I am looking into funding my Captrader.

Is it really free via FAST and how do I go about it? This means I am sending SGD to Captrader and once received, I can convert into USD or Euro?

Yes I do have a bank account in Sg which I opened recently. I can't believe it is free via FAST to fund Captrader, so I ask. ;D

No fees at all huh

I have instarem too which I make use to fund my Sg account, but if I can transfer for free via FAST to Captrader, it's better no?

To transfer to Captrader using SGD account(FAST) , which options do we choose

1) Connect Your Bank Account
2) Bank wire
3) Online Bill Payment

Is it Bank Wire? Appreciate your advice.

I am using CIMB Fastsaver account.

You mean the FAST transfer option in CIMB Clicks? Under Local Transfer > Transfer to other bank?

I know I can use FAST to fund my FSM One Sg because FSM has Sg account details.

What about Captrader, do they have a local Sg account details in order to do FAST transfer? I can't seem to find this detail on Captrader web.

Thank you for your guidance. I have managed to transfer to Captrader via FAST just now. It's free indeed

I didn't receive any freebies when they verified me

Anyway I have received a 'goldcoin' souvenir for my past few transactions with them.

What if I proceed to buy shares in other currencies with SGD without converting? Would Captrader convert my SGD at the current forex rate?

My base currency is set to USD although my fund is in SGD. As such Captrader indicates my current cash holding (SGD) in USD equivalent.

Thanks all for your replies. Now I know I can't use the USD indicative sum if I don't perform the actual conversion.

I have checked with Captrader via live chat just a short while ago and they confirmed the same

This post has been edited by markedestiny: May 8 2019, 04:36 PM

Yes, you need to have a Sg bank account first. I use CIMB Sg saver account to transfer via FAST to my Captrader account, so no fees.

And to fund my CIMB Sg account, I u use Instarem. So there you go.

Edit to add : my base currency in Captrader is Sgd due to the above, therefore I can perform conversion to other currencies to buy stock when the forex rate is favourable..

This post has been edited by markedestiny: May 19 2019, 05:01 PM

Thanks, comparatively Tradestation is cheaper. But there is inactivity fee if not active ?

Are you sure on this ? Maybe you want to check with their customer service to confirm..

According to this link below, Tradestation charges non trading fees like inactivity and withdrawal fees.

https://brokerchooser.com/broker-reviews/tr...n-global-review

That's great! Seems like they have drastically revamped their fees structure recently...

Do ask them if there is any non trading fees that investors should know aware of, besides the inactivity & withdrawal fees just to cover all angles.

IIRC, previously Tradestation has a complicated fees structure, glad to see they have improve on these and becomes cheaper as p per their web.

Btw, if you use Sg bank FAST to fund your Tradestation, how fast the fund reflected in your trading account. The review link I posted mentioned 3 days?

For Captrader, I can confirm it's quite immediate within the same hour after I transferred, provided I notified them online accordingly.

Thanks for your reply. Just fyi, two of my transfers were performed at night with one transfer being done on a Sunday night.

I am still in the process of funding...so I don't think I am going to make a withdrawal anytime soon
But I could take your word for the speed of withdrawal altho i have yet to try it.

Btw, any advice or tips on the SGD fund which I transfer over. The reason I asked if because I discovered very recently that I could make small gains on the forex when I accidentally convert my currency from SGD to USD over the IDEALPRO forex (which is for speculative forex trader) vs via the FXCONV (for those who just want a simple conversion).

So now my portfolio keep P/L of the USD.SGD pair hmmm. Initially I dislike the thought of having to buy or sell currencies as it is too troublesome but I changed my mind now as this give investors the flexibility to change or convert back or forth when the rate is favourable.