I have been doing this since early 2020, exchange with my sister in law who working in SG.
So far no issue or question from bank.

Among all the SP 500 ucits usd etf, which 1 is the most perfoming? SPY5?

As long not more than 3000SGD the banks are usually will not have any issues with it

Anyone with a referral offer code for tradestation-international?



What is the difference MY bank > Transferwise > IBKR vs MY Bank > Transferwise > Cimb SG > IBKR ?

This post has been edited by Lim Ling Yang: Jul 3 2021, 08:21 PM

Currency conversion and extra charges

RM to USD to IBKR

RM to SGD to USD to IBKR

The difference it is obvious

I would think an extra step/person will increase the charges? no?

could you give an example? say start with rm10000? super newbie here only have been using stashaway

This post has been edited by Lim Ling Yang: Jul 3 2021, 08:54 PM

People said TransferWise cannot transfer USD Into IBKR. Only EUR
If you have borderless account you can bank in USD as it's considered local transfer under your own name.
But since TransferWise shut down borderless account for Malaysian unlikely you will have it.
Which means any USD transfer coming from Ibkr is considered third person transfer which means automatically blocked by IBKR.

If you go by CIMB sg route, money will go without any fuss. Not to mentioned conversion inside Ibkr inside Ibkr is spot rate which is cheaper than what TransferWise can offer you.

Not to mention by using TransferWise to transfer money into Ibkr, Ibkr will question you for source if money 6-7 months down the line. Failing to give satisfactory answer or refusal to give Ibkr answer after being contacted x3 will have your account ban.

No such issues if using CIMB sg as the transfer is from the bank under your name.

Hope this helps.

Of course otherwise how banks earn money

You have to remember that banks earn 2% off FX spot rate for every conversion

Even StashAway has 0.1% after conversion off spot rate

RM10k x 0.25 assuming USDMYR is 4 to 1 will give you USD2.5k but your SA will only have USD2497.50 as 2.50 goes to Citibank as CC charges

You can imagine now with 2% from Banks now as they have the right to fix spot as they seen

Go compare to TW, BigPay, SunwayMoney and others whichever gives you the best rate on the spot pick that unless the money is super urgent

Go read through previous thread on how to pick the best rate

CIMB SG is the extra step because you need to prove to IBKR that the money is belongs to you while TransferWise doesn’t have the validity of it

Suggest that you read through how RamJade does his transfer as he has pick the best way to do frequent transfer without any hassle

Got it. Tq

I can. myr -> usd straight w/ wise

back then when i use instarem, ibkr contacted me once to verify via secured msg. So i replied. no problem since.

this wise thingy belum kena contacted yet. but very happy ibkr can receive my usd wise payment straight. Money will kena float 3-4 days upon receipt.

Can document the steps to do this via Wise?

Ok, will try direct MY>Wise>GBP IBKR CSP1

Set ibkr intention to receive
Send myr USD via wise

Should reach ibkr in few business days. Money will be stuck on hold for 3 to 4 days before masuk ur acc

which option for transferwise?

Go back one page. Click 'transfer funds. Paste ur screenshot here

VWRP vs SSAC
Thoughts? Which is better for global index?

Also is there a US Total Market Index Fund ETF? Not just the s&p500?

That's odd, I just signed up for Wise and I'm able to transfer USD to IBKR no problem.

Have a question for sifus here (apologies if its common), is the difference between investing in US funds and Irish funds significant for Malaysian? Assuming its index tracking ETFs with minimal dividends anyway.