good thing Ramjade moved the reply here.

melondance actually the new Wise rates is cheaper if you moved bigger amounts of USD into IBKR

• variable rate dropped from 0.6% to 0.5%
• the fixed rate increased from $0.39 to $1.13

so if the amount u moved is small, you'll feel the pinch from the fixed rate. but if you increase, it'll be cushioned by the 0.1% discount

Takudan wow you are back. i thought you abandoned the excel

--edit--

someone asked me if moneymatch USD remittance was good a while ago. slightly disappointed to realise it's identical to wise (same as your finding)

This post has been edited by Medufsaid: May 13 2024, 12:05 PM

you give me an idea, since MYREUR is cheaper than MYRUSD, why not convert to EUR and send to IBKR for free (same for SGD)? convert to USD for free using recurring investment


i won't be trying this since i have moneymatch

This post has been edited by Medufsaid: May 14 2024, 10:58 AM

bokbokchai do recurring investment. don't convert your EUR. let recurring investment auto convert for you

This post has been edited by Medufsaid: May 14 2024, 11:20 AM

bokbokchai do you know the difference between (shares) commission fee and (currency) conversion fee?

bokbokchai this ETF not in US market

capablanca we open SG bank account and deposit SGD into IBKR. then we convert to USD via 2 ways

• create a recurring investment (we can create a recurring investment that happens only 1 time). IBKR will auto convert SGD to USD for free
• manually convert to USD at a fee of U$2 per U$100k
• if your IBKR is cash acct type, IBKR will auto convert when you do a manual share purchase. 0.03% fee (any investment of <U$6666 will have a fee of U$2 and below. if amt is higher than that, just manually convert, follow the previous option)

This post has been edited by Medufsaid: May 16 2024, 04:44 AM

capablanca i just asked moneymatch. they don't have local bank partners in USA, so expect expensive SWIFT fees. Wise has local US bank so you can do ACH (GIRO) transfer

you previously had a tradestation account which uses IBKR UK as backend?

hedfi IBKR users have 1 FOC withdrawal each month, so this Wise trx should be free. Moomoo SG can link to Wise (hopefully deposit is free)

do note that there seems to be no way to withdraw from Moomoo SG out to Wise for now. And USD convert to SGD in moomoo has a fee of 0.3-0.4%.

No ibkr USD2 per $100k conversion miracle

This post has been edited by Medufsaid: May 18 2024, 09:00 AM

hedfi there doesn't seem to be a way to withdraw SGD out via Wise, only IBKR->USD->Wise

$1.00 is correct

hmm. looking at how IBKR withdraws out to Wise, seems like there is no direct IBKR->Wise method. they have to withdraw out to a local US bank that partners with Wise.

so the same limitation will apply for Moomoo SG which doesn't have any partnership with US banks (all USD in Moomoo SG is parked with DBS)

This post has been edited by Medufsaid: May 18 2024, 12:13 PM

you'll have to learn how to open sg bank acct. head over here first https://forum.lowyat.net/topic/1440794/latest

already told you what needs to be done. who told you to only send S$1?

do u foresee an issue if someone sells their LSE etf to buy US stocks? since LSE will only move to T+1 only 3-4 year later. you might end up with negative cash balance for 1 day

This post has been edited by Medufsaid: May 28 2024, 11:40 AM

daidzz your source of funding is, "salary received as USD" in wise acct? or MYR fpx into Wise

my strategy is to buy USA etfs using recurring investment, then once a year, liquidate that ETF and buy CSPX

Month	Action	Fees
Jan	buy USA etf	$0.35
Feb	buy USA etf	$0.35
Mar	buy USA etf	$0.35 + $0.34 (34 cents because your money in USA etf so additional 15% deduction)
Apr	buy USA etf	$0.35
May	buy USA etf	$0.35
Jun	buy USA etf	$0.35 + $0.68 (you have twice as much money now)
Jul	buy USA etf	$0.35
Aug	buy USA etf	$0.35
Sep	buy USA etf	$0.35 + $1.02
Oct	buy USA etf	$0.35
Nov	buy USA etf	$0.35
Dec	buy USA etf (we'll do double work to utilise the free conversion fees of recurring investment) sell USA etf & buy LSE etf	$0.35 $0.35 + $1.91
	Total fees	$8.50

buying purely LSE will cost you $20.40 yearly. the difference is only $11.90 or RM55.93. use this to calculate in excel

	A	B	C
1	Amount	Tiered	Fixed
2	<<Enter your amount here>>	=min(max(1.7, A2 * 0.0005),39)+max(0.13, A2 * 0.000045)+0.08	=max(4, A2 * 0.0005)

This post has been edited by Medufsaid: May 12 2025, 09:11 AM

• every 3 months, you have fresh deposits into $IVV worth RM3,000. that's $637.21
• $637.21 will buy you 1.2129 shares of $IVV
• assuming dividend of $1.90 per share that's $2.304 in dividend https://www.nasdaq.com/market-activity/etf/...ividend-history
• 15% of $2.304 is $0.345. this is the extra amt you pay bcos you are in USA etf with 30% WHT

after 6 months you have RM6k, 9 months RM9k and so onyes

TOS you are on cash account? it won't work for margin acct

TOS i take their reports with a pinch of salt sometimes. nowadays i replicate my trades in excel in case they decide to swallow some money/shares from meforex still at T+2 raises interesting questions though. for those who're doing recurring investment for US shares

This post has been edited by Medufsaid: Jun 15 2024, 09:41 AM