No, because I only invested in SG stocks thus far, so no experience of transferring USD or GBP to IBKR before. I was told that USD transfer is quite cumbersome. Given the USD-HKD peg, and that IBKR charges little commission at spot rate for forex, it would make more sense to deposit HKD then convert to your designated currency such as USD. At least it's cheaper and can avoid high mark-up charged by HK banks and avoid all kinds of scrutiny from IBKR (especially USD-related transactions).

As for integrated account, yup. That's pretty much the case. I don't like to owe people money, so when they give me a credit card, I break it up and destroy the chip immediately. The so-called integrated account is for them to make more money out of your pocket because you have all services under one umbrella. Integrated account is just similar to your premier/preferred banking in Malaysia. From low-profit margin basic banking services to high-profit margin securities business. Their NII is their main source of revenue. FD rates is just miserable, 1.5% at most. but loans are typically 5%. NII is quite high in HK banks. (2.2% for Hang Seng).

https://www.hangseng.com/en-hk/about-us/inv...s-announcement/

HKD-CNY account is popular for mainland students and professionals studying and working in HK, and also for businessmen in HK to deal with mainland business. For a Malaysian you won't find it useful unless you have big business in HK and want to expand your business in mainland China. I don't use any of the other currency accounts in my HK bank.

Side note, ranting: The thing is they don't have a debit card. (You call this place an IFC?) In Malaysia, my Maybank card can be used as both an ATM card and a debit card, but in HK, your ATM card is just an ATM card. I tried typing my "ATM" card number into an online bookstore where I want to buy books but failed. It's only when I asked other schoolmates that I realized in HK, they encourage you to owe and spend more, to the extreme that uni students can be given credit cards when they earn nothing. (In Malaysia, no job = no credit card). No wonder loan firms are so common in TVB advertisement there.

Guess what, I even have a current account there and can write cheques...

wondering will SG banks question for 3rd party when u perform the step instarem/bigpay/transferwise -> SG bank?

and may i know the reason why u dont just instarem/bigpay/transferwise (in SGD) -> SG IBKR?

the cost of the stock will definitely remain the same..

eg. if u buy SBUX (Starbucks) @ 74.00 through broker A.. u can't expect the cost of ur purchase to become 70.00 when u transfer it out to broker B right?

as for the layout of portfolio, it really depend on the broker that u planned to transfer to.. u may have to check with them in this case to be sure whether they are able to capture ur cost and display it in their platform

to be safe, record ur own transactions

Off-topic:

Seems like the withdrawal can only be done through the channel you funded your deposit.

Meaning, you will have to fund through TW to be able to receive through TW.


Anyway, is there anyone else using Trading212? Should we create a thread there? Not so nice discussing about it here in IBKR thread.

ya, seems to be that way. i have not tried withdrawing with different means .
T212 technically it's backed by IBKR , but yeah should have its own thread not to be confused with

nope.

receiving broker gets XXX share... portfolio value shows YYY (XXX * price when they received it)... and you get a new unrealized profit/loss based on YYY...

Hi Guys seems like my ques got buried so I’ll post again la haha. Im 21 still studying, I know nothing bout tax. But got some funds and already invested and traded stocks.

Wanna know, When investing in US stocks like TSLA or even other countries like China etc Alibaba, do we have to pay tax. If so how & when? Like how do we go abt it?
How does it work in Msia?

Some sifu here can breakdown pls🙏🏻

Thx in advance guyss!

Please read entire page 77 especially post #1518. This article helps as well. A lowyat thread

Typo: page 76

Nope. No questions asked.
Reason is I want to avoid 3rd party transfer which have more scrutiny.

https://www.tradestation-international.com/...pen-an-account/

is this a whitelabels you refer to ? thank you Ramjade for been so helpful

which is the cheapest ROUTE in transfering myr to ibkr? if not TT.
MYR --> SGD --> IBKR ?

See my previous reply.

I see if whitelabel is costing more then pure IB, i will rather stick it with IBKR. my intention is funding 100kusd
I been position trading for years. lately been pretty active in 3 market hk, uk , and us market.
honestly permonth i trade more then 10 position. if you include 3 -4 or 5 market that is not an issue for me

Thanks for the reference Singkalan🙏🏻
Wait so to clarify, no tax on capital gains at all or am I reading it wrong?

No tax, unless you're trading as a profession and as your main source of income

This post has been edited by mr_tuzki: Jul 14 2020, 01:37 AM

Is not how much you trade. Is whether your trading commission can generate usd10/month or not.

This post has been edited by Ramjade: Jul 14 2020, 07:28 AM

Big pay has served me well. Their MYR/SGD rates are always almost close to google’s rate. And then convert to USD via IBKR is cheap too.

Basically can reach within 1 day if transfer before 5pm (will receive the money in IBKR before US market open the following day)

Thank you again Ramjade. to generate 10usd /month can be easy some month but not if volatility contracting there isnt much trading opportunity. soemtime you just cant simply force trade.

This post has been edited by normanTE: Jul 14 2020, 10:02 AM

WHat broker u using now?
And why u looking for new broker?