Few years back I did a TT it was about 5 days. That was 5 years ago. I don't think it take 24h. Cause
1. Need to clear maybank
2. Need to clear intermediate bank
3. Need to clear with interactive broker.

Clearing process takes time.

This post has been edited by Ramjade: Apr 30 2020, 11:24 PM

Well only way to test it. Things may have change alot since I last used banks.

Well if you like giving free money to banks. Be my guest. Is your money. Not mine.
Recurrent transfer = recurrent free money to banks = less money for you to invest in. Over the long time it all adds up. Imagine losing few hundred ringgit every time you choose to use a bank. Cost is something you can control. Of course if the few hundred ringgit is small change to you/peanut, then by all means go ahead. I know I won't give banks the few hundred ringgit.

Now you don't even need to travel to Singapore to open an account.

Well time for you to learn how to open SG bank account unless you like giving free money to banks
The answer to your question can be found inside
https://forum.lowyat.net/topic/1440794

This post has been edited by Ramjade: May 1 2020, 11:51 AM

1. Can. Just like how you do a US local transfer. They won't ask for proof. If somehow they want proof just give them bank statement.
2. Nominee.
3. Way cheaper than TD, TD cost like USD10.xx, IB only cost USD1.xx, you get spot exchange rate, you get access to plenty of market. TD only have US market. If you want to give free money to TD, by all means
4. No. Cause you will be using IB. Login, deposit money, transfer money buy and sell all in IB. Don't know in US, UK. Don't care.

Yes. That's the correct website. Contact their customer service via email and you have the answer. Yes it's zero inactivity fees.
I don't know what broker account structure. Keep it simple. Sign up on Tradestation global page. They will give you a username and password or you set it up yourself (can't remember). Complete the sign up and fund the account. My time was USD5k, I don't know what's the latest amount currently so check with them, read the FAQ.

After funding use the username and password to login to Interactive broker webpage. You can forget about tradestation global from this point onwards. You won't deal with them at all other than opening account. From now you deal directly with interactive broker. Customer service, funding, withdrawing, buying and selling everything. Understand.

Yes can buy US ETF. Unit trust I don't know and don't care. Never used it.

IB client portal, IB webtrader, tws. Tws only for conversion of currency.

1. Yes. What do you mean owns elf buying and selling? Of course is owns elf buying and selling unless you give people your username and password.

2. For now USD transfer does not work. EUR works. Not sure about currency.

3. Can. You pay higher cost that's all. Some say worth it to pay higher cost. Save all the hassle of opening abc account. But when you re doing it recurrently over time it adds up. Eg you are supposed to received RM10k but because you usse banks, maybe you received only rm9800.That's RM200 gone to the bank. That's just one time. Eveytime you direct transfer to Malaysia, that's what happen. Something to think about. So up to you to think if you want to give banks free money. I know I don't. Instarem cannot received money. It's purpose is only to transfer money to an overseas bank account at a cheaper rate than what bank charge you so you get more foreign currency/RM vs if you use banks.

4. Yes. You register with Whitelabels.Then you login to interactive broker using the username and password provided. Funding all goes into IBKR.

Kindly read first page.

1. If you are using pure IB, transaction is only few cents/transaction . How are you going to reach usd10/month commision unless
i) You trade a lot
ii)You are big shot which trade few million each time.

2. You pay the using fpx. Then usually they contact their overseas partner/bank to bank in the money into the account that you provided. The money never leave Malaysia.
Eg. You want to tranafer EUR. My bank-> instarem my. Instarem my calls instarem euro to bank money in into IB EUR account.

Eg if you are using maybank
Maybank -> abc bank -> xyz bank -> interactive EUR bank account.
Because it involves one or multiple intermediate bank, rates are high = more expensive.

About sgd, kindly read first page. You didn't read first page did you?

3. Open a Whitelabel of your choice worldwide IB. Once opened, go to IB website and login to the website ciet portal. From inside client portal, click transfer fund and set it up. You don't need a US bank account. IB will provided you with their US bank account but it's a virtual one specific only to you. Everyone will get a virtual bank account with different account numbers. Depending on which currency you want to deposit in, a virtual bank account by IB will be created for you.

That's why I said you need to open an account then you will know. It's difficult to explain without you having an account.

That USD1k involve your stocks holdings. So if you suka2 open and do not buy anything then yes need to maintain.

If you have stocks holdings inside no need thr cash. Of value must be > USD1k.

YouTube it. Plenty of guide online.

Use tiered mode. Tiered is always cheaper than fixed if you are using pure IB

Normal. They redirect you to the nearest place using your ip address

Follow the method below and use 2 screen/2 laptop. One for live data. One for trading. Problem solved.

No need. Use other sites for live data.

They can but IB won't accept USD from third party(so if you transfer USD, it's still going to get rejected by IB)
Read first page. IB only accept currency like SGD, HKD, EUR. So if you want USD you need an intermediate currency.

This post has been edited by Ramjade: May 14 2020, 04:52 PM

Form what I read can. But you need to sell think about bringing money back to Malaysia too if you really want to bring.

IB-> CIMB SG ->CIMB MY is one of thr cheapest way vs IB -> Malaysian banks

So your choice.

Because maybank not cheap if compare with Cimb
2ndly maybank got charges while Cimb is free.

This is only applicable for Cimb SG only not Cimb My.

Go with tradestation global.

Then open a pure IB account. (new username and password). Fund it. Login. PM them from client portal telling them you want to transfer in.

This post has been edited by Ramjade: May 15 2020, 08:07 PM

Kindly read first page of this thread