I mean convert.

From IB, u need to convert to EU if you wan  buy EU stock

i think this means IB will take instructions to TT the amt requested in USD. The local bank will then convert to RM at prevailing rate on that day.
hmm... that means for frequent intraday trading, will need >usd25k as deposit.


once or max twice a week, 10k shuld be ok, i suppose...?

We're still waiting...

We're still waiting...

Formula looks okay except:
1. Withholding tax for VUSD is 15% not 0% I believe.
2. IB's cost for US denominated stocks on LSE is 0.05% trade value / min. order $5 ($10,000 value). So it should be Qty (-5) & cost (+5) in the formulas.
3. For those who have not build up to $100k, the trading cost on this platform is exactly $10 every month.

I re-did the calculations using criteria (1) & (3) above, my results are:
VUSD 9.68% vs VOO 8.83% (0.85% difference)
VUSD $342.71 extra

A quick recalculation:
ROI VUSD 9.74% vs VOO 8.83% (0.91% difference)
VUSD $363.64 extra

So.. IB buying LSE stocks it is? 

You are correct about this, but dividends will still be taxed.

CASH Dividend 0.16905300 USD per Share (Ordinary Dividend)

Ok so you buy the VUSD on the LSE.. so you only get charged 15%.. cool yea let us know

bloomberg now showing usd/rm 3.6132.
last week 3.55-3.56 wud be nice!
i m late too!
almost there.

maybank sell 3.61....

what u got, 3.51 usd->myr, is about right on fri.

maybe mbb spread a little worse but when i checked cimb on thu, i was told 3.53.

3.6132 myr->usd is probably a derived rate at this time since rm is not traded during the holidays.
http://www.bloomberg.com/markets/currencies/asia-pacific/

thanks to you and rjb, my ib account has just turned active.

wired at 10.30am, ib email acknowledgement at 3pm.

rate at cimb was 3.6310.

kinda high to me since cash rate and normal rate should be about 3.61 today.

tt rates always higher?

Good day to all =) I am interested in opening account with Interactive Broker ( IB ), however there's a few things that I would like to clarify before I proceed

Under application form, I have reached W-8BEN form, this is needed as I am Malaysian and that's for tax purposes right? And may I know what are the methods of transfering money that is safe? Normally how you guys transfer the minimum 10k USD over for opening account? I have read the instructions on IB but still abit puzzled over it, plan to get into emailing them or chat but get a few guidance from sifu here

Thanks for all the help

Seems like a lot useful info and tips in opening IB as i needed from forummers,great helps,thanks, rjb123 ,is it okay if i used CIMB to transfer instead of Maybank as you suggested?

So, money transferred from my bank will converted according to that day rate right? So now it needs to be around 40++k

Wire charges are kind of high aren't they?

It's kinda troublesome to purposely went down to Singapore to open an account just for this purpose isn't it? Might as well spend that $40 - 50 

Hi guys,

I am planning to open up a foreign share trading account (e.g, CIMB Itrade), purchase some ETFs in HK (e.g, S&P500 ETF Vanguard). What fees will I be looking at per transaction?

7.75% charges  ???