Very helpful.... Thank you very much 👍👍👍💪
Interactive Brokers (IBKR), IBKR users, welcome!
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 Jul 11 2020, 06:03 PM
Show posts by this member only | IPv6 | Post
#1481
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Junior Member
17 posts Joined: Sep 2011 
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Jul 11 2020, 08:32 PM
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Junior Member
83 posts Joined: May 2009
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QUOTE(Ramjade @ Jul 10 2020, 10:56 AM) Don't email. Contact them via built in PM. Received IBKR's email enquiry. It's actually regarding my Instarem transfer. They were treating it as a third party transfer as 'Instarem' appearred in their system. So I emailed them the Instarem Statement which shows the transfers were from me. See wat is their reply later.Is most likely going to ask for proof of funds, and documents.  Thanks for ur suggestion Ramjade, but I have oledi replied them thru email before I saw ur suggestion. |
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Jul 11 2020, 08:52 PM
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Elite
5,784 posts Joined: Jan 2003 From: Shah Alam  
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QUOTE(Gwynbleidd @ Jul 11 2020, 12:12 PM) Regarding Trading 212, those with TW Borderless Account should be able to use it without dealing with the high transaction costs/fees of local banks right? i have been using Trading212 for past few weeks.basically good stuff: a) accessible to US, Europe (not fully) b) no maintenance fee c) fractional shares. (from USD1) d) no transaction fees e) easy to deposit money (use BIGPAY debit card for almost @ spot live rate) f) option for CFD account. i did not explore it yet overall, great brokerage with everything laid out clearly If ur a small amount investor who doesn't want misc fees and inconvenience, trading212 is the way to go Basically, easy forward to open acc. doc needed : Passport, Bank account statement, utility bills. Most important of all, name and address must same and correspond to you what you have registered. This post has been edited by kucingfight: Jul 11 2020, 11:38 PM |
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Jul 11 2020, 09:02 PM
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Senior Member
1,917 posts Joined: Sep 2012
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QUOTE(kucingfight @ Jul 11 2020, 08:52 PM) i have been using Trading212 for past few weeks. Question: basically good stuff: a) accessible to US, canada & Europe (not fully) b) no maintenance fee c) fractional shares. (from USD1) d) no transaction fees e) easy to deposit money (use BIGPAY debit card for almost @ spot live rate) f) option for CFD account. i did not explore it yet overall, great brokerage with everything laid out clearly If ur a small amount investor who doesn't want misc fees and inconvenience, trading212 is the way to go Basically, easy forward to open acc. doc needed : Passport, Bank account statement, utility bills. Most important of all, name and address must same and correspond to you what you have registered. 1. Can withdraw funds to bank account or must go back to BigPay? 2. Live market data for US, Canada and Europe? |
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Jul 11 2020, 10:16 PM
Show posts by this member only | IPv6 | Post
#1485
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All Stars
24,339 posts Joined: Feb 2011
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QUOTE(moosset @ Jul 11 2020, 09:02 PM) Question: They don't have access to Canada market. From what I see on YouTube yes live data.1. Can withdraw funds to bank account or must go back to BigPay? 2. Live market data for US, Canada and Europe? This post has been edited by Ramjade: Jul 11 2020, 10:16 PM |
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Jul 11 2020, 10:38 PM
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Probation
38 posts Joined: Jun 2020
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Bros, if you transfer money through InstaRem/Transferwise out of Malaysia, is there a certain threshold before they notify Bank Negara? Another question would be if you withdraw your stock gainz in to sg bank account, is it considered taxable income by LHDN?
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Jul 11 2020, 10:51 PM
Show posts by this member only | IPv6 | Post
#1487
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All Stars
24,339 posts Joined: Feb 2011
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QUOTE(singkalan @ Jul 11 2020, 10:38 PM) Bros, if you transfer money through InstaRem/Transferwise out of Malaysia, is there a certain threshold before they notify Bank Negara? Another question would be if you withdraw your stock gainz in to sg bank account, is it considered taxable income by LHDN? Theoretically below rm5k they won't ask for documents.More than rm5k maybe will ask you for documents. Failing to produce documents that satisfied the transferer will cancel your transaction and money will be refund to you. Whether they inform bank negara or not, I am not sure. Even if they income so what? We are allowed to invest overseas. If you have loans maximum you can transfer out of the country is rm1m/year. Most important is can you provide the documents when they asked. Not taxable. But grey area if you do it for a living. singkalan liked this post
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Jul 11 2020, 11:40 PM
Show posts by this member only | IPv6 | Post
#1488
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Probation
26 posts Joined: Mar 2020
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Guys when investing in US stocks like TSLA or even other countries, do we have to pay tax. If so how & when? Like how do we go abt it?
Thx in adv! |
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Jul 11 2020, 11:43 PM
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Elite
5,784 posts Joined: Jan 2003 From: Shah Alam
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QUOTE(moosset @ Jul 11 2020, 09:02 PM) Question: 1, not sure to be honest. haven't tried1. Can withdraw funds to bank account or must go back to BigPay? 2. Live market data for US, Canada and Europe? 2, yes, think so QUOTE(Ramjade @ Jul 11 2020, 10:16 PM) They don't have access to Canada market. From what I see on YouTube yes live data. yup ur right..wrong info |
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Jul 12 2020, 09:26 AM
Show posts by this member only | IPv6 | Post
#1490
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Junior Member
17 posts Joined: Sep 2011
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Hello Sifu,
Even if we use the dividend reinvest program, our dividends still taxable by US? Any way to avoid the 30% dividend tax ? Thank you. |
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Jul 12 2020, 11:49 AM
Show posts by this member only | IPv6 | Post
#1491
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All Stars
24,339 posts Joined: Feb 2011
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QUOTE(kucingfight @ Jul 11 2020, 11:43 PM) 1, not sure to be honest. haven't tried No live data?2, yes, think so yup ur right..wrong info QUOTE(willylwl @ Jul 12 2020, 09:26 AM) Hello Sifu, Of course. Cannot run away Even if we use the dividend reinvest program, our dividends still taxable by US? Any way to avoid the 30% dividend tax ? Thank you. Only way 1. If you are buying etf buy Ireland fund from LSE 2. Throw away your IC and become citizen if another country that have tax treaty. This post has been edited by Ramjade: Jul 12 2020, 11:50 AM |
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Jul 12 2020, 11:56 AM
Show posts by this member only | IPv6 | Post
#1492
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(Ramjade @ Jul 12 2020, 11:49 AM) No live data? For the records, Ireland UCITS still has 15% dividend withholding tax per US-Ireland tax treaty, but the tax is withhold when the dividends are paid to the UCITS managers, so you don't see any deductions on your side. I have seen some REITs such as Keppel Pacific Oak REIT which has very tax-efficient structure and not subjected to any form of tax. This is done by treating investment as "loans" from the parent company, if I understand the structure correctly.Of course. Cannot run away Only way 1. If you are buying etf buy Ireland fund from LSE 2. Throw away your IC and become citizen if another country that have tax treaty. Such sophisticated structures are certainly beyond our reach. This post has been edited by TOS: Jul 12 2020, 11:57 AM |
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Jul 12 2020, 06:45 PM
Show posts by this member only | IPv6 | Post
#1493
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Probation
35 posts Joined: May 2020
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QUOTE(heyamazingpeople @ Jul 4 2020, 12:29 AM) So u already have US bank account? Shouldn’t have any issue.. if ur question is transferred from Msia bank account to US bank account using instarem. Yup, i already have a US account. i just want to transfer money to my US account using instarem and then transfer that money from US account to IBKR. |
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Jul 12 2020, 07:23 PM
Show posts by this member only | IPv6 | Post
#1494
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Junior Member
791 posts Joined: Mar 2007
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QUOTE(kucingfight @ Jul 11 2020, 08:52 PM) i have been using Trading212 for past few weeks. Did you noticed the spread was high? I noticed their price can be different to ibkr/google. Might just be data delay, I'm not sure. I've open an acc with them a month back but haven't deposited, worried how to withdraw. If you can test, that would be great, particularly withdraw to bank account or credit card/debit card other than bigpay.basically good stuff: a) accessible to US, Europe (not fully) b) no maintenance fee c) fractional shares. (from USD1) d) no transaction fees e) easy to deposit money (use BIGPAY debit card for almost @ spot live rate) f) option for CFD account. i did not explore it yet overall, great brokerage with everything laid out clearly If ur a small amount investor who doesn't want misc fees and inconvenience, trading212 is the way to go Basically, easy forward to open acc. doc needed : Passport, Bank account statement, utility bills. Most important of all, name and address must same and correspond to you what you have registered. |
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Jul 12 2020, 08:33 PM
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Newbie
43 posts Joined: May 2016
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Is there a way to transfer money from Transferwise in malaysia to IKBR? Thanks. If possible in USD?
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Jul 12 2020, 08:39 PM
Show posts by this member only | IPv6 | Post
#1496
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(anwa @ Jul 12 2020, 07:23 PM) Did you noticed the spread was high? I noticed their price can be different to ibkr/google. Might just be data delay, I'm not sure. I've open an acc with them a month back but haven't deposited, worried how to withdraw. If you can test, that would be great, particularly withdraw to bank account or credit card/debit card other than bigpay. The spread is exactly how they make money. They will forward your buy/sell lots to a wholesale market maker and earn from bid/ask spread. At least that's how US zero-commission brokerage firms make money these days. There is no free lunch in this world. The force behind the US market rally, Robinhood and 8 securities in HK all make money this way. This post has been edited by TOS: Jul 12 2020, 08:40 PM |
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Jul 12 2020, 08:42 PM
Show posts by this member only | IPv6 | Post
#1497
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Junior Member
791 posts Joined: Mar 2007
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QUOTE(aj300 @ Jul 12 2020, 08:33 PM) Is there a way to transfer money from Transferwise in malaysia to IKBR? Thanks. If possible in USD? USD is impossible due to USA laws, need to come from account with your name and not third party. I've used transferwise myr to gbp. Should also work for sgd, eur, aud and hkd. However recently some reports ibkr question deposit from transferwise and Instarem. So, you might need to try and see how it goes. |
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Jul 12 2020, 10:03 PM
Show posts by this member only | IPv6 | Post
#1498
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Junior Member
259 posts Joined: Sep 2007
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I had opened the IBKR trading account thru website.
problem come when i try to TT telegraphic transfer the fund the trading account. the excused given by uob. ocbc and maybank malaysia is the account that receive the fund must be your name not interactive broker account is this even possible bank negara made it so difficult to transfer the funds out of malaysia. If I go to blackmarket and do them, there will be some repurcusion eg CRS or OECD which you need to answer to LHDN despite all the funds is legally acquired. is there anything that i filled wrongly? |
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Jul 12 2020, 10:05 PM
Show posts by this member only | IPv6 | Post
#1499
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Junior Member
259 posts Joined: Sep 2007
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one of the reason. malaysia dont implement double taxation rules. means trading gain from equity outside malaysia is not taxable. because in us we signed W8ben and in china there is 15% tax. so malaysia inland cant tax you 2nd time when you have profit in oversea trading account
This post has been edited by normanTE: Jul 12 2020, 10:05 PM |
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Jul 12 2020, 10:10 PM
Show posts by this member only | IPv6 | Post
#1500
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Junior Member
791 posts Joined: Mar 2007
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QUOTE(normanTE @ Jul 12 2020, 10:03 PM) I had opened the IBKR trading account thru website. That's strange, by right TT should work. Only that the fees are higher. Where got logic only TT to own name? Say I want to send money to relatives or to merchant, surely is the receiving person name.problem come when i try to TT telegraphic transfer the fund the trading account. the excused given by uob. ocbc and maybank malaysia is the account that receive the fund must be your name not interactive broker account is this even possible bank negara made it so difficult to transfer the funds out of malaysia. If I go to blackmarket and do them, there will be some repurcusion eg CRS or OECD which you need to answer to LHDN despite all the funds is legally acquired. is there anything that i filled wrongly? |
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