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 Interactive Brokers (IBKR), IBKR users, welcome!

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Medufsaid
post Aug 14 2024, 12:17 PM

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He is transferring USD to ibkr. The USD was already converted. Gwynbleidd you are transferring RM to IBKR right?
Medufsaid
post Aug 14 2024, 01:13 PM

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HumbleBF old rates = 0.65% + USD0.39
new rates = 0.54% + USD1.13

so, for large amounts, the new rates is actually cheaper
Medufsaid
post Aug 29 2024, 10:21 AM

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TOS I suspect ibkr won't introduce MYR as a base currency. You still have to deposit USD SGD
Medufsaid
post Aug 29 2024, 12:28 PM

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Maniee27 wait for official details. My interpretation is, foreign us/sg customers can access our markets. Doesn't mean they setup shop for Malaysian customers
QUOTE
today announced that its (existing) clients can trade stocks on Bursa Malaysia
words in bracket mine

This post has been edited by Medufsaid: Aug 29 2024, 12:32 PM
Medufsaid
post Aug 29 2024, 08:28 PM

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you can trade FCPO and FKLI on IBKR now. later 9pm when BMDB T+1 trading session starts i see what screenshots i can take. (that or market data won't be ready indicating that IBKR not really ready yet)

--update--

seems like can only place order 24 hours after permission granted. too bad

This post has been edited by Medufsaid: Aug 30 2024, 01:29 AM
Medufsaid
post Aug 31 2024, 03:43 PM

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QUOTE(lamode @ Aug 9 2024, 10:00 AM)
i live chatted CS after failed to set trade permission for FKLI, according to CS, they currently not available to trade.  rclxub.gif
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i can enter GTC orders already for FKLI/FCPO (queued for a very low price just to see if order will go through).

you plan to trade soon? i last traded FKLI years ago and never looked back

This post has been edited by Medufsaid: Sep 1 2024, 08:44 AM
Medufsaid
post Sep 1 2024, 10:46 PM

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TOS Moomoo malaysian has been charging stamp duty for months already. you get deducted $0.23 per $230 transacted. months ago it was $0.21 per $210 due to exchange rate
QUOTE(Medufsaid @ Mar 20 2024, 12:50 PM)
you can always check before you buy/sell. notice that line that says "Comission"

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Medufsaid
post Sep 2 2024, 10:01 AM

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coyouth don't know yet. manage your expectations as IBKR might not come to Malaysia. for now it looks like they just allow foreigners to invest malaysia futures

This post has been edited by Medufsaid: Sep 2 2024, 10:05 AM
Medufsaid
post Sep 2 2024, 06:41 PM

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adam1190
no extra fees. If you use recurring investment you can also save the USD2

Medufsaid
post Sep 6 2024, 10:44 AM

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QUOTE(lee82gx @ Sep 6 2024, 10:21 AM)
I'm also very much looking forward to re-opening a joint account with rights of survivorship with my wife.
As of today if you already have an individual account they treat you like a terrorist / money launderer if you try to do this kind of changes via "chat" or phone call.
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did you close your individual account already? can try to open joint acct here

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QUOTE(TOS @ Sep 6 2024, 10:29 AM)
I have the same question too. But Moomoo charges it anyway:
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rakuten / webull etc all have to charge it

This post has been edited by Medufsaid: Sep 16 2024, 07:58 AM
Medufsaid
post Sep 6 2024, 01:02 PM

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QUOTE(sp3d2 @ Sep 6 2024, 11:39 AM)
my ibkr is US based, should i transfer it to singapore (as it is the nearest and easiest)?
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just open joint ibkr acct with your partner. if cannot, can consider to move to Moomoo Singapore
QUOTE(lee82gx @ Sep 6 2024, 12:03 PM)
I thought I opened an SG account, but I believe mine is handled via Hong Kong. This was what the chat customer service told me.
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just generate your report statement, if it's IBKR HK it'll show as such. mine is IBKR LLC

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if TOS generates, his will be IBKR UK (since he opened it via tradestation)

This post has been edited by Medufsaid: Sep 6 2024, 01:03 PM
Medufsaid
post Sep 6 2024, 09:27 PM

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BMDB did a webinar for IBKR last month... let's see what takeaway i'll have after watching the recording https://www.interactivebrokers.com/campus/w...vatives-market/

--update--

ok nothing relevant. will just email the speaker

This post has been edited by Medufsaid: Sep 6 2024, 09:36 PM
Medufsaid
post Sep 9 2024, 03:29 AM

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TOS online says that IBKR USD (in singapore) is using DBS?

This post has been edited by Medufsaid: Sep 9 2024, 03:36 AM
Medufsaid
post Sep 9 2024, 10:39 AM

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TOS wow if that's the case, I wonder if more cost effective to open moomoo sg acct (directly or via moomoo my) and buy $BIL there
Medufsaid
post Sep 16 2024, 12:49 AM

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adam1190 let me use USD1,000 as an example
  • fees if you convert MYR to USD within wise
    » Click to show Spoiler - click again to hide... «
    i add additional USD1.13 to the USD1,000 as each USD deposit from Wise->IBKR has a flat fee of USD1.13 (ACH method, or direct IBKR deposit method)

  • fees if you directly send MYR from within IBKR
    » Click to show Spoiler - click again to hide... «
    QUOTE
    IBKR notes that it receives 5.5% of the 'transfer fee' collected and remitted by Wise for all cross-currency transfers completed through IBKR
    to prove this i'll add the 5.5% to the original Wise fee

    RM23.26 * 1.055 = RM24.5393

    RM4,306.86 + RM24.5393 = RM4,331.3993 (so this tallies with the figure u see on IBKR screen)
the cheaper way to send USD from wise to IBKR is via ACH, you'll only need to fork out RM4,330.12
» Click to show Spoiler - click again to hide... «


This post has been edited by Medufsaid: Sep 16 2024, 08:35 AM
Medufsaid
post Sep 17 2024, 12:41 AM

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trading FKLI & FCPO is live already actually, just that i won't be coming back to FKLI at this point of my life.

just need someone who's willing to tryout and see how it works in IBKR
QUOTE
To create a straightforward trading process, Interactive Brokers will facilitate trades with an automatic FX conversion between a client’s base currency and the Malaysian Ringgit using a conversion rate determined based on the prevailing foreign exchange market rates. This eliminates the need for pre-trade currency conversions and simplifies the trading experience for clients.

[...]

Source: BusinessWire
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QUOTE(Medufsaid @ Aug 31 2024, 03:43 PM)
i can enter GTC orders already for FKLI/FCPO (queued for a very low price just to see if order will go through).
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Medufsaid
post Sep 19 2024, 12:32 PM

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QUOTE(lhshyong @ Sep 19 2024, 12:23 PM)
, do they have an office in MY or SG?
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they have sg office. However, Malaysian users (based on country of residence) will be under IBKR LLC not IBKG sg

Don't know if sg will layan if anything happens
Medufsaid
post Sep 25 2024, 05:36 AM

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stephanieKingsley yes and no. (since u wanted quick answer right?)

always compare if u can. when forex is volatile (especially right now), only wise is the one with stable fees (since it's doing business internally with Wise MY vs Wise sg). the others are known to jack up their fees.
QUOTE(Medufsaid @ Aug 2 2024, 01:32 PM)
QUOTE
Just update here this afternoon compare to online XE rate. Wise around 0.69% difference. Sunway money and money match around 0.6%. WISE direct to ibkr in usd around 0.6%...I will try Wise to ibkr directly. Do I need to initiate from ibkr or just do it from wise directly? The setup done previously.
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this post made me recheck the wise/moneymatch/duitnow rates and surprisingly, Wise is cheapest for 2 days now

duitnow wise moneymatch
user posted image user posted image   user posted image
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This post has been edited by Medufsaid: Dec 21 2024, 12:07 PM
Medufsaid
post Sep 25 2024, 04:13 PM

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wow verified, sunway money is indeed the best today
Medufsaid
post Sep 27 2024, 04:34 PM

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no time to really check but looks like "Malaysian Ringgit-denominated Equities and ETFs" no longer have "Coming Soon" anymore. anyone wanna investigate? https://www.interactivebrokers.com/en/tradi...sa-malaysia.php

cc TOS

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