compare with sunway money also you can save further with either of these steps

1. if your IBKR is cash account type (and not margin type), don't need to convert to USD, just buy and IBKR will auto convert from SGD to USD @ a fee of 0.03%. if you are buying something more than USD6,666 then ok, just manually convert it for USD2
2. cash & margin type can invest using IBKR recurring investment. IBKR will convert without any charge

u can compare Moneymatch sending USD, and also Sunwaymoney sending USD. but don't expect it to be cheap

annoymous1234 i don't think so. that's between you and London Stock Exchange. not between you and USA

james.6831 malaysians cannot buy from IBKR

Malaysians cannot buy IBIT on ibkr. Use Moomoo

if you are one of the lucky ones who bought IBIT in early Jan 2024, you can still buy it now. but IBKR has shut the door to other malaysians/singaporeans who didn't buy in during that time. i'm one of the lucky ones. the only other one i know was a singaporean on reddit, also bought in early



for malaysians who didn't buy $IBIT before, u can try to buy it now, see if IBKR restricts you. they restricted by March/April i think, and i believe still restricted bcos i know of a sinkie who wanted to buy IBIT options but can't do it on IBRK (IBIT options introduced recently only)

This post has been edited by Medufsaid: Dec 18 2024, 08:53 AM

Duckies is your IBKR a cash account or margin account?

Duckies you can either

1. open SG bank account to deposit SGD into IBKR, or
2. convert to EUR and then send to IBKR. EUR due to these reasons
   1. (cheaper than converting USD)
   2. can send to IBKR directly for free. if you send USD to IBKR, wise charges USD1.13 per trx

as you are on cash account, all EUR/SGD will be automatically converted by IBKR into USD for a fee of 0.03% only

any EUR/SGD cash balances less than USD5 will be auto swept by IBKR into your base currency (USD)

This post has been edited by Medufsaid: Dec 26 2024, 01:30 PM

that's basic math. USD1.13 is RM5.05

0.03% of RM1,000 is RM0.30 (equivalent in EUR or USD)

Duckies $VUSD is a distributing ETF. i recommend you just go for VUAA which is accumulating type. i recommend you buy something like $IVV/$VOO (USA based ETF) for 11 months, then sell all and buy $VUAA on the 12th month. fees for LSE etf are as below, make sure to set your pricing to tiered

This post has been edited by Medufsaid: Dec 26 2024, 02:52 PM

please refer to my table, assuming you switch all from VOO to VUAA once a year, you only pay $0.34+$0.68+$1.02 aka $2.04 in taxes yearly only. u either pay that, or you can pay $11 in the form of higher transaction fees (LSE etf) to IBKR https://www.etfstream.com/education/investi...stributing-etfs

VUAA & VUSD same tax.

just that with VUSD, the quarterly dividend will be given back to you as USD cash. then you'll have the hassle of buying back VUSD shares with the dividend cash (0.35% given back to you as cash quarterly)

Duckies you already know the answer to this

my method is convert to EUR, send to IBKR as EUR. and use IBKR internal conversion to convert to USD for a fee of 0.03%

MYR will be converted to USD within Wise, not IBKR. that's how the USD1.13 fee to enter IBKR comes about

kanasai CIMB Malaysia? Why not open a Wise account? Can withdraw USD, convert to RM inside Wise, then transfer out to TnG ewallet

kanasai wise very fast to open and validate acct. That's why I suggested that rather than open Cimb sg

If you opened yesterday, can already withdraw yesterday

This post has been edited by Medufsaid: Dec 31 2024, 12:54 PM

NothinUnusual you'll notice that beside 0.54% fee, there's additional USD1.13 deducted (haven't factor in the 5.5% that IBKR will charge you) https://wise.com/my/pricing/hold-fees?sourc...getCurrency=USD "2 units of VUAA it has USD 1.7" yes it's correct as you are buying LSE stocks where min charge is USD1.70-1.90

to get charged more that that you need to buy more than USD3k worth of stocks

This post has been edited by Medufsaid: Jan 1 2025, 11:28 AM

NothinUnusual you are paying USD1.13 extra bro. that's RM5. USD100 becomes USD101.13, USD1,000 becomes USD1001.13 (you'll still only get USD100 and USD1,000 respectively). if you send EUR, you only need to send EUR1,000. not EUR1,001.13

This post has been edited by Medufsaid: Jan 1 2025, 11:57 AM

JusticeLeagueMY as long as the account holder name is identical, no issues if withdraw to Singapore bank.

you'll receive a warning if you used IBKR purely to exchange money (i.e., deposit to IBKR, straightaway change currency, straightaway withdraw). if you've been trading for some time, then convert from USD to SGD & withdraw, it's fine

JusticeLeagueMY deposited via wise, withdraw to SG bank account. no issues, and not direct forex convert+withdraw

kanasai follow these steps

1. make sure you already have a USD balance in your wise account, if not, create USD balance by adding
   
   
   
   
2. click to make sure you have USD bank details
   
   
   
   
   do not proceed if there are still no active details yet
   
   
3. go to IBKR site, select withdrawal, and pick USD, and transfer to wise balance. You should be asked to link wise with IBKR
   
   
   
   
4. you should be able to see your wise USD bank details here. This will prove that wise+IBKR is successfully linked
   
   

once you successfully withdrawn USD to wise account (might take 1-2 business days), you can convert to MYR and then topup your tng ewallet via Wise debit card

This post has been edited by Medufsaid: Jan 5 2025, 02:49 PM