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 Interactive Brokers (IBKR), IBKR users, welcome!

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TSmoosset
post Mar 5 2020, 05:58 PM

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QUOTE(GloryKnight @ Mar 5 2020, 04:26 PM)
Okay thanks!

Planning to build a bogleheads 3 fund portfolio, if not just VWRA/IWDA.

Has anyone been able to find out VWRA vs IWDA; which performs better? IWDA? and its lower in costs.
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but they track different indices. One is FTSE world, the other is MSCI world. The components are not the same. How to compare? hmm.gif

TSmoosset
post Mar 7 2020, 12:34 AM

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QUOTE(Ramjade @ Mar 6 2020, 11:57 PM)
Yes, TSG does not accept Singaporeans.
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eh... why so weird??
TSmoosset
post Mar 7 2020, 12:45 AM

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QUOTE(Ramjade @ Mar 7 2020, 12:42 AM)
Singapore govt banned their citizen from using interactive brokers for local stocks but they still can use it to buy overseas stock. My guess is TSG does not want the trouble of compliance to SG govt hence the easier option is to ban them.

Something about to protect their cartel of brokers.
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I see. Thanks for the info.
For once, being a M'sian has an advantage. laugh.gif

Others like TDAmeritrade, Captrader etc also the same? all ban?
TSmoosset
post Mar 10 2020, 09:42 AM

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for those of you with high net asset with IBKR, do you get free live market data?

This post has been edited by moosset: Mar 10 2020, 09:43 AM
TSmoosset
post Mar 13 2020, 07:01 PM

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QUOTE(Yggdrasil @ Mar 13 2020, 06:30 PM)
I just sent EUR direct from Instarem to IBKR.
Instarem says that the money has been sent.
However, IBKR still says pending receipt.
Anyone faced this issue before?
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No worries. It will take some time before IBKR updates their system, usually less than half a day.

The main issue I have is, sometimes InstaRem is a bit slow. I just chatted with them 2 days earlier because one transaction lama2 still processing. Then he said, they made an error. Will rectify it asap.

This post has been edited by moosset: Mar 13 2020, 07:02 PM
TSmoosset
post Mar 14 2020, 12:09 PM

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QUOTE(Yggdrasil @ Mar 14 2020, 11:11 AM)
Won't be rejected.
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you got your money alrd?
TSmoosset
post Mar 18 2020, 08:54 AM

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QUOTE(echoesian @ Mar 18 2020, 12:48 AM)
For Instarem, which currencies give better rate? EUR, SGD or HKD?
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As at now, 1 MYR = 0.2082 EUR or 0.327 SGD or 1.7784 HKD.

so how to compare which is better? hmm.gif

QUOTE(Investor12 @ Mar 18 2020, 01:48 AM)
Hi All

successfully open an account with IBKR and funded using both instarem and transferwise. I transferred HKD.

learning the TWS platform now, so so so complicated and un-user friendly.

anyone here subscript to market data? the data for HK market is so expensive. can please share with me if I plan to do both Mini HSI futures and stock, which data should I subscript to, really confuse
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I disagree. TWS is quite user-friendly already. Anything more than this would make TWS not advance enough.
You want to put all the features in but don't want to see all the buttons? Or you want these buttons to be hidden? Or you rather lose certain features?

most of us are not subscribed to the market data on IBKR.
TSmoosset
post Mar 19 2020, 05:48 PM

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QUOTE(zenquix @ Mar 19 2020, 05:27 PM)
USD -> Transferwise USD -> CIMB MY (MYR)?
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I second this!
TSmoosset
post Mar 19 2020, 06:01 PM

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QUOTE(Yggdrasil @ Mar 19 2020, 05:55 PM)
Hmm but it seems that converting back USD to SGD via IBKR then back to CIMB SG to convert to MYR seems cheaper.
Weird. I'll check again.
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usd to sgd is no doubt cheaper, but SGD to MYR?
TSmoosset
post Mar 19 2020, 06:08 PM

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QUOTE(Yggdrasil @ Mar 19 2020, 06:06 PM)
IBKR is close to XE.com rates correct? I made that assumption.
Then I looked at the rates CIMB SG provided me to convert SGD to MYR and yes there is a saving (quite big difference).
I'll screenshot the numbers when I'm free.
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ah, then good. Even better.

I thought initially you said, CIMB (USD) to CIMB (MYR)? I was confused by your initial post.
TSmoosset
post Mar 19 2020, 06:21 PM

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QUOTE(Yggdrasil @ Mar 19 2020, 06:17 PM)
Yes correct. Because I have a USD account with CIMB SG also. But it seems cannot transfer USD to CIMB MY.
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then that acc got what use? laugh.gif

can transfer usd to IBKR?

This post has been edited by moosset: Mar 19 2020, 06:22 PM
TSmoosset
post Mar 21 2020, 11:03 AM

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QUOTE(Yggdrasil @ Mar 20 2020, 11:56 PM)
moosset I double checked. CIMB SG gave better rates than TransferWise. But maybe it is just a coincidence.
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Good!! Even better!

by the way, how to open the USD acc? I didn't see any options on the cimbclicks.

QUOTE(HolyAssasin4444 @ Mar 21 2020, 01:57 AM)
Hi sifus here, Ikan bills here wanna ask if use whitelabel (Tradestation global) , do I trade on the tws platform itself? Also wanna ask if in the future can I switch to pure IBKR when reach 100k equity to avoid the account monthly fee?
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you can use two platforms once you signed up with TSG.
Either TWS or TSG (only on windows).
TSmoosset
post Mar 21 2020, 11:06 AM

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QUOTE(dkzk86 @ Mar 20 2020, 12:37 PM)
Has anyone successfully withdrawn from IBKR (USD) using Transferwise?

IBKR (USD) - Transferwise - MYR Bank Account

How long does it take for the funds to appear in our Malaysian bank account? I don't have a SG bank account hence I'm looking for a way to bring back some funds.
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I'm not sure how to withdraw USD to transferwise.... because IBKR only transfers to your own bank acc, I think.
but I guess the only way with TW is, IBKR > TW borderless account (USD) > MYR??
but there are charges to withdraw money out of the borderless account, something I despise! mad.gif
Really don't understand why you pay extra charges to withdraw from the borderless account. vmad.gif
TSmoosset
post Mar 21 2020, 07:17 PM

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QUOTE(shenhn @ Mar 21 2020, 06:55 PM)
Hi guys, require some clarification based on your personal experiences.
I am in the midst of preparing to open an IBKR account. As for Malaysians, we can either do Spot currency exchange from SGD to IBKR or deposit USD via digital banks: Transferwise or Revolut?
Your thoughts on digital banks, & their legitimacy, deeply appreciated.
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none of us have managed to deposit USD to IBKR .... fintech or otherwise.

if you made it, please let us know.
TSmoosset
post Mar 21 2020, 07:36 PM

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QUOTE(Ramjade @ Mar 21 2020, 11:25 AM)
You cannot withdraw out USD to transferwise. They already mentioned somewhere in their terms and conditions they don't support transfer or incoming transfer from transferwise.
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Last time, I managed to deposit EUR via Transferwise. I've checked my past transactions. I did it in Dec 2019.

but I never use TW ever since because InstaRem is miles better (except it doesn't have a debit card).

QUOTE(Ramjade @ Mar 21 2020, 11:25 AM)
Of course there are charges. Transferwise needs to survive. Is not a charity body. Again it's clearly mentioned in their fees, there's a charge for moving money out of borderless account. All clear cut and written.

The charges is nothing compare to amount you need to spend to travel to US to open bank account. I use that account for receiving USD from my US cashback shopping.
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Two reasons why I'm unhappy with charges:
1) they already charge a fee when I transfer money into the account (with currency conversion);
2) I've USD in the borderless acc. I converted it to another currency ABC (with a fee). I used the debit card and spent ABC. That's fine! But then when I needed to withdraw ABC currency to a local bank, there was a charge. It'd be cheaper if I had just convert USD and moved it directly to a local bank account in one transaction. Yes, it's written in the T&C, but doesn't mean I'm happy with it.

Anyway, that's all over now. I don't need to deal with similar transactions in the foreseeable future.

but yes, in your case, it's definitely worth the fees since you don't have a local bank acc.
TSmoosset
post Mar 22 2020, 12:47 AM

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QUOTE(shenhn @ Mar 21 2020, 11:18 PM)
How should i go about this as a Malaysian? i read in one of the previous post that, i should get my SG friend to deposit the money to the IBKR address, and through that it will be a spot currency exchange SGD -> USD?
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No friend needed.
Assuming you have CIMB in M'sia, open a CIMB SG (SGD) [please refer to the other thread about opening bank acc in SG].
Transfer money from CIMB M'sia to CIMB SGD, then transfer SGD to IBKR. Then exchange to USD using IBKR.

QUOTE(shenhn @ Mar 21 2020, 11:25 PM)
Can anyone help.
Need help clarifying the steps i need to take to deposit USD into my IBKR account.
Also, are there any other whitelabels for IBKR besides TradeStation Global? or TradeStation Global is pretty much the best option for IBKR whitelabel

Thanks much guys
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Captrader.
TSmoosset
post Mar 22 2020, 01:16 AM

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QUOTE(Yggdrasil @ Mar 22 2020, 12:54 AM)
Not sure but earlier I converted SGD to MYR using CIMB SG. XE.com quoted 3.03 but CIMB gave 3.01.
So around 0.8% loss.
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earlier? you mean today? now it's 3.05 .... sad.gif
TSmoosset
post Mar 22 2020, 10:52 AM

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QUOTE(lamcouz @ Mar 22 2020, 02:39 AM)
I don't have a PR/any visa with Singapore sad.gif Checked the condition seems need these to open the account in Singapore.

With that seems alternative is direct TT from CIMB MY account sad.gif ?
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QUOTE(esyap @ Mar 22 2020, 08:29 AM)
Ya, apparently T & C changed. Need to have work permit, etc to open CIMB Sg now.  sad.gif
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have a look at the thread regarding opening a bank account in SG.

most of us don't have a PR or any visa in SG. Regardless what the T&C say, we still submitted our application and it worked.
I understand your concern. When I opened mine, I thought I wasn't eligible too. Just ignore the T&C.
TSmoosset
post Mar 22 2020, 01:40 PM

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QUOTE(GetHappy @ Mar 22 2020, 01:32 PM)
Constantly changing sgd to usd via ibkr. Sgd will be going down even more coming weeks.

Partial lockdown starting monday 11.59pm. No more entry for short term visitors
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meaning, it'll be cheaper to buy SGD using MYR next week?
TSmoosset
post Mar 22 2020, 08:46 PM

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QUOTE(shenhn @ Mar 22 2020, 06:23 PM)
Ideally, if its still possible would be to set up a CIMB SG account from my current CIMB MY account, then just transfer MYR over & converted to SGD then spot exchange with IBKR for the deposit?

CIMB MY/SG VS Instarem, which do you guys feel its better?

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Give it a try ....

most of the time InstaRem but sometimes, maybe CIMB MY?

sometimes BigPay also gives a good rate.

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