i got tdameritrade charlesschwab but mostly trade us market for few decade alrd.
uk indonesia and australia market i use malayan banking and the trading fees is horrandeous. per trip average 300 British pound for me eg my recently swing traded Bats london 24 sold 31, lucky me i got 7gbp profit x 1500 share 10,500 profit but after minus 600 brokerage fees = less then 10 grand

i aware of ibkr but didnt want to pay any inactivity fees earlier. i see myself as an investor, buy and hold approach.
not until recently i had those mindset shifted i am a position trader. so i realised those fees or unnecessary cost.
look like everyone can be daytrader with ibkr.

This post has been edited by normanTE: Jul 14 2020, 10:34 AM

if assets > 100k... $10/month waived...

i see..

another quick one.. does that mean its fine to TT from m'sian bank (acc under my own name) in MYR.. exchange into USD.. direct to IBKR in USD? IBKR acc under my own name as well.. since there's no 3rd party involvement here..

and i do understand this step have to go through the crappy exchange rate and high bank charges

Hello Sifu,

May i ask how we should convert sgd to usd?.... using TWS , or just using the app? or client portal?
If using TWS.... Should we use idealpro or fxconv?
Some youtuber said must use fxconv but some said the other way round 😅
Please help thank you.

use apps will do vert quick

wow, love you guys.
Been doing TT all this while. need to knock my head off. just tried transferwise today. their rate best la.

Guys how do we go about withdrawing funds from IB to CIMB? Do I need to convert back USD to SGD then transfer to CIMB Sg?

Or do I just withdraw straight in USD without currency exchange to CIMB SG?

Also, can withdraw directly into CIMB MY? How do I go abt this , someone help😅

Can use both, idealpro it shows your PL of the Forex position , fxconv doesn't, can use idealpro and then turn off Forex position too, same same I think

Might be mistaken though, both still charge 2 usd

for me it is one way ticket out of malaysia, never did come back to malaysia. consider open hsbc usd account in united state, or hk usd integrated account which can deposit and withdrawal usd note. next nearest to malaysia is standard chartered bank singapore priority banking services come with usd account ( you can apply usd debit card but there is a fees per usage eg 2usd per swipe) honestly i prefer usd account in united state not in hongkong or singapore. that way you can use your usd just like any currency shopping with amazon ebay or even cruises they all accepts usd credit card which can deduct from you us banks account. this day it is normal to store usd then other currency after all it will be the last to collapse.

I store mostly usd and chinese rmb. Because my invested instrument pay me those currency

Wow ya thats interesting. I definitely wanna open US acc,moving forward. Can I do it online, similary to CIMB Sg or do I gotta be at physically there in US?

But For now thi, I want some funds from stock gain withdrawd into my CIMB malaysian account to pay for my uni fees etc..Any help as to how it can be withdrawn?

Nope you dont have to set your foot at all in united state to have those account opened.
maintain a relationship balance in HSBC premier malaysia can alrd. then ask your relationship manager to refer you to hsbc international office in kl.
standard chartered sg is one of the best Offered in the region. they can trade 8 country thru same online platforms and their fees is comparable to discount brokerage eg whitelabeled or TOS. but there is minimal 200,000sgd to maintain those account. plus point come with scb priority credit card which can asses airport lounge.

Convert usd to sgd in IB, then withdraw from IB to CIMB sg. From there, either you leave money in sg like most users here, or transfer to your MY bank account. Read this page especially post #1103

Yup can do that but pay more = less available for investing over long term.

Fxconv - no virtual position.
Idealpro - virtual position which cannot be deleted, can only hide.

Depends on what you want. If like to see virtual position on your Forex conversion use idealpro. I don't like hence I use fxconv.

Convert USD to SGD directly using Ibkr. Withdraw out to CIMB sg.
Transfer directly using CIMB clicks sg but need to link your CIMB Malaysia account.

Max only RM 10k/transfer right?

This post has been edited by Ramjade: Jul 15 2020, 10:06 AM

I wanted to register an account online, but the website keep log me out from complete the registration. Anyone have this issue?

For international transfer, it’s RM20k daily, RM30k monthly. I slowly pump in money everytime after I sell some bursa stocks lol.

The RM10k limit is between local bank to big pay.

This post has been edited by Raymond_ACCA: Jul 15 2020, 05:31 PM

How do you deposit in rm20k?
I tried rm30k but was told by bigpay fox only accept rm10k (top-up)

This post has been edited by Ramjade: Jul 15 2020, 08:42 PM

no such problem. try using a clean browser

Oh I should reword.

International transfer =20k per day/ 30k per month
Top up = 10k per day.

ok noted.. thanks for the clarification boss

Guys there is some problem with IBKR they dont provide free market data for their client. we need to subscribe to it with a monthly fees. there is no free lunch i suppose. no wonder their trading fees is so low.

since i have account with tdameritrade so i got free data from there. but buy and sell thru ibkr