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 Interactive Brokers (IBKR), IBKR users, welcome!

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SUSTOS
post Jul 20 2021, 11:05 AM

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QUOTE(polarzbearz @ Jul 20 2021, 10:59 AM)
My account delinking is completed finally. They also dropped me a message yesterday and closed the ticket that I have raised for the delinking request.
Timeline:
Saturday, 10th Jul 0100: Sent completed form to TSG, cc IBKR, with ticket lodged
Monday, 12th Jul 2200: Email received from IB on verbal verification requirement
Tuesday, 13th Jul 0030: Completed verbal verification by calling the Hong Kong number
Saturday, 17th Jul 0430: IBKR "unlocked" with IBKR Pricing Tier, US Fractional Shares checkbox, and Refer a Friend functionality. 
Monday, 19th Jul 1502: Received message from IBKR indicating the completion of my account de-linking process.
Tuesday, 20th Jul 1000: Verified Trade Confirmation Reports for 19th July and confirmed that TradeStation International Ltd is no longer reflecting in my account statements.

user posted image

user posted image
TradeStation International Ltd is always linked to IBKR UK. Hence after de-linking you will still be with IBKR UK. If you want, you can register in other entities (subject to their approval) and request for internal transfer. Not sure about the exact process but from FAQs these are some relevant info:this and this
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So we are affiliated with IBKR UK. Need to study UK tax law now lol biggrin.gif Is there estate tax for foreigners in UK?
SUSTOS
post Jul 21 2021, 08:39 AM

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QUOTE(jas029 @ Jul 20 2021, 11:38 PM)
would like to share my de-link process as well..

submitted the request by email to ibkr on 13/07.. there were no news/email/notification whatsoever thereafter.. though i did noticed the appearance of ibkr pro logo, refer friend link and option for tiered commission.. however my statement still showed TSG as master name..

hit up live chat this afternoon.. and u've guessed it, the representative confirmed my de-link was successful.. and informed that the master name of TSG will be gone by next week (as they're refreshing this and process new de-link once a week friday).. i've enquired as well why there was no request for verbal verification for my account.. the reply was that my signature on the de-link form matched that in their record.. so i guess those who was requested for verbal verification might have deviate their signature on the form away from their passport signature (or any other signed document submitted during their initial account opening step)?

anywhere, that's all.. hope it'll bring more clarity
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Indeed my signatures for the 2 documents are different. (Passport and de-link form, I changed my signature some time after getting my passport) I can confirm this.

This post has been edited by TOS: Jul 21 2021, 08:44 AM
SUSTOS
post Jul 21 2021, 09:05 AM

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IBKR pro logo now appears on my TWS.

user posted image
SUSTOS
post Jul 21 2021, 12:01 PM

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QUOTE(markedestiny @ Jul 21 2021, 10:53 AM)
When I was still with TSG, the mobile app was already showing IBKR Pro, so I don't think this could be used as confirmation of successful delinking.

The most obvious sign of successful delinking is the appearance of the apple green referral tab on the IBKR mobile app.
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I don't use mobile app, so I don't know about mobile app's interface. But I am certain that before this, desktop TWS software never shows me the IBKR pro logo, only the middle part says "Interactive Broker", which is not changed before and after de-linking I guess.
SUSTOS
post Jul 21 2021, 12:06 PM

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Finally, login to web portal, IB logo and "refer a friend, get 200" message displayed! This logo also appeared.

user posted image

Also can choose fix/tier pricing

user posted image

Master name is still Tradestation International Ltd however, in the 20th July report. Maybe this is newly updated today.


This post has been edited by TOS: Jul 21 2021, 12:12 PM
SUSTOS
post Jul 21 2021, 12:31 PM

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Ok, for SG investors, I try "theoretical buying" up to the preview message and I can confirm the commission has dropped to 2.50 SGD per trade. This is in fixed pricing. I have applied to change to tiered pricing and will check the commission later.

user posted image

This post has been edited by TOS: Jul 21 2021, 02:23 PM
SUSTOS
post Jul 21 2021, 09:09 PM

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IB's iBot can display corporate action stuff like earnings release schedule too. Pretty neat stuff compared to TSG.

user posted image

For those who use TWS desktop previously with TSG, you may want to uninstall it and install a newer, updated version from IB's website itself. This would be pure IB's software. it's more updated than TSG's website version. I remember TSG's TWS software is last updated around September 2020, but pure IB's website offers version (even the stable one) as recent as June-July 2021, so that might correct for bug fixes and perhaps some new feature additions.

https://www.interactivebrokers.com/en/index...99#tws-software

This post has been edited by TOS: Jul 21 2021, 09:20 PM
SUSTOS
post Jul 21 2021, 09:14 PM

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QUOTE(Takudan @ Jul 21 2021, 09:13 PM)
I just checked that I'm now IBKR Pro, and I was able to enable fractional shares. Problem is when I switch between fixed and tiered pricing, I tried previewing a buy order to compare, but I kept seeing 1usd commission in both settings. Does it take time to take effect, or what did I miss?
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Ya it takes some time. I think one day (24 hours) or so, if you read the description during the switch.
SUSTOS
post Jul 21 2021, 11:09 PM

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QUOTE(dark_elvin @ Jul 21 2021, 10:31 PM)
Fractional shares in IB only available to US share market? Is it available to other share market like HK?
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Only US market and for selected stocks only.

https://www.interactivebrokers.com/lib/csto...icleId=83261303

Excel link for full list of eligible stocks for fractional trading: http://www.ibkr.com/download/fracshare_stk.csv
SUSTOS
post Jul 22 2021, 05:12 PM

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QUOTE(TOS @ Jul 21 2021, 12:31 PM)
Ok, for SG investors, I try "theoretical buying" up to the preview message and I can confirm the commission has dropped to 2.50 SGD per trade. This is in fixed pricing. I have applied to change to tiered pricing and will check the commission later.

user posted image
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Ok, switched to tiered and can confirm that tiered is more expensive than fixed, for SGX market.

Some screenshots from tiered pricing. Notice commission changes from counter to counter due to exchange fee calculated as a percentage of trade value. In the fixed pricing case, it is always 2.50 SGD regardless of amount purchased add irrespective of counter/REITs/trusts.

user posted image

user posted image

So, if you have (or intend to have) larger stakes in SGX counters and REITs/Trusts, you may want fixed pricing for pure IB, otherwise stick to tiered if you have (or intend to have) larger stakes in US/HK/UK.

Take note that the change will take around 24 hours to take effect (unless you submit your change request after 16:00 ET). So you cannot switch to fixed/tiered pricing and buy/sell immediately.

QUOTE
(Requests submitted on a business day prior to 16:00 ET will be processed for the next business day.)


Always check the commission in the "Order Confirmation" dialog box before continuing with your transaction.

I will have to switch back to fixed pricing... blush.gif

This post has been edited by TOS: Jul 22 2021, 05:19 PM
SUSTOS
post Jul 22 2021, 05:22 PM

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QUOTE(TOS @ Jul 21 2021, 12:06 PM)
Finally, login to web portal, IB logo and "refer a friend, get 200" message displayed! This logo also appeared.

user posted image

Also can choose fix/tier pricing

user posted image

Master name is still Tradestation International Ltd however, in the 20th July report. Maybe this is newly updated today.
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Master name is still Tradestation International Ltd in 21th July report... But commission rate already dropped to IB pro's 2.50 SGD ++ per trade, not TSG's 3.75 SGD per trade anymore.
SUSTOS
post Jul 22 2021, 06:54 PM

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QUOTE(Ramjade @ Jul 22 2021, 06:38 PM)
One of them. BIP or BEP. Not sure which is tax free. Forget already as I researched last time. Now I don't even bother got dividend tax or not. Cause got dividend tax or no tax now makes no difference to me. (I don't depend on dividends anymore but make my own dividends by selling options). This allow me to invest in any companies even those without dividends.

You want good US REIT recommendation
WPC (us)
Keppel KBS REIT (sg)
Prime REIT (sg)
United hamisphere REIT (sg) or Slate grocery REIT (ca)
Prologis (us)

REIT like
CKI HK
CLP HK
TRG plc or Jlen plc (UK)
Fortis (Ca)
CN (Ca but listed on US)
Bro, don't waste time and money anymore in sg market. Sincere advise from someone been there and done that.
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Appreciate your advice sifu, as always.smile.gif But I will not join US market until I fully understand their trading route and system. (Think about this: how much do you know about dark pools? What is the difference between IBKR pro and lite's trading route? Have you fully understood the SMART routing?) I, however, as said earlier, agree with you on selected large-cap monopolies and leaders in their fields, the Big Tech, Big Pharma, Big Cards, etc.

Also, if you already have substantial stake in PNB's ASNB, EPF, investing more in US will be redundant since your effective holdings in many "Big xxx" counters will increase more than that as PNB/EPF already own some stakes in those counters.

I am planning to work in SG in the future, let me spend more time there and fully familiarize with their market. The expected return from SG counters (good ones) are sufficient to compensate for the risk I take there. I also have friends from SG to provide me with "insider info" and guidance.

Don't try to make people follow you always ok. tongue.gif Learn to appreciate diversity, it's not like I like to fry penny stocks... Value shares have their reasons of existence.

Oh, and please consider using the term "risk premium" instead of options "dividend", if you will. sweat.gif

This post has been edited by TOS: Jul 22 2021, 06:57 PM
SUSTOS
post Jul 22 2021, 08:07 PM

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QUOTE(Ramjade @ Jul 22 2021, 07:23 PM)
Sg market manipulation is even worse than US. Don't bother with dark pool if you are long term holder. Why should I bother if I am buying and holding it? Does it make a difference to me if the price in dark pool is cheaper than me by say 0.001 cent? I queue at what price I want and sometimes Ibkr filled at a cheaper price. Routing of Ibkr is basically though different exchanges. You can select on your own or use smart. If you select on your own you can save some money. But might take slower time to execute.

Never trade on insider news. I never have and never depend on it. And no I don't trade of you are asking. I am a buy and hold guy. Like I said why bother with 6% dividend p.a and basically no growth? Go look at sti30 Vs s&p500. Where is it after 10 years?

Your call. It's your money not mine. I have taken action with my own money as I love to make it work harder Vs staying lazy and unproductive in sg. There are better quality value stocks in US.

I still considered it DIY dividends. Same thing. Its money coming into my own account that I DIY instead of depending on companies. Doesn't matter how the money comes in like the saying goes as long as it's a cat which can catch mouse, it's a good cat. Doesn't matter it's black cat, white cat or brown cat. End of the day it's still money coming into my bank account.
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I see no harm understanding routing and clearing procedures. US with so many exchanges, ECNs and market specialists, theirs are more complicated than SG. Counterparty risk and regulatory risk, remember. The other party might get you into trouble. You are right if the price difference is small, but I don't think the difference is as small as 0.001 cent unless I trade on OTC pink and penny stocks, which I won't.

By insider news I mean cases like my friend knows a tenant who rent with Ascendas REIT (he is a scientist at a government agency in one-north) and he claims the rental is inelastic, not much negotiation power, so that tells me where A-REIT's pricing power lies in the market. I don't trade on insider news either. Buy and hold like you.

Can we agree that iFAST, Nanofilm is not included in the STI, ok? tongue.gif I have no doubts on S&P vs STI, but S&P vs a basket of selected growth and value shares in SG, comprises of something different, they might be comparable.

Yes, yes my call... I can always go into US market when I am ready. Dividends and risk premiums aren't really the same, but well... "Doesn't matter how the money comes in" sweat.gif

Let's end here, shall we? This is IBKR's thread...

This post has been edited by TOS: Jul 22 2021, 08:10 PM
SUSTOS
post Jul 23 2021, 05:04 PM

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QUOTE(Fortezan @ Jul 23 2021, 02:44 PM)
I see most of you got your delinking request processed quite fast. This is what I get after reaching out to TSG again when there's no update more than 3 days:

"After submitting the signed document, it usually takes 2 weeks for accounts to be unlinked. Therefore I ask for your patience."
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Maybe your are the lucky ones like tadashi who need not go through the verbal verification process. biggrin.gif

Is your signature the same as the passport signature?

Just login daily to IBKR/TSG and check if there is any changes in the interface and layout, that would be one way of checking progress.

22/7 report still shows I am tied to TSG (TradeStation International Ltd).

This post has been edited by TOS: Jul 23 2021, 05:14 PM
SUSTOS
post Jul 24 2021, 09:42 AM

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QUOTE(tadashi987 @ Jul 24 2021, 08:49 AM)
user posted image
acc report changed to under IBKR after a week post delinked from TSG  biggrin.gif
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Me too biggrin.gif

user posted image

So my timeline is as follow:

July 14th: Start emailing TSG and IBKD the delink form, also pulled ticket on IB's web portal.
July 15th: IB reply on web portal they need ne to refer back to TSG around afternoon, IB's email auto-reply that my email looks like "spam" around night time (MY time)
July 16th: Email TSG via email in the morning to request them to help forward de-link form to IB, in subsequent email they request passport copy as well. By night time, around 8 p.m. (My time), I receive verbal verification request from IB. Shortly after receiving the verbal verification request, I call them via Skype (US toll free number) Verification done on the same day.
July 21th: Start seeing IBKR pro logo appearing on my TWS desktop in the morning, refer friend and get 200 + IBKR pro logo appear on web portal, able to choose fixed/tier pricing, default is on fixed pricing. Notice commission dropped compared to TSG. Have not executed any trade yet.
July 22nd: Jul 21th report still shows linked to TSG (master name).
July 23rd: July 22nd report still shows liked to TSG (master name).
July 24th: July 22nd report finally showed linkage with IB (no more "master name" column), not sure why it is not July 23rd's report, but it is unavailable at the moment, perhaps only updated in the afternoon.





This post has been edited by TOS: Jul 24 2021, 10:01 AM
SUSTOS
post Jul 24 2021, 03:22 PM

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QUOTE(singkalan @ Jul 24 2021, 02:53 PM)
Interesting, mine just changed as well. The only thing is I haven't call them for verbal verification yet even though they requested me to do so, but I can see the pro logo and "Refer a friend", account type also changed to "Individual" in the activity statement.
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Oh this is funny. I think you better perform the verbal verification as requested and don't assume that you can "bypass" that step. Otherwise don't know what might happen to your account in the future. Don't take unnecessary risk. Skype call to US toll-free is free of charge after all, just need to spend some time.
SUSTOS
post Jul 24 2021, 05:21 PM

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QUOTE(markedestiny @ Jul 24 2021, 04:54 PM)
Why do you need to call when they didn't put in the request officially via email?

My account has been delinked without verbal verification. There's no further email from Ibkr but if they do send me an email asking to verify,  I'd gladly do so.
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Read carefully tongue.gif

QUOTE(singkalan @ Jul 24 2021, 02:53 PM)
Interesting, mine just changed as well. The only thing is I haven't call them for verbal verification yet even though they requested me to do so, but I can see the pro logo and "Refer a friend", account type also changed to "Individual" in the activity statement.
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In his case, IB asked him to verify verbally. But he had not, yet his IB web portal already showed signs that the delink process is underway.

I am well aware of the fact that verbal verification has become "unnecessary", as tadashi observed, seems like many are not getting that verbal verification email lately. Pioneers always have extra steps to do laugh.gif
SUSTOS
post Jul 24 2021, 07:25 PM

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QUOTE(markedestiny @ Jul 24 2021, 07:02 PM)
I'm not sure why you still insist on getting verified verbally when ibkr didn't send you that email.

After receiving confirmation from Ibkr that they have received my application, they also informed me that they will send another email to contact me for verbal verification, which they never send subsequently.

Just accept that this step is not necessary if ibkr didn't send you the email.
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lol I mean IBKR sent him that email. Of course if that email is never received, no problem, just ignore that step and wait patiently. Totally agree with you. But if the email is sent and received, my thought is better not to forgo that step to avoid unnecessary issues in the future with your account post-delink.

Just my 2 cents of course.
SUSTOS
post Jul 25 2021, 08:10 PM

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QUOTE(Takudan @ Jul 25 2021, 07:58 PM)
I have questions about dividend reinvestment:

I read that it's free if the company offers such plan, otherwise standard fees apply so....
1. How do I know which company offers and which does not?
2. How is the fee charged? Is it deducted from the share value to be reinvested, or from your cash holding?
3. Continuing Q2 - what if I don't have enough to cover for the fee?

Can I choose to reinvest only for those that offer the plan, so that my shares grow a little for free, and get cash for those which aren't?
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1. Check the exchange's company announcement section. Example:

SGX: https://www.sgx.com/securities/company-announcements
HKEX: https://www.hkexnews.hk/
US exchanges: https://www.sec.gov/edgar.shtml

Usually the company will announce it on the exchange. Otherwise, check the company's IR (investors relations) page from time to time for such updates/announcements.

2. Fee charges is similar to you purchasing shares. It is deducted from cash holdings just like you buy a share via IB. Take note however, minimum fees still apply but this time it is the lesser of the minimum charges stated and the 0.xxx% of trade value.

QUOTE
9. Is the dividend reinvestment subject to a commission charge?

Yes, standard commissions as listed on the IBKR website are applied for the purchase. Please note that the minimum commission charge is the lesser of the stated minimums (USD 1 for the Fixed structure and USD 0.35 for the Tiered structure) or 0.1% of the trade value.


3. You get zero shares, all else paid in cash. No commissions deducted.

QUOTE
12. What happens to cash from dividends that is insufficient to purchase a whole share?

Should the funds be insufficient to purchase a full share of stock, the dividend will be credited to the account in the form of cash. This is true for all accounts, including those with fractional share trading permissions.


https://ibkr.info/article/2730

This post has been edited by TOS: Jul 25 2021, 08:11 PM
SUSTOS
post Jul 25 2021, 08:12 PM

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QUOTE(edwin1002 @ Jul 25 2021, 08:09 PM)
Mean just can withdraw once per month, same as TSG.

IBKR is better than TSG because of no inactivity fee only right?
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And "fractional shares" for selected US shares.

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