If you don't plan to put a lot, want to reduce monthly fees, and don't use margin often, then go for TSG.
Otherwise, go IBKR.

Example:
If I borrow $10k on margin to buy stocks, the extra 2.5% charged by TSG means I'm paying additional $250 extra per year but I don't need to pay monthly fees.
If I borrow $10k on margin using IBKR, I pay $250 less per year but need to pay $10 per month if I don't have minimum amount to be exempt.

Might be same issue:
https://forum.lowyat.net/index.php?showtopi...post&p=97809562

Same here suspecting similar to the post above. You used Instarem for the transfer above too right? Cuz in IBKR FAQ they listed
"IBKR accepts a variety of electronic transfer methods, which vary by the currency type and local payment systems. PayPal, Skrill, WorldPay, Instarem, Western Union, MoneyGram, Citibank Global Transfers and Online Peer to Peer payment systems (e.g., Venmo, Google Wallet, Zelle, Neteller, QuickPay & Square Cash) are not supported."
Curious if they don't officially support it but they would credit anyways with extra review. I'm using IBKR btw and not whitelabels

This post has been edited by HolyAssasin4444: Aug 18 2020, 12:24 AM

Oh wow. I didn't know about this. I just performed 2 Instarem transactions today and 1 Transferwise. Hopefully it gets through.

Alot of sifus here approve of Instarem so hehe I just follow. But planning to use Transferwise once I finish the points as TW is officially supported by them. The slight better rate on REM not worth the risk imo

This post has been edited by HolyAssasin4444: Aug 18 2020, 12:50 AM

Nowadays instarem price not good like last time.

question about transferwise to send MYR to SGD.
what do you guys fill here? base on my search and understanding, SG banks do not use IBAN but SWIFT code...

Hi yall. Question, should I have more than one brokerage account? Currently using IBKR, should I make a TD or other brokerage for ‘backup’ just in case?

If so, what other brokerage yall recommend? Or can I just create 2 accs for IB other same name? Opinions😅

My TW still stuck since last week . Wrote both IBKR and TS and they said both under review. Didn't even ask for document.

Guys, help

For withdrawal, I cant seem to withdraw / connect IBKR to cimb sg bank.. It keeps saying ‘ you must supply bank information’

When I click the search button under Receiving Bank, 3 Cimb banks pop up.. Which do I choose?

I used this in the past:
Bank Name: CIMB BANK BERHAD
Bank Address: SINGAPORE LAND TOWER 09-0150 RAFFLES PLACE, SINGAPORE, Singapore 048623, Singapore
SWIFT/BIC Code: CIBBSGSGXXX

hey guys first timer here, how do i use transferwise to deposit money?

the bank account they gave me is a VAN which is for myself only

I'm in the process of opening an account with IBKR, twice now my proof of address document was rejected. First was my tenancy agreement blurry, second is my CIMB bank statement rejected today coz 'NON-FATF bank statement is not acceptable' - what does that mean? CIMB not recognized internationally?

I don't have utility bills under my name coz I'm renting now. And they don't accept mobile phone bills as utility bills.

Any advice sifus? I'm planning to re-scan a clear copy of tenancy agreement again, but if that's also rejected...?

What currency you're trying to send?
I just heard that it's incredibly cheap to send SGD and other currencies via Sunway Money. I suppose it's even cheaper to send RM10,000 SGD to SG bank then SGD to IBKR and manually convert paying the tiny fee. Still cheaper than losing RM90 per RM10,000 transferred.

I think they only need to verify your address.
Use your passport to verify identify and your IC to verify address.

I guess CIMB is regarded as untrustworthy by them. Malaysia is famous for money laundering/terrorism financing so I'm not surprised. Try Maybank or other banks.

I see, thanks. That's annoying... Not Malaysian so can't use IC. My options are limited, so will try tenancy agreement again.

I am sifu and I disapprove Instarem and TransferWise. Direct bank transfer is the best.

This is wrong. AFAIK, Malaysia is one of the 39 members of FATF. All banks in Malaysia follows the AML/CFT framework put forth by Bank Negara, making all of them FATF compliant. Therefore CIMB being "non-FATF" is just silly.

On the other hand, IBKR just agreed on a $38 million settlement last week with the SEC, FINRA, and CFTC over a number of anti-money laundering breaches, including failing to file suspicious activity reports (SARs) on international money transfers. I think this is what their panties in bunch and is now asking every transfer for supporting docs.

I am trying to link my existing IKBR PRO to TSG, but it failed.

Do you guys know is there anyway to change existing IKBR PRO account to TSG?

i see, without live data it will be delay? normally you guys all buy live data? or which platform is user friendly?
I play to trade shares for US / SG