any recommendation on affordable platorm for casual investor? say if only trade a few shares a month? $10 a month is quite painful to maintain

You can try TD Ameritrade , minimum deposit is less too. No inactivity / data fees, but you can only buy from US exchanges. They have a lot of ETFs which are 100% commission free.

Although someone reported they're no long taking clients from Malaysia - not sure if that's still the case.

hi,i read on their website and other forums,stating if u buy ETFs thru TDAM,u hv to hold on 1 month,if u sell within a month they charged u USD19.90.....

That's right - there's a minimum holding period on the comission free ETFs.

For active trading you're better off with Interactive Brokers.

any1 hv issues repatriating money frm IB trading account to ur bank acc?

i actually traded in nasdaq/nyse stocks thru MB Kim Eng singapore frm my local MB trading acc....the usd 25 per contract fee is ridiculously high....i dont hv a big chunk of cash to traded so each trade of mne was like few hundred unit per stock....how can i earn with intraday trade if they charged so high when i looking at 20-50cent raise per share n get out with some earnings...i dun intend to hold long....

Use IB for my company overseas for foreign exchange transactions. No trouble withdrawing large amounts, $500K USD+

Hi sifus, how do you transfer money into your IB accounts?

I went to Maybank to transfer a mere 10k usd into the IB account and the bank officer said i needed a BNM approval to trade US equities. Need some advice on this issue. How did you all do it?

I've never been questioned by Maybank when doing transfers of 10K USD although I tend to fund from overseas bank as they let me do it online without having the hassle of going to the branch.

if u trade frequent or intraday with conventional brokerage fees, u lose in the end - to the brokers.

with low fees like IB, u can daytrade.

but there are rules too:

<USD25k in account, u can day trade only 3 times every 5 trading days.
>USD25k, u r free to trade anyway u want.

a year ago, no problem.

now, i hear bnm has been pushing banks to tighten up - rm falling, capital flight, money laundering cases, u know...

if bank priority customer, should be OK, i would think.

U can use maybank online foreign TT

But quite low limit no?

Also can't do online TT from FCA

New limit
http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts

Well I dont have an overseas bank to do so, i guess I'll just have to get the BNM approval? No idea how to even get that approval

Im a private banker (not sure if this is 'priority' enough lol) in the Maybank branch I went to do a TT, still had to get the BNM approval for the officer. So tough to start trading nowadays

You mean even if i did a couple of transactions through this online foreign TT to the IB accounts there will be no questions asked? with RM30k new max limit i think that can really help me out if thats the case.

Strange - even on the TT form it mentions BNM approval for transactions over RM200K - shouldn't think $10K will be a problem - maybe try again and see if you get different staff.

Always better to do big amounts as possible as the overall cost will be around $50 or so all in.

Can try other branch, some branch are more kiasi/lazier than other. It used to be just sign a declaration form, now need to get personal approval from bnm?
10k may be they can still count so need approval if 2.6 billion probably they will lost count and u will be exempted.

Yes u can.

IB withdraw screen shot.

For Maybank, there a lot of branch with their own Bank SWIFT/BIC Code, so which I should choose?

FYI, the bank that I used to wire $$ to IB dont have any Bank SWIFT/BIC Code.

Please advise. Thx

http://i.imgur.com/eI2C8kq.jpg

found this while googling...hope it helps....
list of maybanks swift codes...
(just not sure of its validity/genuineSS)
http://www.theswiftcodes.com/malaysia/page/2/

which one to choose?....Perhaps choose the one nearer to your place of work/stay for ease of going to the bank to confirm?

This post has been edited by T231H: Jun 15 2016, 07:46 AM

Maybank MBBEMYKL, if it doesn't accept that MBBEMYKLXXX will also work, no matter what branch