1. As shown in many posts, via CIMB (MY) MYR -> CIMB (SG) SGD -> IB.
2. No! No cash deposit. Only electronic money transfer. Ringgit you can deposit into banks, definitely not foreign currencies.
3. The first 7 months is free. If you've more than 100k USD in the acc, then it's free without usd 10/month.
4. Just ask IBKR to send money back to your CIMB (SG) account. There shouldn't be any charges.



errr ... passport?

Sifu,
I just try your advice, CIMB@SG require to deposit Initial SGD1000 to new account as activation.

Before, I activate it, I Still dont get the point of Saving:-

1) If transfer from CIMB@My -> CIMB@SG, We still suffer the loss from Xrate(MYR-To-SGD) right?

that's the only way....

loss? They only take a bit for the foreign exchange fee; no transfer fees.

Hey, they're running a business, not a charity.

Thanks Sifu,
I think, first SGD1k have to grant to CIMB.
For long run, I will use Instarem

BTW, From CIMB@SGD to Interactive broker. How long leadtime the amount will appear?

yes, that's what most of us did.

within 24 hours, I think. It was quite fast.

3. Yes. Usd10/month if inactive. No transaction + your transaction doesn't generate USD10. Eg only USD2. Hence you will be charged the balance USD8. To avoid it
1. hold USD100k of cash or stocks with them
2. Trade frequently until you generate USD10/momth
3. Use whitelabels

4. Cheapest way is IB - > SG banks (Cimb AG) - > MY banks.
Think carefully if you keep bringing money back to Malaysia you going to lose a lot. Think of it as a one way ticket. IF you are not ready, don't open.

For initial deposit might take 1-2 business days, subsequently usually around 15mins during Singapore business hours

For Cimb sg first sgd1k deposit, I do this unintentionally, I asked my brother who working at sg to fast transfer sgd1k to my cimb sg account, I thought this will fulfill the account opening requirement, but later cimb cs called and told me that they can't do verification as the source account is not from my account, she advise me to make a transfer from my Cimb Malaysia account to cimb sg account, so they can verify me and activate my cimb sg account. So I just make another sgd 10 (about rm30++) from my cimb Malaysia account to cimb sg account, and my cimb sg account get activated next business day and received pin via SMS for cimb click registration.

Yes, that's what I did as well. Always perform the first transfer from CIMB My to CIMB Sg to verify your account first, granted that this bank allows you the convenience of opening online without Sg address. This should prevent any future complications later.

Subsequently you can fund your CIMB Sg with instarem to save cost.

Thanks. Sifu..I will follow your advice doing it..
Happy investment..

To all senior Thanks for the reply.. I will follow your advice doing it..

Another question..
Actually I'm investing in commodity as Future Option seller selling contract...

Anyone is investing in this area? I would like to hear from you.. Dis/adv..

Congrats,...

Actually,.. just wanted to say this : we Malaysians are quite fortunate, being closely-related to SG, we have these 'privileges' to be able to open bank accts quite easily in SG. I have neighbours from Australia and Japan, friends from HK, etc, who needed to go through many levels of checking before being granted accounts.

Even for private banking accts today,...

Hello, Sifu, Ramjade & Mosset,

Can you show few screenshot, how to convert from SDG to USD,
Under forex change? I need some clue how to do it.

Thanks,

OK, I just try it via paper.. Is done now..

To all Sifu,

Whats the different between FXCONV vs IDEALPRO ??
Both also same rate, & appear same amount to account

IDEALPRO creates a virtual position you can see in your portfolio e.g. USD.SGD
FXCONV does not

wah ... you've discovered so much...

I still don't have time to go through all the functions.

Let's learn together.. We're team, we got the same objective & aims..

OBJ= GO TO ROB 'GUI LOU' MONEY...

what's the purpose of showing this virtual position in your portfolio?

For those trading currency pairs, you can easily do a 'sell' by selecting close position option.

For long term buy and hold investors, it makes no difference. To me it's an eyesore so I use FXCONV