Yup EUR to Citi Germany. Although this is my first deposit via Instarem and no prior transactions so maybe it's one of the cause? I did hurry them to complete the review not sure if that's the cause

What did you put under the email address?

Contact number and email is your personal one. You only need to make sure the recipient name is correct (Interactive Brokers LLC), Swift Code and IBAN. Others put your own

I honestly have no idea

Yea no worries, just wanna put a warning here that Instarem direct is not a guaranteed way to transfer as they officially don't support it. Try Transferwise or safest way via a Middleman bank to IBKR

Anyone knows what the "Your funds should be available for trading on _ _ _ _-_ _-_ _" numbers represent?

frozen for review

top-up = buy...so just diy lor

to get ibkr to buy for you = broker-assisted trade, fees from $100 up... in this case they don't have trade desk for sg so no go I think even if you have money to burn...lol

OK, thanks for advise.

Thanks everyone.

Man they are really in depth

Email received today

IBKR recently also gives me a lot of problem.....

asking for SOW documents and more ID verification. Sigh...!!

Wtf they vetting out terrorist is it? Lol

Next they gonna reject applicants from Malaysia, reason being our top glove producer are hiring foreign workers as slaves which is against the Human Rights Act.

their normal sop is no 3rd party $ xfers... but no, you all insist keep using transferwise, instarem, bigpay, etc...

lucky don't get banned and reported to FBI... lol

Hi seniors, i have gone through many pages to understand how to open the US trading account and the best platform. i have few questions that i dont understand. hope to get some clarification

option 1:
CIMB MY (MYR) -> CIMB SG SGD) -> IBKR ( SGD >USD conversion in the platform)

Option 2:
Instarem ( MYR>SGD) -> IBKR ( SGD >USD conversion in the platform)

Withdrawal
IBKR ( USD > SGD) -> transferwire (SGD > MYR) -> Msia bank
Q: can we transfer IBKR ( USD > SGD) to CIMB SG to CIMB MY?

IBKR charges monthly fee of $10.
Q: What is whitelabel? what is the use of tradestation Global if TSG & IBKR sharing the same system?

Q: can we transfer IBKR ( USD > SGD) to CIMB SG to CIMB MY?
u mean withdraw IBKR funds? yes u need to sold ur said US equity to USD, then convert in IBKR to SGD, then withdraw to SGD in CIMB SG, then transfer back to MYR in CIMB MY, CIMB SG to CIMB MY rate is decent so far, but not CIMB MY-> CIMB SG

IBKR charges monthly fee of $10.
Q: What is whitelabel? what is the use of tradestation Global if TSG & IBKR sharing the same system?
google introducing broker, introducing broker to IBKR, it involve the business model of whitelabel of one business entity.
it is like asking what is the use of hotel if got agoda, airbnb.

This post has been edited by tadashi987: Aug 20 2020, 06:00 PM

Can. I did it personally myself.

Whitelabels (e.g. TSG) is like an agent that seeks out customers for IBKR.
They might offer different fees targeted at smaller investors.

They profit by:

1) Enjoying rebates/discounts from IBKR
E.g. you only execute 1 trade per month. If your account is under IBKR, it's the usual flat fee per trade.
But if you register under TSG, your account and other people's account may be aggregated and so TSG pay less while charging you the usual rate.
However, they pass on this benefit to you like waiving the monthly $10.

2) Charging you a premium
E.g. when use margin on TSG, TSG charges you IBKR's rate +2.5%
So, TSG profits from the 2.5% premium should you need to use margin.

Thanks! Clear

There is one option to choose do we want to trade.. cash , margin and two more which i cant rmb.. and i picked ‘cash’. Does it mean i need to pay off n+1 day? Or i need to have full amount deposited before i trade for stock?

Need full amount before you can buy.
It's T+2 for most exchanges.

This post has been edited by Yggdrasil: Aug 20 2020, 09:28 PM

So its like msia trading. Need to settle the payment after successfully traded?