Open overseas bank, use instarem and pay into overseas bank account.
Pay IB using overseas bank account in that country local currency.
Use IB own exchange to exchange to the currency you want since their currency exchange rate is way better than any fintech (cheaper)

Nice. Thanks for the info. Cause I read it from IB FAQ.

If PB, very easy to open. As someone said Cimb SG all online.

Not to mentioned worth TW and soon to joint the gang, Revolut.

Annual fees only applicable for unit trust/bonds/US stocks bought on FSMOne platform

FSM only good for buying SG and HK stocks.

IB still cheaper and provide access to all markets

This post has been edited by Ramjade: Jan 8 2019, 09:32 PM

Degiro is OK if the money come from bank account in your name. Not transferwise, Instarem or revolut.
Aka must be a real bank account. Not a fintech bank account.

Fintech is perfectly fine to use. I have use it numerous time. If you can show proof where your money come from, no one is going to bother you.

I use fintech because I don't have access to PB. It sorts of help to level the playing field for ordinary folks. Use to be only the rich can afford cheaper rates but now with fintech, we don't need to be at the bank's mercy. They don't want to give us PB rates it's perfectly fine as fintech can give us the rate.

I don't think all need min fees. I found out some bank account don't need to pay fees. The 2 questions are
1) how you going to open it as a Malaysian without any priority banking?
2) can you open it from here without flying to UK?

rjb123, hyperzz know of any white label IB based in UK instead of Germany?

This post has been edited by Ramjade: Jan 13 2019, 10:56 PM

Simple. UK is relatively tax free vs Germany. Don't know how inheritance tax and stuff will work in Germany or US as a foreigner.

This post has been edited by Ramjade: Jan 15 2019, 09:25 PM

Correction. Klang Valley. Not sure if they serve penang and Johor.

If you don't want that, can always go for moneymatch. All online.

Captrader won't suck your money. Your local bank will.

Normal. Thet don't even allow people to transfer to their own account. That's why nowadays seldom use them.

Use la like TW to hold your currencies. Then use TW to transfer money back to Malaysia.

I suggest test with say USD 1000 first.

RM - > Instarem - > Captrader/IB.
Captrader/IB - > TW - > Malaysia bank account.


The other alternative is
RM - > instarem - > DBS multiplier account in SG - > IB/Captrader
Captrader/IB - > convert to SGD via Captrader/IB own platform exchange - > DBS multiplier - > MY bank account.

Test water with USD1k and see. If cannot jadi, you just burn the USD1k only.

This post has been edited by Ramjade: Jan 19 2019, 09:48 PM

Where are you based in? Ask their customer service wherether they service your state or not. No need KL. Klang Valley. You can ask them come to you. Meet at KL sentral or TBS also can. You don't need to meet them. They come to you.

For me I am in Pahang. No access to to instarem. Make appointment, got 3 days leave faster go meet them (set up date, time and place to meet beforehand so just go to KL and meet them at KL sentral.) If you don't make the time for it, you will never have access to cheap rates and continue paying free money to banks.

If you transfer from TW to local bank account won't eat up so much as TW is using local Malaysian bank account to pay you.
If you direct transfer from Captrader/IB to Malaysian bank account, then yes, bank eats up big chunk of money.

Of course can. My friend did it. But I met at Kl Sentral.

Easier for you if perak. Take commuter to KL Sentral only.

PM me if you want instarem code.

If you are investing over long term, RM60 adds up. If one time, then can close eye.
Sometimes, such money need to be spend to get more savings down the road.

I think you misunderstood me. One off means you won't be paying it again. However because one is transferring money to overseas broker on a regular basis, is not a one off event. Is a recurrent event which makes senses to reduce recurrent wastage.

The question is why bother to pay extra when the extra saved can be used for investment? No point paying extra when you get no benefits out from it.

10x of transferring already incur RM600 which can buy a decent meal.
Is just one day. Can make appointment, go early morning, come back at night

Actuality I beg to differ as
1) we are earning RM.
2) even if you open bank account overseas, how are you going to fund it? No point have overseas bank account but can't fund it right?
-end of the day you need to transfer your RM

BTW how do you and rjb123 subscribe for rights using IB/Captrader?

This post has been edited by Ramjade: Jan 24 2019, 03:56 PM

I don't regret doing both.
1) opening an account in SG means I have more access as SGD is more acceptable currency
2) opening instarem account means I won't be at mercy of unfavourable Bank rates.

I just want to know the process on how to apply for rights. No point having a broker and not being able to apply for rights/Preferential offering right?

The answer is here. You want the cheapest, IB/ Captrader
If you have USD100K, IB it is.

No need to pening think which broker to choose.