FATCA only affect US citizen/pseudo US citiizen (those born in the US) but not those working in the US.

1. Why do you want to apply for US ITIN? Do you get any benefits? CPT? We as foreigners don't have. DWT? 30%. Cannot run unless Malaysia suddenly have tax treaty.
2. By answering even one yes, require more scrutiny on you and most likely the financial institution will deny you. (more work for them so they just deny you to make their life easier)
3. Opening a US ITIN means opening yourself up to IRS and IRS have wide arms. Better I keep myself out of IRS way and pay the full 30% when they have wide reaching arms.

Now tell me again why do you need a US ITIN again? Too much free time  

The US 10k can be use for investing. Keep in mind the monthly USD10 fee if you don't have asset worth USD100k with them. 

IB only good if
1) you trade a lot until your commission >USD10 which means don't need to pay the fees.
2) if you have USD100k with them.

Otherwise go for broker like
1) 8 securities
2) Exante
3) OptiomXpress

I am the one who left the comment. Obviously that's bank wire charges.  To get best rate,  don't keep bringing money back to Malaysia.

Get a holiday open a HK bank account and you can trade for super cheap price

Hi guys,

I tried to TT over the counter in Maybank (convert from MYR to USD) to TD ameritrades but I was informed by Maybank personnels that we cannot TT for investment purpose...

have u all faced such problem before? or should I use CIMB, Hong leong or other banks?

Or I shouldn't put investment as the reason? But it's obvious right when it is TD ameritrade ...

Tolong guys...

Thank you.

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)

Interactive Brokers = No min funding, first 3 months waiver on min fee. After that, subject to min $10/month or min $20/month if total asset under $2000. Can choose between fixed or tiered rates for commission based on trading size and volume.

TradeStation/CapTrader/other whitelabels = Introducing broker to Interactive Brokers (think buying a MAS ticket but flight is Cathay's), has their own min funding (0 or more), monthly fee (0 or more) and commission charge (marked up from what Interactive Brokers charges them). Behind the scene is all using Interactive Brokers.

I assume you want to open TradeStation for the friendlier commission rates? What do you plan to do with your holdings in CapTrader? Leave it there? Sell and buy again in TradeStation?

Instead of going through the whole min funding process again with TradeStation why not transfer your over holdings from CapTrader? That way you can keep whatever SXR8 you bought in CapTrader (without paying sell and buy commissions again) and accumulate CSPX USD/GBP from now on in TradeStation.

You could hit TradeStation support regarding moving over from CapTrader. Their rep will be happy to give you a call from London. I imagine it'll be an easy process since both are piggybacking on Interactive Brokers.

The German translated version adds more detail and confusion at the same time - it appears 30% WHT is still applicable (0% for interest = 0% for capital?), there's some paperwork filing required for reduction. Still, I don't see how one can just buy AAPL and file for tax reduction on the basis of broker/custodian domicile.

In any case, Irish domiciled funds like CSPX and IWDA would already handle the withholding of taxes automatically.

Nothing is safe, common sense high risk high return
is your so-called common ETF low risk high return?

I am not talking about common sense ETF. I am talking a out common ETF and not exotic ETFs (reverse ETF,  leverage ETF)

Agreed. Do not buy US stocks or ETF via FSM. Only use FSM for parking,  buying SG stocks and HK stocks.

That's only true if you do a TT. That's TT fees. If you exchange via FSM internally no charged.
For TT into FSM USS bank account and for them to TT money back to you.

No point I pay them if their service no good right? Why pay them for them to charge me more fees (in dividend fees,  quarterly management fees,  higher commision)  if they cannot even provide me service for US, UK, Canada market at cheap price?  Is business. Does the broker give me anything in return for the money I paid them? No right? May the best broker wins. They want my money simple only. Make change. Be on par with interactive broker. They are no where at that level. Spot exchange rate, multiple market access at cheap price

Short story: SG brokers do not have quality features and yet they wish to get away with charging more than what they deserve. Is like TV vs Maxis FIBRE.  Why pay more for Streamyx 1mbps (RM110) when you can get Maxis fibre (RM89) 30mbps? That's exactly how SG brokers are.

I have no issue with closing my brokerage account if they don't serve any purpose. With the maybank fiasco I told my trade representative to send me account transferred form and closure form. At the end of the day is just a tool to achieve your end goal. Why so touchy I spoke the truth about SG brokers?  They are a leech. It's cold hard truth.

For now yes. Have not found a replacement for it yet. Like I said where on earth can retail investors like me without priority banking have access to spot exchange rate,  more or less worldwide market at such low peice? Is like a wish come true. They make everything cheap and possible. Investing doesn't need expensive fancy looking Relationship management. Is like now everyone can invest.  Something like air asia. Now everyone can fly. Sorry I have a peasant mentally so additional cost is a very sensitive issue to me especially if the additional cost does not being any added benefits.

I am thinking more about it like AirAsia. Ugly interface, cheap but practical. Gets you from point A to B   
And why should I close? I close only what is not relevant and not useful. If is still useful why close? Wondering why are you so touchy when come to brokers? Remember they are not family members which deserve our kindness.

If you like to support them by paying them extra, by all means go ahead. I got no issue. I just wished that they will buck up and give cheaper options to retail investors. Why the need to charge so high cost? It's true as one Singaporean said, investment in Singapore is a costly affair with ETF costing an arm and leg with what they cost in the US.

Actually is true. I touched about SG brokers being outdated,  pricey, and you straight jump. If that's not touchy,  I don't know what is. Reality and truth is harsh to swallow. I know. I think is fair if we comment about the negative part of brokers?  No?  Recently we commented on difference in IB Whitelabels.

Like I said different brokerage for different purpose. Got nothing to do with conscience.

We are talking about brokerage here. Not bank.

The only good thing about SG custodian brokers Maybank KE Prefunded and FSM is the no fee for keeping an account with them until recently with Maybank actions. Able to participate in rights and placement as an international investor without a SG address. FSM have good parking place for money. That's the only benefit. Period.

I was comparing with POEMS, DBS V and FSM interface. Interface is of no importance to me.

Actually I am also thankful there are ppl like you around..u keep the brokers in check.. ur biz might not be much but brokers do not like to lose market share both in terms of volume and client base ...i , for one , is not so price sensitive ...if everyone is like me or even Hansel , I think brokerage rates around the world will still be sky high.. actually the main reason was also the competitiveness of IB... but u also don’t see IB getting all the share ... in fact they are not even Top 5 biggest in US.. see? Not everyone is so price sensitive ... there are other factors to consider

this thread is getting more interesting when Bro Hansel met Ramjade.

please be chill.

Never try. Not going to try. If you try maybe can share here.
Having a tax no with US govt means it's very difficult for you to open account anywhere in the world as most places once they know you have some connection to US govt straight will reject any of your application to open account. Hard to close account also. Good eg is London major spend so much just to renounce US citizenship. His only mistake was being born in the US. Costly and troublesome for business so they choose not do business with you.

Perks of being a US citizen (FATCA) where you can't escape the long arms of the IRS. I rather pay the 30% tax then involve with IRS of the US govt and make my life difficult in the futurre.