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All about ETFs / Foreign Brokers, Exchange traded funds
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TSrjb123
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 Apr 3 2016, 05:27 PM
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QUOTE(bearbear @ Apr 3 2016, 03:41 AM) hi guys, i am a malaysia working in Singapore. my purpose is to invest in some stock which i would like to keep long term, i read quite abit on IB on past pages. So minimum is 10k USD to open an account, in which i could pay via my SG bank account. i just need to understand more on the cost of maintaining the account, as the sole reason for me is to invest for the future. Say if i already used up 10k upon my account been activated, cheapest way to maintain is to buy one share every month? So i just have to a share at $200; so i just have to pay $1 fee to avoid the inactivity fee which is $10? Any other cost i should be aware of? The inactivity fee gets charged as log as commissions are under $10 for the month - say you only do one transaction with $1 in fees - you'll be charged the $9 difference. I believe over $100k the fee gets waived but can't find anything related to that on their site right now. https://www.interactivebrokers.com/en/index.php?f=4969If you need live market data there's fees for those too (waived if you hit sufficient commissions for the month) |
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TSrjb123
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May 20 2016, 12:41 PM
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QUOTE(sense_less143 @ May 20 2016, 12:14 PM) Do you think they'll accept money transfer from my online USD account, or must it come from Malaysian bank account? Which broker? What kind of online USD account? IB have accepted all my deposits : GBP from Uk account, SGD from SG account, USD from Maybank and also offshore accounts (Jersey / Ilse of man) TD Ameritrade doesn't accept transfers from Isle of Man, from Maybank no problem. |
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TSrjb123
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May 20 2016, 01:05 PM
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QUOTE(sense_less143 @ May 20 2016, 12:53 PM) TD Ameritrade My online USD account is from Wirex (see my sig), whose partner bank is in Gibraltar. As long as funds are sent from a normal USD account through SWIFT I don't see a problem - you can message TD Ameritrade first to confirm. I don't know anything about Wirex or how they operate so can't say for sure |
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TSrjb123
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May 20 2016, 01:42 PM
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QUOTE(sense_less143 @ May 20 2016, 01:30 PM) Good point, Wirex processes transactions through blockchain, so no SWIFT there. I'll ask Ameritrade. Thanks for your answers! Oh in that case it definitely won't work Although block chain is for Bitcoin so USD must involved a bank at some point. Just had a quick look at Wirex - don't think you can class it as a bank account - more like a prepaid debit card which you can fund with Bitcoin. You definitely won't be able to use this to fund a broker account. You need to transfer from a bank account in your own name, and also withdraw to a bank account in your name. This post has been edited by rjb123: May 20 2016, 01:45 PM |
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TSrjb123
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Jun 5 2016, 01:33 PM
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QUOTE(bearbear @ Jun 5 2016, 01:11 PM) 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. |
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TSrjb123
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Jun 9 2016, 09:47 PM
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QUOTE(janusmun79 @ Jun 9 2016, 09:20 PM) 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. |
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TSrjb123
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Jun 10 2016, 12:14 AM
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QUOTE(janusmun79 @ Jun 9 2016, 10:31 PM) any1 hv issues repatriating money frm IB trading account to ur bank acc? Use IB for my company overseas for foreign exchange transactions. No trouble withdrawing large amounts, $500K USD+ |
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TSrjb123
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Jun 13 2016, 05:41 PM
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QUOTE(SpongeY @ Jun 13 2016, 04:16 PM) 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. |
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TSrjb123
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Jun 13 2016, 08:30 PM
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QUOTE(MNet @ Jun 13 2016, 08:04 PM) U can use maybank online foreign TT But quite low limit no? Also can't do online TT from FCA |
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TSrjb123
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Jun 14 2016, 02:21 AM
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QUOTE(SpongeY @ Jun 14 2016, 02:00 AM) 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. |
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TSrjb123
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Jun 15 2016, 10:45 AM
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Maybank MBBEMYKL, if it doesn't accept that MBBEMYKLXXX will also work, no matter what branch
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TSrjb123
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Jun 17 2016, 12:50 AM
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Just had an e-mail from TD Ameritrade, looks like need to either close the account or move to TD Ameritrade Asia. » Click to show Spoiler - click again to hide... « TD Ameritrade, Inc. has made the business decision to no longer offer brokerage services in your area, starting on November 4, 2016.1 However, we are pleased to inform you that there are a number of choices available to you for your account:
Move Your Assets Within the TD Ameritrade Family:
You may choose to open an account with TD Ameritrade Asia Pte. Ltd. ("TD Ameritrade Asia"). By transferring your account ending in 9601 to TD Ameritrade Asia, you will still have access to many of the same great benefits you have today, such as:
Our multi-award-winning thinkorswim® trading platform: a powerful, easy-to-use trading platform offering advanced customizable charting capabilities and elite-level analytics tools for trading on U.S. equity, options, and futures markets.
Service when you need it: a dedicated support team located in Singapore to help make your transition easy.
Free platform demonstrations and education: free weekly online platform demonstrations where you can learn how to use the thinkorswim platform to execute your trading strategies.
You will be able to transfer your account with no blackout period and little or no disruption to your trading. You will also remain on the same commission schedule you currently have.
How Do You Move Your Assets to TD Ameritrade Asia?
If you wish to open an account and move your assets to TD Ameritrade Asia, please follow these two easy steps:
Complete the online application
Go to www.tdameritradeasia.com and click "Open an Account."
Submit the account-opening documents and the Internal Transfer Form
Once you complete the online application, you will be prompted to submit the account-opening documents and a completed Internal Transfer Form. You can fax these to (+65) 6238 6601 or mail them to TD Ameritrade Asia at: 1 Temasek Avenue, #15-02 Millenia Tower, Singapore 039192.2
If you have any questions or need assistance with this process, please contact the TD Ameritrade Asia office at (+65) 6823 2250 or via email at help@tdameritradeasia.com. |
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TSrjb123
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Jun 18 2016, 11:12 AM
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QUOTE(apathen @ Jun 18 2016, 02:44 AM) mind asking why did they ask to transfer? because your address not in US? any advantage or disadvantage of moving to td ameritrade asia? Well it looks like TD Ameritrade will stop serving certain countries - I think TD Ameritrade Asia is new. I haven't really looked in detail at the differences yet - although I'm pretty certain stuff like commission free ETFs won't exist on the Asia platform. |
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TSrjb123
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Jun 18 2016, 07:31 PM
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QUOTE(xilepeco @ Jun 18 2016, 07:19 PM) Got the same email from TD Ameritrade. Went to TD Ameritrade Asia FAQ page. Item number 5: May non-Singapore citizens trade with TD Ameritrade Asia? Yes, non-Singapore citizens may register with TD Ameritrade Asia, provided you are a Permanent Resident or have a valid Employment Pass or Work Pass. You will be required to provide us with a valid Tax ID number in Singapore to open the account. You will also be required to verify your Singapore address by providing us with a copy of a utility bill and/or bank statement listing your address. Anyway I've sent them a message asking them about those without an SG Tax ID. Doesn't make much sense that they'd get rid of customers in Malaysia then restrict TD Ameritrade Asia only to Singaporean PR/EP holders. Let me know what answer you get - I'm not sure if I want to transfer my holdings over to IB for simplicity sake, or whether to try and open an account at TD Ameritrade Asia. To be honest I haven't really used TDAM at all recently but still have a fair bit of holdings with them so need to do something before they simply liquidate everything towards the end of the year. |
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TSrjb123
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Jun 18 2016, 07:48 PM
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Thanks - I'll give them a call on Monday also and see what they say.
I do have an account with TD International (Luxembourg) - never used it though as the fees are far too expensive . If TD Asia isn't an option then moving everything to IB it is !
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TSrjb123
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Jun 18 2016, 07:56 PM
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TDAM was good for the commission free ETFs and the live data from TOS without having to subscribe to the various datafeeds @ IB.
Looks like TDAM Asia doesn't have the commission fee ETFs but retairs the TOS platform.
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TSrjb123
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Jun 20 2016, 12:37 PM
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QUOTE(ILoveLalat.net @ Jun 20 2016, 11:46 AM) Planning to open TD Ameritrade soon. No restrictions for Malaysia accounts? Called them today too - Malaysian residents can open account at TD Ameritrade Asia - don't need Singapore tax number / PR / EP etc. |
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TSrjb123
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Jun 20 2016, 08:45 PM
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QUOTE(MNet @ Jun 20 2016, 08:12 PM) Fees are listed on their site : https://www.tdameritradeasia.com/tos/client...mmisions_sg.tos |
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TSrjb123
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Jun 24 2016, 02:47 PM
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QUOTE(bearbear @ Jun 24 2016, 02:44 PM) they told me its $10.65 per transaction, either buy or sell also same. still a good option? small time investor just buy for retirement If you're buying for boring long term holding rather than trading I would say using Interactive Brokers is preferable. Because you don't have to buy US domiciled funds which withhold 30% of tax on dividends. |
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TSrjb123
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Jun 28 2016, 12:33 PM
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Got my TD Ameritrade Asia account all set up - only took a few days. All holdings and cash transferred across, nice and easy  |
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