your fee is $3.5

$3.50 based on 1,000 x $0.0035?? jezz christ......you made me look really stupid.....lol (i am )

what if i buy usd10,000 value of stocks and quantity 28,571 unit of $0.35 stocks.

$10,000 value at 1% = $100
28,571 unit at 0.0035/share = $99.99

Based on my calculation IBKR will charge me usd$99.99 not usd$100.00......finally i look smarter......lol

This post has been edited by livina2011: Jun 9 2020, 04:32 PM

please say i'm correct or else i'll

if i buy 28,571 unit at $0.35 a value of usd10,000 IBKR charges me $99.99 but local bank charges for a usd10,000 order (no matter what quantity) is only usd40.00 that's 60% cheaper than IBKR.......no??

This post has been edited by livina2011: Jun 9 2020, 04:32 PM

Haha yes! Totally forgot about the Max 1%. Never have I reached the max before cause never purchase so big quantity lol.

I plan to use transferwise to fund IBKR account.
is there any link to see how it's done? TIA.

Tried transferring SGD using BigPay. SGD810. Only RM2,500 max BigPay top up for me per month. First international transfer is free. Since no place to write user ID/reference, I purposely put a non-round number just in case they can't match lol.

Received it in IBKR after 2 working days.

It's quite straight forward actually.

Log in to your client portal, left hand side, transfer fund, make a deposit, choose your currency, bank wire... then you've all the bank details you need. Then login to TW... initiate transfer.

It's as easy as using microsoft word or google mail or accessing 18+ websites. No one taught us anything.

u use trade station global?

Do you have to email them to get the fund allocated to your account since there's no place to write user id/reference? Also read from other forum that IB asked to explain about third party transfer.

You do know that's only for credit card top-up right? You can literally top-up up to rm10k using bank transfer.

Yes bigpay is slow.

Yes. They automatically opt my fees following TS global. Not sure how to opt back to Pure IB though, but didn't bother as my trade commission via IB currently is USD10 or less per month anyways. Barely trade penny stocks or active trading.

No need. First, create a new method of transfer, then just say it's from BigPay and fill up the information required. Even the information for bank account number is optional.

Then, initiate a notification of intent to transfer with them. Just ensure the amount stated on intention to transfer is the exact same amount that you're gonna transfer.

It seems they just match the actual amount transferred via the stated bank vs the notification of intent to transfer. So, to be safe, I put in a non-round number. Once, when transferring USD via Maybank, I actually forgot to put my user id/reference, but the amount still got deposited in a matter of hours.

Note that BigPay cannot transfer in USD ya. So ensure you select SGD as currency.

Oh great, thought max was 2,500 whichever method

Thanks for the detailed explanation. Got it all and gonna try it soon! Wanna compare the rate with TW and Instarem.

@Raymond_ACCA

How fast money reach our local bank after request withdrawal from IBKR? any limitation i.e max amount withdrawal per day, max request per month

can we request usd to our local usd local bank account?

Overall BP cost is cheaper or transwfetwise?

Never withdraw before though, sorry can’t help on this. But I read somewhere in the website there’s a limited number of free withdrawal per month, then got some charges.

Local bank account overseas instant like few hours provided you withdraw to the local currency of your country.
If to Malaysia few days. Plus extra TT fees, markup I change rates by Malaysian banks.

You can withdraw how many times you like in a month but you only get one free withdrawal in a month. Make more than one you pay for each withdrawal.

You have to check before you transfer. TransferWise is generally more expensive.

Times have changed!

As of now,
RM 10k =
$3,233.39 in BP
$3,237.37 in InstaRem
$3,239.52 in TW

unfortunately, BP doesn't allow screenshot.

Note: there may be discrepancy if you don't log in to check the forex rate for TW and IR.

Anyway, this only matters if you're as stingy as me.

yes you can......open screen record video, open BP perform transaction then screenshot that video. BP have not thought of that yet......lol

This post has been edited by livina2011: Jun 10 2020, 07:23 PM

It takes less than 24 hours. Limit is USD5 million. One free withdrawal per month. Next withdrawal in that month incurs small fee. No max withdrawal per month.

If the account is in USD, then your bank will deposit USD.

Unker Ramjade's info is outdated. Last time he withdrew was in 2008

How to withdraw from IBKR to transferwise?
What is the fee?