Is this mean we can use IB to buy Bursa stock ?

can my new application be approve without having putting any fund into my own account 1st?

Investing into ETFs via IBKR also requires conversion. So the foreign currency risk is always there

Yea, the cheapest way to park your funds in IBKR is just use BIL ETF. Park all your USD save for a couple of dollars for commissions in BIL ETF. Withdraw anytime during US premarket/aftermarket or during normal trading session then you can use it to purchase any US stocks/ETFs instantaneously, even with cash account, no need for T+1 settlement unless you need to withdraw the money out of IBKR account into say, your USD bank accounts.

Try to avoid fractional shares with BIL ETF yea... At worst, you will leave behind some 90ish USD as cash in your IBKR account. Fractional shares for stocks with 4 digits share prices are easier to trade, but for double digit unit price like the case of BIL ETF it's a hassle to buy and sell. After all, your goal is short-term liquidity management here...

As for tax, indeed as Medufsaid said, there is a 30% WHT when BIL credit the dividends to you every month, but around early February of the following year, IBKR will reverse the WHT and refund you the money in your USD cash account.

The expected return of BIL ETF is about 20 basis points below the 1-2 month US T-bill yields, mainly due to the 0.14% management fee charges from SSGA and another 0.05% from the lost in interests on interests due to the 30% withholding tax.

*In case you wonder how to compute the lost in interests on interests... here's the maths:

Assuming you start in February in year 0, you lose 5%/12 * 30% WHT * 5% , the second 5% being the interests on interests. In March, you lose 5%/12 * 30% WHT * 5% * (11/12), now you lose (11/12) of the annual interests on interests (you only got 11/12 of a year left to compound your interests on interests until next year's February, when IBKR refund you the 30% WHT), but the capital remains the same, i.e., 5%/12 month * 30% WHT. So the total opportunity cost, in simple interest terms, to first order effect (we ignore interests on interests on interests and .... on interests...  and... ), the sum of series is 5%/12 * 30% WHT * (1/12) * (12+11+10+...+1) = 0.04% p.a.

Do correct me if my maths is wrong... my head is spinning all over the place writing my PhD qualifying exam report...

the deposit options i see in the app are two which involves wise, and a "transfer securities"

Yup, I recall I got more funding options. I registered on the web before downloading and use the app to trade thou

What’s the rule/duration to qualify for the free ibkr shares for new users?

Referred Payout
Referred accounts will receive $1 in IBKR shares for every $100 of value (cash or other assets) added to their account for up to $1000 worth of IBKR shares. The average balance must be maintained for at least 1 year for the shares to vest and be accessible.

Guys, any money market fund on ibkr for my uninvested cash?

Yea, the cheapest way to park your funds in IBKR is just use BIL ETF. Park all your USD save for a couple of dollars for commissions in BIL ETF. Withdraw anytime during US premarket/aftermarket or during normal trading session then you can use it to purchase any US stocks/ETFs instantaneously, even with cash account, no need for T+1 settlement unless you need to withdraw the money out of IBKR account into say, your USD bank accounts.

Try to avoid fractional shares with BIL ETF yea... At worst, you will leave behind some 90ish USD as cash in your IBKR account. Fractional shares for stocks with 4 digits share prices are easier to trade, but for double digit unit price like the case of BIL ETF it's a hassle to buy and sell. After all, your goal is short-term liquidity management here...

As for tax, indeed as Medufsaid said, there is a 30% WHT when BIL credit the dividends to you every month, but around early February of the following year, IBKR will reverse the WHT and refund you the money in your USD cash account.

The expected return of BIL ETF is about 20 basis points below the 1-2 month US T-bill yields, mainly due to the 0.14% management fee charges from SSGA and another 0.05% from the lost in interests on interests due to the 30% withholding tax.

*In case you wonder how to compute the lost in interests on interests... here's the maths:

Assuming you start in February in year 0, you lose 5%/12 * 30% WHT * 5% , the second 5% being the interests on interests. In March, you lose 5%/12 * 30% WHT * 5% * (11/12), now you lose (11/12) of the annual interests on interests (you only got 11/12 of a year left to compound your interests on interests until next year's February, when IBKR refund you the 30% WHT), but the capital remains the same, i.e., 5%/12 month * 30% WHT. So the total opportunity cost, in simple interest terms, to first order effect (we ignore interests on interests on interests and .... on interests...  and... ), the sum of series is 5%/12 * 30% WHT * (1/12) * (12+11+10+...+1) = 0.04% p.a.

Do correct me if my maths is wrong... my head is spinning all over the place writing my PhD qualifying exam report...

Noooo, please continue sharing your knowledge 🙇‍♂️

(so you can't buy DBS, UOB or OCBC if the stocks tank intraday, it gotta be crashes lasting a few days then only you have the opportunity to buy).

But it is ok to straight away go MYR > Money match/Sunway money USD > OCBC USD > IBKR

Or is it because USD transactions are more scrutinized than SGD?

OCBC SG Global Savings Account.

Stumbled across this method to send OCBS sg USD balance to DBS sg USD balancehttps://www.reddit.com/r/singaporefi/commen...bc_fcy_account/

Meaning that I will kena swift fees?

Is it better to use Wise then? MYR to money match USD to Wise  to IBKR?

In terms of fees, is it better than the SGD route? MYR to money match SGD to Climb SG to IBKR to USD?