR from IB.
*
i think this means IB will take instructions to TT the amt requested in USD. The local bank will then convert to RM at prevailing rate on that day.

QUOTE(denver1347 @ Apr 25 2015, 03:19 PM)
For the intraday trader in Stocks, Stock and Index Options, Warrants, T-Bills, Bonds, or Single Stock Futures please take note on this limitation implement by FINRA.
https://www.interactivebrokers.com/en/?f=margin&p=daytrade
*
hmm... that means for frequent intraday trading, will need >usd25k as deposit.

once or max twice a week, 10k shuld be ok, i suppose...?

This post has been edited by AVFAN: Apr 25 2015, 05:12 PM
TSrjb123
post Apr 25 2015, 05:49 PM

Regular
******
Senior Member
1,811 posts

Joined: May 2010
From: Kuala Lumpur


QUOTE(AVFAN @ Apr 25 2015, 05:11 PM)
i think this means IB will take instructions to TT the amt requested in USD. The local bank will then convert to RM at prevailing rate on that day.
hmm... that means for frequent intraday trading, will need >usd25k as deposit.


once or max twice a week, 10k shuld be ok, i suppose...?
*
Correct, or you can open USD account with Maybank or whoever you use, then convert between RM when you want smile.gif

If you're only doing a few transactions a week you won't fall under PDT and won't require the $25K minimum smile.gif

Anyway that's a US rule, not broker specific. Others like TD Ameritrade would also require the same.
AVFAN
post Apr 25 2015, 08:47 PM

20k VIP Club
*********
All Stars
24,037 posts

Joined: Nov 2010
QUOTE(rjb123 @ Apr 25 2015, 05:49 PM)
Correct, or you can open USD account with Maybank or whoever you use, then convert between RM when you want smile.gif

If you're only doing a few transactions a week you won't fall under PDT and won't require the $25K minimum smile.gif

Anyway that's a US rule, not broker specific. Others like TD Ameritrade would also require the same.
*
thanks.

alright, that's assuring hearing from you.

10k it is! biggrin.gif
SUSMNet
post Apr 25 2015, 09:53 PM

10k Club
********
All Stars
11,954 posts

Joined: May 2007



QUOTE(AVFAN @ Apr 25 2015, 08:47 PM)
thanks.

alright, that's assuring hearing from you.

10k it is! biggrin.gif
*
when u wanted to convert to USD?
TSrjb123
post Apr 25 2015, 10:44 PM

Regular
******
Senior Member
1,811 posts

Joined: May 2010
From: Kuala Lumpur


Good time to change ... I need to change in the other direction soon - should have done it earlier doh.gif
AVFAN
post Apr 25 2015, 11:25 PM

20k VIP Club
*********
All Stars
24,037 posts

Joined: Nov 2010
QUOTE(MNet @ Apr 25 2015, 09:53 PM)
when u wanted to convert to USD?
*
i haven't even opened the acc!

112 Pages « < 4 5 6 7 8 > » Top
 

Change to:
| Lo-Fi Version
0.0176sec    0.22    6 queries    GZIP Disabled
Time is now: 28th March 2024 - 10:27 PM