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 Interactive Brokers (IBKR), IBKR users, welcome!

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Krv23490
post May 19 2020, 09:36 AM

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QUOTE(wombie @ May 19 2020, 08:15 AM)
Thanks, is it a yearly or monthly fees? where to subscribe ya? bit confusing
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Do your own research, their support is amazing. if you cant find this, good luck with options
TSmoosset
post May 19 2020, 10:29 AM

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QUOTE(wombie @ May 19 2020, 08:15 AM)
Thanks, is it a yearly or monthly fees? where to subscribe ya? bit confusing
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It's just under the settings ....... It's easy to find. It's not hidden.

just login to all their platform and portals and play around. The more you click, the more you will discover.

IBKR's features are extensive; go play around!
clon12
post May 19 2020, 11:08 AM

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Hi guys, thanks for all the great info in this thread. I read from page 1 and it seems there is new info almost in every page. I am new to investing world and recently only started in KLSE, now intending to move to US.

I've created an account with TSG and Instarem, now waiting for approval. I have some questions that need confirmation, if you guys would kindly answer.

1. For deposit, it doesn't matter if I use either of these method right?
a. CIMB MY Bank (MYR) > CIMB SG (SGD) > IBKR (SGD) > exchange to USD using IBKR rates
b. Any MY Bank (MYR) > Instarem (SGD/HKD/EUR) > IBKR (SGD/HKD/EUR) > exchange to USB using IBKR rates
c. Direct TT from MY Bank (MYR) > IBKR (USD), incurring USD25 charges.

I am under the impression that method A and B is slightly cheaper, but causes inconvenient than method C, am I right?

For withdrawal, I believe many of you recommend using reverse of method A is so that we are able to withdraw from USD to SGD to our CIMB SG account before transferring back to MY Bank (MYR), which is the entirely the purpose of the CIMB SG account. If I do not want to create an (or rather, cannot at this moment) CIMB SG account, I can actually just TT USD in IBKR back to MY Bank (MYR) using our local bank exchange rate right, incurring ANOTHER USD25?

Thanks!

This post has been edited by clon12: May 19 2020, 11:09 AM
mr_tuzki
post May 19 2020, 11:09 AM

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QUOTE(soundworks @ May 17 2020, 01:00 AM)
Hey, is there a Telegram group chat for IBKR Malaysian users? Should we create one if there isnt? smile.gif
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You can try joining here:
https://t.me/joinchat/M1jTbRMfPMmCiPPDcfGt6Q
yellowflashdude
post May 19 2020, 04:33 PM

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I know this is IBKR thread but what do you guys think of either webull or firstrade?
Zenph
post May 19 2020, 05:46 PM

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Guys, anyone having trouble to withdraw the funds?

I'm using SG Fastsaver accounts + Remtrade.

How easy is it to withdraw the funds? I do not want to invest 100k usd already and realise its hard to withdraw lol
dwRK
post May 19 2020, 07:01 PM

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ibkr lost >$100 mil from wti crash...

This post has been edited by dwRK: May 19 2020, 07:05 PM
naqib0307
post May 19 2020, 07:53 PM

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QUOTE(wombie @ May 19 2020, 12:07 AM)
but I trade options, can't afford any delayed, one snapshot cost USD0.01, wow... how much to trade to get free live market data? anyone knows? I am confused
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you can subscribe to live options price.. I sub mine for USD7/mth
Ramjade
post May 19 2020, 08:23 PM

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QUOTE(yellowflashdude @ May 19 2020, 04:33 PM)
I know this is IBKR thread but what do you guys think of either webull or firstrade?
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I will suggest trading212. Cheaper and better.
FishIsSmart
post May 19 2020, 09:19 PM

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QUOTE(yellowflashdude @ May 19 2020, 05:33 PM)
I know this is IBKR thread but what do you guys think of either webull or firstrade?
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very competitive brokers in USA, protected and regulated.
mr_tuzki
post May 19 2020, 09:24 PM

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https://fintechnews.my/23800/various/securi...te-in-malaysia/
I assume IBKR also isn't licensed right
Krv23490
post May 19 2020, 09:40 PM

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QUOTE(mr_tuzki @ May 19 2020, 09:24 PM)
Don't think so, if i am not mistaken, that is why sometimes banks will be a little particular if you want to TT directly to them
mr_tuzki
post May 19 2020, 09:43 PM

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QUOTE(Krv23490 @ May 19 2020, 09:40 PM)
Don't think so, if i am not mistaken, that is why sometimes banks will be a little particular if you want to TT directly to them
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"Any person carrying out regulated activity in Malaysia without a licence or registration from/by the SC may, if convicted be liable to a fine not exceeding RM10 million or imprisonment not exceeding ten years or both."
This part sounds scary though
Krv23490
post May 19 2020, 09:50 PM

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QUOTE(mr_tuzki @ May 19 2020, 09:43 PM)
"Any person carrying out regulated activity in Malaysia without a licence or registration from/by the SC may, if convicted be liable to a fine not exceeding RM10 million or imprisonment not exceeding ten years or both."
This part sounds scary though
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yeah , i would be more worried if i was a forex trader , and as we know, there are plenty of them out there, just look at those facebook gurus and ads. Wouldnt be too worried if just trading other financial instruments suck as stocks,futures, options etc
dwRK
post May 19 2020, 11:08 PM

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QUOTE(Krv23490 @ May 19 2020, 09:50 PM)
yeah , i would be more worried if i was a forex trader , and as we know, there are plenty of them out there, just look at those facebook gurus and ads. Wouldnt be too worried if just trading other financial instruments suck as stocks,futures, options etc
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if they wanna whack you... they whack you on licensing... not what you trade
yellowflashdude
post May 19 2020, 11:24 PM

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QUOTE(Ramjade @ May 19 2020, 03:23 PM)
I will suggest trading212. Cheaper and better.
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Isn't trading212 only for CFDs?


This post has been edited by yellowflashdude: May 19 2020, 11:28 PM
Krv23490
post May 19 2020, 11:26 PM

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QUOTE(dwRK @ May 19 2020, 11:08 PM)
if they wanna whack you... they whack you on licensing... not what you trade
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i wouldn't be too concerned
Ramjade
post May 20 2020, 12:13 AM

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QUOTE(yellowflashdude @ May 19 2020, 11:24 PM)
Isn't trading212 only for CFDs?
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Yes and no. They have stocks and cfd. Just use the stocks section and avoid the CFD.
dwRK
post May 20 2020, 08:40 AM

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QUOTE(Krv23490 @ May 19 2020, 11:26 PM)
i wouldn't be too concerned
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you said you'd be more concerned trading forex... wink.gif

imho no problem trading forex on the right platform
Lakeambience
post May 20 2020, 10:51 AM

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QUOTE(roarus @ May 17 2020, 11:49 AM)
There's a chance it may not work, you may still try it out for the benefit of everyone with a small amount  rclxms.gif

This is what shows up in my SG bank for Instarem and BigPay transfer:
i. Intarem
Inward FAST -
NSTAPTE3, OTHR-<MY NAME>XXXXXXXX<SEEMINGLY RANDOM ALPHANUMERICS>

ii. BigPay
Giro Credit from TikFx Singapore
BECH-<SEEMINGLY RANDOM ALPHANUMERICS>

For BigPay my name is not visible in the inward transfer. Another thing is that in BigPay there's no place to include transfer remarks to enter IBKR account number/name.
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user posted image

Tried it with 2 SGD and it works and appears after 2 working days.

There is no reference field to be keyed in during the transaction but somehow it gets deposited. Refer to my transfer receipt below.

user posted image

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