https://robinhood.com is also a commission free broker in US, anyone manage to open account with them and any feedback of their platform?

oh too bad, because their options trade also no commission.

If transfer from instarem(MYR) to transferwise(usd).

i dont see transferwise can transfer usd to IB broker in usd also.

pls advise.

ACH have fee
But bank wire dont need to pay fee at transferwise

wait do u mean
if i have USD at transferwise, the only option that i can send USD to my IB broker is using the ACH option?

Hi All creative minds!
Any recommendation of any foreign ETF that behaves like 'FD'? Where we can park 'US/Euro' for short term (3-6months or even 1year), low risk like FD and yet receive slight higher interest than FD? (like ASNB or EPF equivalent)

I saw somewhere on the web that malaysians can apply for poems sg for oversea stock investing. But I can't find any discussion regarding this platform in this topic. Any input?

Hello all, newbie here to ETFs and index funding. Hope someone can clarify some question I have.. At the moment I have interactive brokers account, and a SG account with SGD.

1) If I want to fund, does it matter which currency I pick to fund with? I don't see any explanation about why I would want to send in SGD or USD. Only thing I can think about is maybe my bank will give me unfavourable conversian if I do SGD -> USD? In that case is'nt it better I fund using SGD?

2) Is there any other charges to know about. Perhaps, does IB charge to receive or is it just the TT charges?

Appreciate the help, thank you in advance.

Hi, sorry let me clarify - I am definitely using IB and NOT my bank to buy ETFs. I am trying to transfer money from my SG bank to IB but I don't know which currency to pick.

Thanks for the swift response guys! Super appreciated! One more thing, in terms of contributions.. is it best to deposit monthly or in one lump sum? I read it was better in monthly (dollar cost averaging..?) but then I would get TT charges each time.

Yes, I am paying attention and I appreciate all the info. I would have wasted alot of money converting SGD -> USD at the bank if it werent for the info here. But I am also trying to learn about index funding in general for friends/family who have no SG account (only Msia bank account).

So in the case you only have a Msia bank account -

1) Do people deposit in lump sum in a year or monthly deposit? On one hand in lump sum you reduce TT costs..but wouldn't monthly deposits improve the growth?
2) In that case, no choice but to convert MYR->USD at bank level before wiring to IB, correct?

Thank you once again.

Zackstrade is OK if you are only interested in the US market. It is a white label of IB. If you want to trade in other markets like Europe, HK and Japan, I would recommend Captrader (also a white label of IB) which has lower commissions for non-US markets.

I looking for this method too.
May I know what is ur experience ?

Will u try to transfer from transferwise to IB?

Ramjade, may I know what currency did you transfer to assuming that you used MYR to pay?

instarem doesn't support MYR to Euro at the moment else it would be perfect.

Sorry for necro'ing an old post.

The most ideal currency conversions would be as follows:-

Deposit
Using merchantrade(e-remit)/max money/instarem ----(pay MYR from our bank account to remit USD)---> Transferwise borderless account ---(ACH/wire)---> IB bank account

Withdrawing
IB bank account --(ACH/Wire)--> Transferwise borderless account ----(Convert from USD to MYR and remit)---> Our Malaysian bank account
And this is much cheaper than just Foreign telegraphic transferring - mostly due to the crappy rates that our local banks give right?

You can find Captrader's fee and commissions here:

Captrader

Nope, you won't be charged inactivity fee.
Captrader has answered this in their FAQ section.

Captrader FAQ
Therefore, you will be charged inactivity fee of $1/month only if you fulfill both conditions:

1) Account balance is less than $1000    AND
2) No trading activity in that particular month.

This requirement is way more lenient than the similar requirement imposed by IB.

Tq boss... I use instarem... Safe to proceed?