Congrats! But I think you should be able to deposit into IB's USD account with Citibank in New York too.
Further Credit Payments is not required. Maybe I will try it out later.

hi anyone been transfer from TW to tdam sg ? I try to add recipient detail on TW but don't know how

The first post says:
On US ETFs you'll get Withholding tax deducted from Dividends at a rate of 30% - although half of this can be claimed back as long as you submit a 1040NR form by April 15 the following tax year.

How is that possible, there is no tax treaty US - Malaysia, how can we get half of the 30% claimed back? Does it refer to dividends from non US stocks (for example VXUS) that has been withheld?
Anyone filing 1040NR with success ?

That bit actually is wrong.

Currently the only way in Malaysia to save those 15% is by buying foreign ETFs - such as Ireland domiciled ETF.

Hi all sifus,

I have a friend he told me that he is purchasing US ETF via CIMB iTrade but is in RM instead of in US. He opts to transact in RM as conversion to USD is very hassle which he needs to sign the form and so on.

I am wondering is it possible? Anyone is using this as well? Mind to share the flow for the transaction?

Thank you

i'm no sifu ya, just sharing:
i used to do this before centralizing to TDAmeritrade SG.

On iTrade's platform, U buy/sell in USD but if U dont have USD, it'll ask for MYR (FX conversion guidance shown). Thus, when i pay, i pay in MYR if i do not have USD with iTrade's "multi-currency account".

AFTER U have USD with iTrade (eg. via dividends or from selling off a US listed ETF), U can use that to pay.

It's similar to HLeB (now HLiB) - for US, SG, HK, etc. denominated stocks in their foreign trading platform. The problem i had with HLeB's foreign platform was no ETF (NYSE-ARCA) online, thus had to do via calls.. urgh. Thus, i went for iTrade specifically for US-listed ETFs.

This post has been edited by wongmunkeong: Dec 10 2018, 02:08 PM

so anyone subscribing MyETF?

Oh, thanks for your sharing....mean no matter how, the currency exchange will be applicable....when my friend told all in RM, i really wonder.....now i have a clearer picture....

as i don't have much capital and my income is low....in other words, my transaction will be very minimum...that's why wonder if I shall go for IB or just use the iTrade will do....

knowing what i know now, and if i reset/restarted life, i'll go with iTrade for US ETFs first then as i make more in investments+ACTIVE INCOME, then only go IB and others.

i'm not with IB, was with OptionsXpress & now TDASG - coz i dont trade in/out much.

oo.. keep in mind, ALL DIVIDENDS get raped 30% by US' IRS if U are like me - non-resident alien (NRA). capital gains aren't taxed currently by either US' IRS or MY's LHDN (unless trading is your main active income)

This post has been edited by wongmunkeong: Dec 11 2018, 02:15 PM

.

Have you considered using Irish ETFs or similar to halve those WTs to 15%?

The downsides (less liquidity, higher trading fees) shouldn't affect you too much if you're just buying and holding.

Ya, i think that so....to accumulate via iTrade first.....then, only open IB or other overseas Platform...I will buy and hold only as i am not good in analysis...and so...i plan to do fund accumulation......recently buying REITS in Malaysia....

iTrade isn't cheap, each trade USD 25 if i'm not mistaken not including forex loss from MYR->USD (please share here what is the USD/MYR rate in iTrade compared to the rate in midmarket/xe.com). plus additional 30% withholding tax. if you're keeping for long term (5-10yrs), best to use Ireland-domicled ETFs and buy via IB through captrader.

TW sent ACH wire from Wells Fargo bank, according to their CS.
Tried a few times to deposit USD into IB's account with Citibank but unfortunately all transfers bounced back. Seems like this way is not workable.

yeah considered but.. i'm linking stock options to US-listed ETFs & stocks to juice the returns when held (selling CALLs at worthwhile returns VS (dividends pa -30%, inclusive round-trip cost)
OR
getting some returns when hunting for purchase price i want (selling PUTs at prices i want to buy)

have yet to dig deeper on how to do equivalent with Irish ETFs +have to open new platform (TDA SG dont play that)

yup, minimum cost per trade = USD25 but as U do larger sized orders, it goes down to about 0.42% - around USD5955K value order the last i used them, eg. USD$59.55 stock *100units

as for Forex, if U guys can look up the historical rate online, U can VS. the data i have:
27/08/2015 4.257500
thus, my CVX USD4864.41 was settled with MYR20,710.24

hope the above helps

This post has been edited by wongmunkeong: Dec 12 2018, 09:20 PM

ya, i knew it about the higher charges and higher with-holding tax on dividend if trade via iTrade

however, based on my income, i am only be able to top up the fund maybe once or max twice per year.....in order for me to be safe from the inactive charges which will be charged on monthly basis....i need to have at least USD100,000 in the IB account.....that's still a big distance for me......one off charge of USD25 will be more practical and worthy for my current condition.....

for currency gain or loss, regardless which methods I use (either via iTrade or IB (or other equivalent)), i can't escape from it.....

not sure if i overlooked in any other aspect.....very new in investment....hope sifu can correct me if i am wrong...

thanks

I found another way which might help you.

Instarem MYR->SGD transfer to IB's account in SG.

Convert SGD-> Euro in IB. DONE

Cheers

CapTrader/ZackTrades doesn't charge you inactive charges if you have at least EUR 2k or USD 2k respectively if I'm not mistaken, go check their websites. They're both using IB as their backend.

Cheers

Mid-market price on that date: 4.193500
https://www.x-rates.com/historical/?from=US...date=2015-08-27

Forex loss is 1.53% which can be considered as total cost per trade plus USD 25.

The rate is quite comparable if you were to use CapTrader and trade Ireland-domiciled ETF. Mine equated to around that figure too in total with all the conversion MYR->SGD->EUR . Though in long term, you will have less returns due to 30% WTH tax.

Thanks for willing to share your info.

This post has been edited by wt_vinci: Dec 13 2018, 10:37 AM

Thanks but I don't really need this, already have bank accounts oversea. Just sharing experience, hopefully it will be beneficial.

Does Instarem send SGD in the name of its customers? If not, the transfer will bounce back. I can see that ACH wires sent by TW are in the name of its customers but still not acceptable to IB.

This post has been edited by hyperzz: Dec 13 2018, 12:45 PM

oh...ok...thanks for sharing...let me check check....