Welcome Guest ( Log In | Register )

427 Pages « < 56 57 58 59 60 > » Bottom

Outline · [ Standard ] · Linear+

 Interactive Brokers (IBKR), IBKR users, welcome!

views
     
TSmoosset
post Jun 1 2020, 05:10 PM

Regular
******
Senior Member
1,917 posts

Joined: Sep 2012
QUOTE(LostAndFound @ Jun 1 2020, 05:03 PM)
Thanks, you're using CIMB SG or MBB SG?
*
I think you're confused. He didn't transfer a bank. He transferred straight to IBKR!
LostAndFound
post Jun 1 2020, 05:16 PM

Look at all my stars!!
*******
Senior Member
6,261 posts

Joined: Jul 2005
From: UEP Subang Jaya



QUOTE(moosset @ Jun 1 2020, 05:10 PM)
I think you're confused. He didn't transfer a bank. He transferred straight to IBKR!
*
Oh! Wow. Okay time to open all these accounts and test myself.
Kate_CSH P
post Jun 1 2020, 06:16 PM

New Member
*
Probation
2 posts

Joined: May 2020
QUOTE(moosset @ Jun 1 2020, 01:05 AM)
You opened IBKR first without going through TSG, right? If it says different entities, then you need to re-do everything, ie go through TSG website to open an account with IBKR. They will redirect you to an IBKR website.

If it says different entities, it means you can't link your ibkr to TSG. You've opened a different IBKR, not the one approved by TSG. 
I tried last Friday, will report my findings later this week.
Use transferwise.
It's nice that you called the hotline to confirm ....  thumbsup.gif

but I just want to say that, most if not all of us here are not working in a bank. What we posted here is what we have experienced, regardless of what a website, a customer service officer or a bank officer may say. Most of the time, when it comes to very specific questions that are not written black and white on the internet, I find internet users are more reliable because they have been through the process, whereas the customer support would usually be MCC mong cha cha.

Sometimes you see things like, "You're supposed to do/have A, B, C, ......" and even so, ppl went through without doing or having A, B, C.
Another example, IBKR doesn't encourage us to transfer money using fintech and yet we still do it. One guy even did it with BigPay.  thumbsup.gif

so you can understand sometimes ppl feel tired explaining. Sometimes I said something, then someone said, not written on the website. Then I've to play the sure-win card, "I talked to ibkr and they told me so!"  laugh.gif It's ok once in a while but sometimes I feel like giving up. Let them explore themselves.

Anyway, if you have other questions, feel free to post them here. We'll reply based on our experience.
1) Means your documents need to be certified by a notary public, but I don't remember going through this step.

2) I don't understand your question, what pump in fund???
Must deposit to activate the acc la.... can't open it and let it have zero balance for 10 years right?
The base currency doesn't matter. You can deposit in any international currencies.
*
Thank you for your kind info. Perhaps my question confusing, I just get reply from tradestation support that I can fund it after my account is completely approved. Hopefully can get the account open by this week at soonest biggrin.gif
Ramjade
post Jun 1 2020, 07:15 PM

20k VIP Club
*********
All Stars
24,335 posts

Joined: Feb 2011


QUOTE(encikbuta @ Jun 1 2020, 10:21 AM)
Thank you ramjade! Looks like with a heavy heart, I might just have to open the CIMB SG Account.

I did see moosset is experimenting on withdrawing straight from IBKR to MY bank via TransferWise. maybe i'll wait and see, haha.
*
No need open SG bank account. Don't waste your money. Just donate free money to banks. Of course banks will be telling you thank you but without any show of appreciation biggrin.gif biggrin.gif

Anyway my money overseas is one way ticket. I won't bring money back to malaysia.
joeblow
post Jun 1 2020, 09:20 PM

Regular
******
Senior Member
1,144 posts

Joined: Dec 2015


QUOTE(Ramjade @ Jun 1 2020, 07:15 PM)
No need open SG bank account. Don't waste your money. Just donate free money to banks. Of course banks will be telling you thank you but without any show of appreciation  biggrin.gif  biggrin.gif

Anyway my money overseas is one way ticket. I won't bring money back to malaysia.
*
Hmm... eventually if you retire you also don't bring the money back to Malaysia? ie unless you plan to retire in other countries.

On a side note, anyone knows what to do with spare cash in IB to maximize the value? Yet flexible enough to withdraw and buy shares. Currently I am all pure cash sitting in my IB account...
Ramjade
post Jun 1 2020, 09:25 PM

20k VIP Club
*********
All Stars
24,335 posts

Joined: Feb 2011


QUOTE(joeblow @ Jun 1 2020, 09:20 PM)
Hmm... eventually if you retire you also don't bring the money back to Malaysia? ie unless you plan to retire in other countries.

On a side note, anyone knows what to do with spare cash in IB to maximize the value? Yet flexible enough to withdraw and buy shares. Currently I am all pure cash sitting in my IB account...
*
Nope because if I bring back RM it will depreciate. Just use my EPF.

Forget about using IB to get a extra money. The most you can do is buy a money market fund.

For me I keep in CIMB fastsaver.
encikbuta
post Jun 1 2020, 09:27 PM

Getting Started
**
Junior Member
275 posts

Joined: May 2020
From: Kuala Lumpur


QUOTE(Ramjade @ Jun 1 2020, 07:15 PM)
Anyway my money overseas is one way ticket. I won't bring money back to malaysia.
*
oh wow, i'm interested!

what's your game plan? planning to move overseas in the future?
Ramjade
post Jun 1 2020, 09:29 PM

20k VIP Club
*********
All Stars
24,335 posts

Joined: Feb 2011


QUOTE(encikbuta @ Jun 1 2020, 09:27 PM)
oh wow, i'm interested!

what's your game plan? planning to move overseas in the future?
*
Use EPF Malaysian expenses.
Use overseas money to finance my kids education.
joeblow
post Jun 1 2020, 09:40 PM

Regular
******
Senior Member
1,144 posts

Joined: Dec 2015


QUOTE(Ramjade @ Jun 1 2020, 09:25 PM)
Nope because if I bring back RM it will depreciate. Just use my EPF.

Forget about using IB to get a extra money. The most you can do is buy a money market fund.

For me I keep in CIMB fastsaver.
*
Buying money market fund... do you have any to recommend? If got charges, then this option might not be good since I plan to use the cash to buy when there's a good opportunity.

Hmm... putting in CIMB SG account means very little interest rate. I guess it really depends if your living lifestyle and retirement planning. For me I just plan to move everything back to Malaysia.
Ramjade
post Jun 1 2020, 10:15 PM

20k VIP Club
*********
All Stars
24,335 posts

Joined: Feb 2011


QUOTE(joeblow @ Jun 1 2020, 09:40 PM)
Buying money market fund... do you have any to recommend? If got charges, then this option might not be good since I plan to use the cash to buy when there's a good opportunity.

Hmm... putting in CIMB SG account means very little interest rate. I guess it really depends if your living lifestyle and retirement planning. For me I just plan to move everything back to Malaysia.
*
If you want to invest overseas you have to bear the low interest rate as all develop countries follow US rate and currently US is zero. So 1% is considered high. Sad but fact. sad.gif

No I am not sure about those MMF available on IB.
TSmoosset
post Jun 2 2020, 01:45 AM

Regular
******
Senior Member
1,917 posts

Joined: Sep 2012
QUOTE(MNet @ May 31 2020, 08:25 PM)
Can we withdraw from IBKR to TW then to MY bank?
*
I managed to withdraw from IBKR to TW Borderless account!! rclxm9.gif
TSmoosset
post Jun 2 2020, 02:27 AM

Regular
******
Senior Member
1,917 posts

Joined: Sep 2012
Why you should get Transferwise?

Transferwise is a Fintech (financial technology) company that offers cheap cross-border money transfer, like InstaRem, MoneyMatch, Revolut etc. In addition to highly competitive exchange rates (at the moment, it has the best rate among these fintech companies), ITS MAIN SELLING POINT is that, it provides you with virtual bank account details - they call it the Borderless account.

With Borderless accounts, you have your own bank account details for USD, GBP, EUR, AUD, PLN, SGD and NZD. You can use these account details to accept payment from third parties. For example, I can give my GBP account details to someone in the UK to pay me in GBP, or my SGD account details to someone in SG to pay me in SGD.

To sign up for TW: FREE
Accept payment via Borderless account: FREE

» Click to show Spoiler - click again to hide... «


I can assure you, TW offers very competitive rates.
At the point of writing, €1,000 gives RM 4774.65.
versus InstaRem, €1,000 gives 4763.94.
What about banks?? Hmm, I'm not sure but .... good luck! laugh.gif


Debit mastercard: FREE (only for those residing overseas). Perfect for when you're travelling abroad!

» Click to show Spoiler - click again to hide... «


This post has been edited by moosset: Jun 7 2020, 08:33 PM
Ramjade
post Jun 2 2020, 05:02 AM

20k VIP Club
*********
All Stars
24,335 posts

Joined: Feb 2011


QUOTE(moosset @ Jun 2 2020, 01:45 AM)
I managed to withdraw from IBKR to TW Borderless account!!  rclxm9.gif
*
TW borderless account does not have interesr tongue.gif
SUSMNet
post Jun 2 2020, 09:30 AM

10k Club
********
All Stars
11,954 posts

Joined: May 2007



QUOTE(moosset @ Jun 2 2020, 01:45 AM)
I managed to withdraw from IBKR to TW Borderless account!!  rclxm9.gif
*
IBKR u withdraw USD and transfer to TW in USD?

TSmoosset
post Jun 2 2020, 12:19 PM

Regular
******
Senior Member
1,917 posts

Joined: Sep 2012
QUOTE(Ramjade @ Jun 2 2020, 05:02 AM)
TW borderless account does not have interesr tongue.gif
*
beggars can't be choosers. tongue.gif

QUOTE(MNet @ Jun 2 2020, 09:30 AM)
IBKR u withdraw USD and transfer to TW in USD?
*
I withdrew EUR from IBKR to TW Borderless acc (EUR).
zenquix
post Jun 2 2020, 03:30 PM

Life is short!
*******
Senior Member
2,552 posts

Joined: Jan 2008


QUOTE(moosset @ Jun 2 2020, 12:19 PM)
beggars can't be choosers.  tongue.gif
I withdrew EUR from IBKR to TW Borderless acc (EUR).
*
why not SGD? considering IBKR forex rate so good i would have transfered in SGD to TW as SGD/MYR still can get competitive rates.
TSmoosset
post Jun 2 2020, 04:32 PM

Regular
******
Senior Member
1,917 posts

Joined: Sep 2012
QUOTE(zenquix @ Jun 2 2020, 03:30 PM)
why not SGD? considering IBKR forex rate so good i would have transfered in SGD to TW as SGD/MYR still can get competitive rates.
*
Because my currency was in EUR and I wasn't bringing money back to M'sia.
IBKR (EUR) >>> TW (EUR)

You can of course choose SGD as a transit to bring your money back.
IBKR (EUR) >>> TW (SGD) >>> Malaysian bank (MYR)

Anyway, the whole point was to check if TW can be a transit or a storage for our money from IBKR and it works! biggrin.gif




zenquix
post Jun 2 2020, 04:37 PM

Life is short!
*******
Senior Member
2,552 posts

Joined: Jan 2008


QUOTE(moosset @ Jun 2 2020, 04:32 PM)
Because my currency was in EUR and I wasn't bringing money back to M'sia.
IBKR (EUR) >>> TW (EUR)

You can of course choose SGD as a transit to bring your money back.
IBKR (EUR) >>> TW (SGD) >>> Malaysian bank (MYR)

Anyway, the whole point was to check if TW can be a transit or a storage for our money from IBKR and it works!  biggrin.gif
*
considering the spread, thank you for your sacrifice.
dwRK
post Jun 2 2020, 04:57 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006


QUOTE(moosset @ Jun 2 2020, 04:32 PM)
Because my currency was in EUR and I wasn't bringing money back to M'sia.
IBKR (EUR) >>> TW (EUR)

You can of course choose SGD as a transit to bring your money back.
IBKR (EUR) >>> TW (SGD) >>> Malaysian bank (MYR)

Anyway, the whole point was to check if TW can be a transit or a storage for our money from IBKR and it works!  biggrin.gif
*
edited... got my answer

This post has been edited by dwRK: Jun 2 2020, 05:05 PM
dwRK
post Jun 2 2020, 04:59 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006


QUOTE(zenquix @ Jun 2 2020, 04:37 PM)
considering the spread, thank you for your sacrifice.
*
he gonna send eur back to ibkr...no spread involved...lol

427 Pages « < 56 57 58 59 60 > » Top
 

Change to:
| Lo-Fi Version
0.0211sec    0.72    6 queries    GZIP Disabled
Time is now: 4th December 2025 - 12:30 PM