Other than market data, what settings should I choose in Interactive Brokers, to prevent unnecessary fees being charged?

Sorry, I am still quite new in using Interactive Brokers. The amount of settings in Interactive Brokers can be quite overwhelming for beginners.

Thank you for your information.

Hi guys,

I manage to open and fund my tradestation global account. I did it via a singapore account. My question is I transferred SGD 1500 which converts to USD 1060. On my IB account page it shows USD 1060, does it mean they have already converted my SGD 1500 or do I need to do a conversion and pay a commission of USD2 as what Ramadje posted previously?

On a side note, opening the account was a breeze. Got the account within 5 hrs of signing up.

Thanks

Hi,

Im fiddling around the IB website and I cant figure out how to do the manual currency conversion?  In the accounts settings, there is a "currency conversion" tab which needs me to request trading permission. Is it there i perform the conversion?

Thanks.

I see. Im using the web portal.

I believe different banks have different TT charges but vary slightly only from RM25-40 + not favourable ex rate + IB may not receive the full exact transferred amount.

Pls share ur experience if u r able to trf USD vis instarem to IBKR as I believe not able to do so unless it's EUR/JPY.

Interactive Brokers (IBKR)

To use IBKR, you have 3 options:
1. via IBKR main website;
2. via TradeStation Global, TSG (not to be confused with TradeStation International);
3. via Captrader, please refer to another thread.

via IBKR
Just google Interactive Brokers and register there.
There's a monthly activity / inactivity fee of $10 per month, but can be waived if your total asset is above $100k.
If you can meet the min requirement, this would be better as their fees are lower than TSG.

Fees - https://www1.interactivebrokers.com/en/index.php?f=1590
via TSG
No monthly inactivity fee if balance is above $1000.
After registration, you'll have access to two platforms:
1. You may use the IBKR platform known as Traders Work Station (TWS) on both Windows and MacOS.
2. You may also use the platform developed independently by TSG, only available on Windows.

Fees - https://www.tradestation-international.com/...ng-commissions/
Money transfer
These methods have worked in the past:
1. InstaRem: transfer EUR, HKD, SGD to IBKR;
2. CIMB: transfer money (via CIMB transfer or InstaRem or Transferwise) to CIMB SG, from CIMB SG to IBKR in SGD;
3. Transferwise: transfer EUR, SGD, HKD to IBKR;
4. Bank Islam (over the counter);
5. Maybank Internet banking, about $25 for fees.

Not proven yet:
1. BigPay;
2. deposit USD via InstaRem, Transferwise.
Notes:
1. Your IBKR base currency doesn't matter. You can deposit in any currency!!!
2. For live market data, subscription fees may be required.
3. Whether it's account opening or trading or money transfer, it's really not that difficult. Just click, click, click.... and you'll find your way. Nothing is finalised until you click the final button CONFIRM etc etc. So, don't worry!
Special thanks to:
1. Ramjade
2. dwRK
3. Yggdrasil
4. powerlinkers
5. erizdagreat

I need help as I got rejected from IBKR by using Instarem transfer (Maybank) - USD.
Does it mean I only can transfer SGD to IBKR from Instarem?

Which USD 1000 balance is that? The total value of shares held via TradeStation Global, or amount of cash kept in trading account?

I could be wrong, but I checked through https://www.tradestation-international.com/...ng-commissions/ and this website does not mention about the requirement to have USD 1000 balance.

Thank you very much for your clarification, moosset.

Can transfer to IBKR any currency (as long accepted by IBKR) from Instarem except USD.
If want USD, need convert in IBKR after you transfer other currencies (EUR, SGD, GBP).
I don't think TSG has inactivity fee. The picture you show is just for one off account opening.

IB or TS-global?

i tot IB always have charges unless you have big portoflio.

to buy ETF in IB, what persmission do i need to enable?

i tried to buy PSQ but it said i can't buy... lolx

When u transfer euro frm msia bank tt into transferwise: u pay the exchange rate 1st time.

When transferwise received your euro, transferwise receiver bank will charge i think eur25 per transaction if not mistaken, b4 they deposit the balance into ur transferwise acc

Then frm transferwise to ibkr, in ibkr u exchange euro to usd: u pay exchange rate 2nd time.

That is what i mean

Is it possible to use instarem/transferwise to transfer my MYR (convert into SGD) and goes straight into my IBKR account? I will deposit the SGD converted into IBKR's Singapore bank account.

Thanks for the info.

so what u saying is open a transferwise account, then use local bank to transfer MYR and keep it in the account.

Then do a conversion to USD in account based on transferwise rate, then send it to IBKR?

Thanks everyone. Got it!

Now the questions is, which one is better? Instarem vs transferwise Or there are other better alternatives?

Hope to learn more from the gurus here.

Need some help linking my IBKR account to TSG here.
I created my IBKR account first, and then I am trying to link it to TSG in order to save the USD10/month for inactive trade.

Below are the steps required to link:
Sign in to manage your account at Interactive Brokers by clicking Here
Click Go to settings on the menu > account settings > Create, Move, Link or Partition an Account
Choose ‘Move my entire account’ as shown Here
Use Account ID X1234567 and Account Title TradeStation International Ltd in the fields provided.
Click Continue.
Sign the relevant agreements
You will be emailed a confirmation number. Enter that number on the Confirmation Number page, then click Continue.
We will accept your request within 24h and be in contact to set up your TradeStation platform

But I obtained error in IBKR site saying myuserID-> X1234567: The broker account is of a different entity.

Do anyone know where i did it wrongly?

Just wondering which IBKR platform do you all mostly use? TWS, Webtrader or Mobile? I think most serious investors use TWS? But to me it seems so complicated and the UI looks like its was created in the DOS age. I mostly use Webtrader / Mobile only. I think TWS is more powerful and gives you more options as well, but every time I try to use it I'm at a total loss.

Hi, I want to start buying US Stock. But i'm confused on the commission charge by TSG. Can any sifu help to elaborate it? let say stock A price is USD100. I'm buying 10 units =USD1000. So how much the commision charge by TSG? when I sell it whats the charges? let say sell at USD110 for 10 units.
whats the total cost of this buy n sell?

Any sifu wanna share sign up promo code?

Thanks.

I have been funding my IBKR with HKD and converted it to USD to buy US stock leaving a small balance of less than HKD50. But I realised after some time the small HKD balance will become zero. Not sure if anyone of you experience that and why it happened. Thanks for input.

Didnt know this.
Btw, whats your base currency?

kantoi instarem i try 5 times bank in USD to IBKR Citibank USA tak boleh

kata recepient cannot see the 'name and notes'. Instarem insisted they sent the notes.

zz