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 All about ETFs / Foreign Brokers, Exchange traded funds

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elea88
post Mar 27 2019, 05:20 PM

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QUOTE(hyperzz @ Mar 26 2019, 10:55 PM)
Just to add more explanation.

elea88, I assume you need HKD for HKEX. IB does not have the pair SGD.HKD. So you need to convert twice, SGD -> USD -> HKD. You can follow the suggestion by rjb123 for SGD -> USD (meaning to BUY the pair USD.SGD).
Then you need to SELL the pair USD.HKD to get your HKD.

Some basic concept about forex trading. For a currency pair, i.e USD.SGD, the first currency (USD) is the base currency, the second currency (SGD) is the quote currency. 
Assumed 1 USD = 1.3514 SGD.
When you :

1) buy 10,000 USD.SGD, you will get 10,000 USD. For this BUY, 13,514 SGD will be deducted from your IB account. The commission charged is 2 USD. Buying a currency pair will give you the base/first currency.

2) sell 10,000 USD.SGD, you will get 13,514 SGD. For this SELL, 10,000 USD will be deducted from your IB account. The commission charged is 2 USD. Selling a currency pair will give you the quote/second currency.

IB has a youtube channel with tutorials, i.e. Forex with WebTrader 

Hope this helps.
*
the commission 2 USD is for any amount of forex exchange?

also.. you guys would choose TIER pricing or FIXED pricing?

Fixed rate plan typically charges a fixed rate per contract or share which covers all commissions and exchange fees.

Tiered price plan charges the fees based on the monthly trading volume. Plus additionally exchange, regulatory and clearing fees. The more you trade, the lower commission you pay.


Ramjade
post Mar 27 2019, 05:31 PM

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QUOTE(elea88 @ Mar 27 2019, 05:20 PM)
the commission 2 USD is for any amount of forex exchange?

also.. you guys would choose TIER pricing or FIXED pricing?

Fixed rate plan typically charges a fixed rate per contract or share which covers all commissions and exchange fees.

Tiered price plan charges the fees based on the monthly trading volume. Plus additionally exchange, regulatory and clearing fees. The more you trade, the lower commission you pay.
*
TIER. According to one blog post. TIER can save more.
https://thepoorswiss.com/comparison-brokers...brokers-tiered/

Is your IB pure IB or white label of IB?
hyperzz
post Mar 27 2019, 06:36 PM

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QUOTE(elea88 @ Mar 27 2019, 05:20 PM)
the commission 2 USD is for any amount of forex exchange?

also.. you guys would choose TIER pricing or FIXED pricing?

Fixed rate plan typically charges a fixed rate per contract or share which covers all commissions and exchange fees.

Tiered price plan charges the fees based on the monthly trading volume. Plus additionally exchange, regulatory and clearing fees. The more you trade, the lower commission you pay.
*
If you trade forex for more than US$ 1 M in a month, the commission is less than $2/transaction for the rest of that month.

IB offers the option FIXED or TIER. The white labels only offer FIXED plan as they want to earn the difference in pricing.

I would suggest TIER plan regardless of your trading volume.

This post has been edited by hyperzz: Mar 27 2019, 06:39 PM


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Ramjade
post Mar 27 2019, 07:09 PM

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QUOTE(hyperzz @ Mar 27 2019, 06:36 PM)
If you trade forex for more than US$ 1 M in a month, the commission is less than $2/transaction for the rest of that month.

IB offers the option FIXED or TIER. The white labels only offer FIXED plan as they want to earn the difference in pricing.

I would suggest TIER plan regardless of your trading volume.
*
According to Tradestation FAQ, one can use IB with the username and password when sign up via Tradestation. Which means theoretically I can use the TIER pricing also right?
hyperzz
post Mar 27 2019, 07:34 PM

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QUOTE(Ramjade @ Mar 27 2019, 07:09 PM)
According to Tradestation FAQ,  one can use IB with the username and password when sign up via Tradestation. Which means theoretically I can use the TIER pricing also right?
*
I have not been through this process but this is what I think will happen.
When you sign up with Tradestation with an IB account, you are basically transferring the whole account from IB to tradestation. The old account with IB will be closed. You will get a new account number with Tradestation. This account is subject to Tradstation's FIXED pricing plan.
Ramjade
post Mar 27 2019, 07:51 PM

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QUOTE(hyperzz @ Mar 27 2019, 07:34 PM)
I have not been through this process but this is what I think will happen.
When you sign up with Tradestation with an IB account, you are basically transferring the whole account from IB to tradestation. The old account with IB will be closed. You will get a new account number with Tradestation. This account is subject to Tradstation's FIXED pricing plan.
*
Actually what I meant is sign up via tradestation without a IB account prior to signing up.
hyperzz
post Mar 27 2019, 08:06 PM

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QUOTE(Ramjade @ Mar 27 2019, 07:51 PM)
Actually what I meant is sign up via tradestation without a IB account prior to signing up.
*
Yes, you can use your tradestation username and password to log in to IB's account management, webtrader, TWS or mobile app.
However, your account still follows the white label's FIXED pricing plan. The only way to get the TIER pricing is to sign up with IB directly.
Ramjade
post Mar 27 2019, 08:14 PM

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QUOTE(hyperzz @ Mar 27 2019, 08:06 PM)
Yes, you can use your tradestation username and password to log in to IB's account management, webtrader, TWS or mobile app.
However, your account still follows the white label's FIXED pricing plan. The only way to get the TIER pricing is to sign up with IB directly.
*
Damn I don't have USD100k. sad.gif
elea88
post Mar 27 2019, 08:53 PM

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QUOTE(Ramjade @ Mar 27 2019, 05:31 PM)
TIER. According to one blog post. TIER can save more.
https://thepoorswiss.com/comparison-brokers...brokers-tiered/

Is your IB pure IB or white label of IB?
*
dunno. i register with INTERACTIVE BROKERS.

white label means what?
elea88
post Mar 27 2019, 08:55 PM

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QUOTE(Ramjade @ Mar 27 2019, 08:14 PM)
Damn I don't have USD100k. sad.gif
*
why need USD100K for?

Minimum deposit
Interactive Brokers minimum deposit is not the same for the different account types.

In 2018 the minimum deposit was lowered from $10,000 to $0.

$2,000 is still needed if you open a margin account. Margin account means that you trade with borrowed money, also known as leverage.
Ramjade
post Mar 27 2019, 09:04 PM

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QUOTE(elea88 @ Mar 27 2019, 08:53 PM)
dunno. i register with INTERACTIVE BROKERS.

white label means what?
*
White label means another company using IB platform but under their own brand name. Pay a small sum to IB (recurring income to IB).


QUOTE(elea88 @ Mar 27 2019, 08:55 PM)
why need USD100K for?

Minimum deposit
Interactive Brokers minimum deposit is not the same for the different account types.

In 2018 the minimum deposit was lowered from $10,000 to $0.

$2,000 is still needed if you open a margin account. Margin account means that you trade with borrowed money, also known as leverage.
*
USD100k so that won't kena charge USD10/month. No USD100k, kena charge USD10/month. USD10/month - commssion from buyiing/selling = how much need to pay in a month.
The USD100k condition and monthly USD10/month is what keeping me from opening an account with them. That's why looking for white labels which don't need to have USD100k.

This post has been edited by Ramjade: Mar 27 2019, 09:05 PM
markedestiny
post Mar 28 2019, 10:55 AM

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QUOTE(hyperzz @ Feb 19 2019, 03:52 PM)
wt_vinci has experience with Instarem -> Captrader.

Another way is to open a SG bank account (Maybank/CIMB is the easiest way):

Instarem (SGD)-> SG bank -> Captrader (free transfer via FAST).

However, Captrader only supports SWIFT for SGD withdrawal which will incur S$10 charges by the bank (Inward TT charges).
The SWIFT transfer is free once a month.
*
I am looking into funding my Captrader.

Is it really free via FAST and how do I go about it? This means I am sending SGD to Captrader and once received, I can convert into USD or Euro?
hyperzz
post Mar 28 2019, 01:53 PM

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QUOTE(markedestiny @ Mar 28 2019, 10:55 AM)
I am looking into funding my Captrader. 

Is it really free via FAST and how do I go about it?  This means I am sending SGD  to Captrader and once received, I can convert into USD or Euro?
*
FAST is like the instant transfer in MY. Do you have a bank account in SG?

Once the fund is in Captrader, you can buy USD.SGD or EUR.SGD for the conversion.
markedestiny
post Mar 28 2019, 02:02 PM

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QUOTE(hyperzz @ Mar 28 2019, 01:53 PM)
FAST is like the instant transfer in MY. Do you have a bank account in SG?

Once the fund is in Captrader, you can buy USD.SGD or EUR.SGD for the conversion.
*
Yes I do have a bank account in Sg which I opened recently. I can't believe it is free via FAST to fund Captrader, so I ask. ;D

No fees at all huh
hyperzz
post Mar 28 2019, 03:22 PM

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QUOTE(markedestiny @ Mar 28 2019, 02:02 PM)
Yes I do have a bank account in Sg which I opened recently.  I can't believe it is free via FAST to fund Captrader, so I ask. ;D

No fees at all huh
*
For most countries, local bank transfer is free smile.gif
You need to get the Instarem account too, to get the best MYR->SGD rate and transfer fund to your SG bank account.
Some forumers have verified that Instarem can help to fund Captrader/IB directly. But for proper record, I prefer to use my own account.
markedestiny
post Mar 28 2019, 04:24 PM

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QUOTE(hyperzz @ Mar 28 2019, 03:22 PM)
For most countries, local bank transfer is free smile.gif
You need to get the Instarem account too, to get the best MYR->SGD rate and transfer fund to your SG bank account.
Some forumers have verified that Instarem can help to fund Captrader/IB directly. But for proper record, I prefer to use my own account.
*
I have instarem too which I make use to fund my Sg account, but if I can transfer for free via FAST to Captrader, it's better no?

To transfer to Captrader using SGD account(FAST) , which options do we choose

1) Connect Your Bank Account
2) Bank wire
3) Online Bill Payment

Is it Bank Wire? Appreciate your advice.
hyperzz
post Mar 28 2019, 05:09 PM

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QUOTE(markedestiny @ Mar 28 2019, 04:24 PM)
I have instarem too which I make use to fund my Sg account,  but if I can transfer for free via FAST to Captrader, it's better no?

To transfer to Captrader using  SGD account(FAST) , which options do we choose

1) Connect Your Bank Account
2) Bank wire
3) Online Bill Payment

Is it Bank Wire? Appreciate your advice.
*
Which Bank are you using?
It should be bank wire. Do you see the FAST transfer option?

messy
post Mar 28 2019, 10:46 PM

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Hi guys, I'm a newbie who just learn about investment. Does anyone know what is the difference betweeen DIY ETF (via Ameritrade) and Stashaway? I know that Stashaway is also a platform which invest in multiple ETF. If you sifu will choose one, which one will you choose? Ameritrade or Stashaway? Thanks!
SUSDavid83
post Mar 28 2019, 10:56 PM

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QUOTE(messy @ Mar 28 2019, 10:46 PM)
Hi guys, I'm a newbie who just learn about investment. Does anyone know what is the difference betweeen DIY ETF (via Ameritrade) and Stashaway? I know that Stashaway is also a platform which invest in multiple ETF. If you sifu will choose one, which one will you choose? Ameritrade or Stashaway? Thanks!
*
Stashaway is a managed portfolio of several ETFs based on your risk appetite.
You can't choose which constituent of ETFs you prefer or want for.

Ameritrade should allow you to buy individual ETF that you desire for.

elea88
post Mar 28 2019, 11:11 PM

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QUOTE(hyperzz @ Mar 26 2019, 10:55 PM)
Just to add more explanation.

elea88, I assume you need HKD for HKEX. IB does not have the pair SGD.HKD. So you need to convert twice, SGD -> USD -> HKD. You can follow the suggestion by rjb123 for SGD -> USD (meaning to BUY the pair USD.SGD).
Then you need to SELL the pair USD.HKD to get your HKD.

Some basic concept about forex trading. For a currency pair, i.e USD.SGD, the first currency (USD) is the base currency, the second currency (SGD) is the quote currency. 
Assumed 1 USD = 1.3514 SGD.
When you :

1) buy 10,000 USD.SGD, you will get 10,000 USD. For this BUY, 13,514 SGD will be deducted from your IB account. The commission charged is 2 USD. Buying a currency pair will give you the base/first currency.

2) sell 10,000 USD.SGD, you will get 13,514 SGD. For this SELL, 10,000 USD will be deducted from your IB account. The commission charged is 2 USD. Selling a currency pair will give you the quote/second currency.

IB has a youtube channel with tutorials, i.e. Forex with WebTrader 

Hope this helps.
*
Thank you for all your help...

i feel so silly ya..but i really cannot find USD TO HKD.

i manage the USD.SGD. got my USD already.

how to convert USD TO HKD? i am using the TWS.






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