Paysera can be an option.

PROs:
1) Account can be opened remotely. Malaysians accepted.
2) No monthly maintenance fee.
3) Free SEPA transfer.


CONs:
1) Still an e-Money account, not a real bank account. Therefore no standard EU deposit insurance. However, Paysera has been established for some years and is building on its reputation. I do not suggest you to keep a lot of money with Paysera. Can be a temporary solution.
2) No debit card for non-EU residents.
3) This IBAN can only receive SEPA transfers, no SWIFT transfers.


In a way, the paysera IBAN is more 'real' than TW's IBAN.
When sending or receiving SEPA transfers, you will see the same IBAN.
TW uses a different IBAN from your borderless acount when executing your SEPA transfer but your name appears as the account owner/sender.

Please don't use Paysera for any crypto related transactions or risk the account being frozen.

For withdrawal from IB into TW borderless account, only the EUR option is possible through SEPA transfer, as in the case of making a deposit.

Recently TW added a prefix to its customers' USD account. Incoming ACH not matching the new account name will be rejected.

For withdrawal in GBP, IB only offers SWIFT transfer which requires an IBAN. TW does not give IBAN for GBP account.

Actually travelling down to KL to get Instarem account is a not a big deal.
Those who are serious in managing their wealth and freedom will travel oversea to open bank accounts.

This post has been edited by hyperzz: Jan 24 2019, 05:34 PM

I can't reveal too much. The world is bigger than you thought.
You made the right move yourself when you opened bank accounts in Singapore.

wt_vinci has experience with Instarem -> Captrader.

Another way is to open a SG bank account (Maybank/CIMB is the easiest way):

Instarem (SGD)-> SG bank -> Captrader (free transfer via FAST).

However, Captrader only supports SWIFT for SGD withdrawal which will incur S$10 charges by the bank (Inward TT charges).
The SWIFT transfer is free once a month.

This post has been edited by hyperzz: Feb 19 2019, 07:50 PM

Captrader is just a white label, it has no accounts of its own.
All deposits are handled through IB's accounts with Citibank in various jurisdictions, i.e. US, UK, EU, HK, SG, etc.

I am not a CS from Captrader. Please email them and share the reply here.

Looking at the product offerings of TradeStation which exactly match IB's, very likely it is a white label of IB. I doubt they can offer this price if their backend is not IB.

According to Wikipedia, IB has 200 white labels or introducing brokers worldwide. The competition among them is heating up which is good for investors.

Just to add more explanation.

elea88, I assume you need HKD for HKEX. IB does not have the pair SGD.HKD. So you need to convert twice, SGD -> USD -> HKD. You can follow the suggestion by rjb123 for SGD -> USD (meaning to BUY the pair USD.SGD).
Then you need to SELL the pair USD.HKD to get your HKD.

Some basic concept about forex trading. For a currency pair, i.e USD.SGD, the first currency (USD) is the base currency, the second currency (SGD) is the quote currency.
Assumed 1 USD = 1.3514 SGD.
When you :

1) buy 10,000 USD.SGD, you will get 10,000 USD. For this BUY, 13,514 SGD will be deducted from your IB account. The commission charged is 2 USD. Buying a currency pair will give you the base/first currency.

2) sell 10,000 USD.SGD, you will get 13,514 SGD. For this SELL, 10,000 USD will be deducted from your IB account. The commission charged is 2 USD. Selling a currency pair will give you the quote/second currency.

IB has a youtube channel with tutorials, i.e. Forex with WebTrader

Hope this helps.

This post has been edited by hyperzz: Mar 26 2019, 11:00 PM

You're right. I was only thinking in general term, most of the listed companies are denominated in HKD. But HK is truly an international hub, even the local bank transfer can be made in USD or EUR, besides the default HKD.

My understanding of CFD:

1) CFD is a financial product created by the broker itself. The value of CFD exists only in the 'world' of the broker that sells it. Outside this broker, its CFD is worthless and not recognised by other brokers and therefore not transferable. If you buy the real stock, you can transfer the stock to another broker should you become dissatisfied with your current broker.

2) CFD is only traded within the system of the broker that sells it. Therefore, the broker is the market maker and has full control over the price movement. The real stock is traded over a stock exchange like NYSE, NASDAQ, SGX, HKEX, etc. The stock price movement is determined by market forces. Supposedly CFD will mirror the price of the stock that it is tracking but the broker can manipulate the price by applying a spread (the price difference between the CFD and the stock) or latency(delay in tracking the real stock).

3) Whenever you buy or sell CFD, the counter-party on the other end is always your broker, not another trader. Therefore, if you buy CFD from eToro, you must sell the CFD back to eToro. The broker is the one to determine the buy-back price.

4) Yes, you can buy CFD without leverage, just like buying stock. No interest will be charged.

5) If the broker collapses, all the CFD become worthless but real stocks can still be transferred to another broker.

Big brokerages like IB, Saxobank, CMC Markets also issue their own CFD. If I have to buy CFD (i.e. no other way to buy the real stock), I will only deal with a strong and well established broker. eToro is relatively small but they have done a great job in marketing.

If you trade forex for more than US$ 1 M in a month, the commission is less than $2/transaction for the rest of that month.

IB offers the option FIXED or TIER. The white labels only offer FIXED plan as they want to earn the difference in pricing.

I would suggest TIER plan regardless of your trading volume.

This post has been edited by hyperzz: Mar 27 2019, 06:39 PM


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I have not been through this process but this is what I think will happen.
When you sign up with Tradestation with an IB account, you are basically transferring the whole account from IB to tradestation. The old account with IB will be closed. You will get a new account number with Tradestation. This account is subject to Tradstation's FIXED pricing plan.

Yes, you can use your tradestation username and password to log in to IB's account management, webtrader, TWS or mobile app.
However, your account still follows the white label's FIXED pricing plan. The only way to get the TIER pricing is to sign up with IB directly.

FAST is like the instant transfer in MY. Do you have a bank account in SG?

Once the fund is in Captrader, you can buy USD.SGD or EUR.SGD for the conversion.

For most countries, local bank transfer is free
You need to get the Instarem account too, to get the best MYR->SGD rate and transfer fund to your SG bank account.
Some forumers have verified that Instarem can help to fund Captrader/IB directly. But for proper record, I prefer to use my own account.

Which Bank are you using?
It should be bank wire. Do you see the FAST transfer option?

Have you searched for USD.HKD?

TWS has 2 modes: Classic or Mosaic.
I prefer the Mosaic mode.

Here are the tutorials:

FX Order in Mosaic
FX order in Classic

Remember you have to sell USD.HKD.


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markedestiny That should be it. If you are still in doubt, try with a small amount.
I am not sure if FAST is free with CIMB. I use Maybank SG where FAST is free.

Krv23490 Is your transfer from CIMB SG to FSM free?

The list on Captrader is not the complete list. After you open account with Captrader, you can notify Captrader/IB about your deposit.
There many currency options for deposit/withdrawal. See the picture attached.



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