Funds are available to withdraw 3 days after depositing.

No problem to empty the account, assuming no margin is in use.

another NOOB question.

To view an activity statement from Account Management

Click Reports > Activity > Statements.
The Statements page appears by default.

Problem is.. i looking and looking in Account Management. do not have this REPORT word also..


How to print out Activity log or statement?

No need.. found it already. Answer is: have to login from web and not use the TWS.

This post has been edited by elea88: Apr 1 2019, 09:33 PM

transfer funds from POSB to IB.. is super fast . it gets updated in about an hour or so...

Faster than MKE..!!!

Can anyone confirm for CapTrader - you cannot buy SGX shares and ETF?

There's no Singapore/SGX under Shares and ETFs in https://www.captrader.com/en/account/conditions/

And under exchanges for Singapore I'm seeing CFDs, options and futures
https://www.captrader.com/en/products/exchanges/

Thinking to accumulate SGX share/ETF and Irish domiciled ETFs then transfer to IB when AUM hits USD100k

Thanks

You're right, Captrader does not offer SGX shares and ETF, unfortunately.
A white label might not offer every products that IB has.

Nice
Cause got nothing to buy so not going to buy for the sake of buying.

You dump USD100k with IB/trasnfer USD100k worth of shares to IB? Cause if don't do that got monthly fee of USD10.

This post has been edited by Ramjade: Apr 1 2019, 10:24 PM

Thanks for the confirmation, appreciate it

But trading fees offset the $10 USD inactivity fees .. if you DCA into a few ETFs every month, you're likely to spend close to $10 on trading fees anyway. Considering most other brokers have higher fees, I don't think this $10 is a big deal

The thing is I don't do DCAs, I don't trade, I buy and keep dividend stocks. Buy only when there's a sales.
So sure kena charge

This post has been edited by Ramjade: Apr 1 2019, 11:04 PM

buy sell buy sell.. sure can reach USD10

can buy SGX. brokerage is SG 2.50 still cheaper than anything in Singapore as we are Malaysian.

I where got USD100K? also dun think i trust it enough yet to put in so much

i buy HKEX SGEX USD.. hv no idea yet how they calculate the USD10

convert all brokerage to USD and offset ?

I guess trial and error. after 1 month see what happens.





This post has been edited by elea88: Apr 2 2019, 09:35 AM

USD100K can be in cash/shares worth.

Yeah something like that. USD10 - All your trading activities commission together.

You forgot IB is international broker. Semua ada. UK (no dividend tax), AU and Ca ada. That's what appeals to me together with it's low price.

This post has been edited by Ramjade: Apr 2 2019, 09:41 AM

You can start with a white label, use it as a stepping stone until you reach 100k. There's a learning curve when switching to IB as it's platform is geared towards professional traders. It takes some time to really master it.

Yeah - I use IB a lot for currency exchange .. quite a few times I've used IDEALPRO vs FXCONV only to have to reverse the transaction again

They have the trading on their site (not using TWS) also if I remember , which is a bit simpler.

Make the same mistake myself. Once I also shorted an option by accident and have to buy it back.
The FXCOV option was created after some customers complained that IDEALPRO option will create a virtual position by default. I was one of those who complained
This virtual position can be set to 0 in TWS and thus making it disappear.

But if you set it to 0 (ie. close positions) doesn't that do the same thing of just closing the virtual currency position?

Another great thing with IB is the margin rates on negative currency balances .. GBP/EUR is only like 1.6% PA

But deposit rate for EUR is negative .. due to the ECB deposit rate being negative also.

Yes, the virtual position is closed but your account is not affected in anyway. Your currency exchange will not be reversed.

Unfortunately the white labels have slightly higher margin rate. The difference in margin rate between IB and the white label's is profit for the white label.

IB is nice that negative rate only applies when you have more 100K of a currency with negative rate, i.e. > 100K CHF/EUR.
I also exchange currency when the rate is in my favor.

This post has been edited by hyperzz: Apr 2 2019, 02:57 PM

The rates for balances under 100k are actually higher than above 100k, not sure where you're seeing it free under 100k?

Yes, for any negative balance, we will incur interest charges, regardless of which currency.

But for positive balance in some currencies like CHF, EUR, etc, we will incur interest charges too, for the portion > 100K, due to negative interest imposed by their respective central banks.

Just want to ask m, I am going to open with Tradestation.
They ask for USD 5k, now if I deposit > USD5k in terms of SGD is it OK? Or do I need to convert?

elea88, rjb123, hyperzz what SG bank did you link to IB?

This post has been edited by Ramjade: Apr 2 2019, 08:24 PM

You can deposit US$ 5K or equivalent in any currency supported by IB. No need to convert.
Any SG bank with FAST transfer will do, for free transfer.