Actually i quite agree with one of the bros above that the info flow on the first page is quite massive and anyone new to ibkr would find it confuse....i copied tis link from the first post by ts, not sure if this is the whitelabels that everyone is referring to, but it seems that min trade is usd1.5?
https://www.tradestation-international.com/...ng-commissions/

On a separate note, i read some in this thread that ibkr lite is not applicable for singaporeans or malaysians right?

Thanks Ramjade. So in summary, it means if you trade more than 7 times in a month then pure ib tiered pricing is good, if between 7 to 10 times then can consider pure ib fixed pricing, and if 6 transactions and below in a month then better choose Tradestation global. I think ib tiered is good for my case cause i easily trade 10 times in just a day.

Btw, i just initiated the ibkr acc opening, doesnt seem there is an option to choose tiered pricing. I suppose i can choose it when i execute the trade?

Hi all. Need your help.

I don't have sg account. All my banks are in Malaysia at the moment.

My IB account has been activated, so is it best for me to approach local bank to do transfer wise to IB? But where's the details for me to send fund?

I don't trade often. Maybe once a month. And I hate monthly charges purely for maintanence.

Appreciate your help in this matter. Thanks

Yes. I've tried reading the thread but at 75 pages and for newcomers, it gets a little tough.

The one you've mentioned is cimb. And honestly i have 6 bank accounts in Malaysia for various purposes but no cimb. And I dread to maintain one more.

Do you recommend Maybank sg. I have a maybank 🌟

I noted on your concern on the higher charges if insisting on using malaysian bank.

I will check out trading212. Thanks a lot.

But may I ask. Why do you prefer IB than trading 212 if the latter is cheaper. Just a simple few reasons will do.

Cheers!

A quick question guys, do they offer any options trade via IB?

Thanks, Ram, you have been very helpful.

The current ones are there for various reasons, somehow that's just the situation. Yes, definitely will find ways to trim my accounts.

Thanks, I will figure out CIMB. But you did say you won't convert is back to MYR one day, does it mean when you sell your stock one day, you will keep it as SGD?

Thanks also for the reasons given. I will have a look at trading 212- maybe more suitable for me.

Regarding Trading 212, those with TW Borderless Account should be able to use it without dealing with the high transaction costs/fees of local banks right?

Too bad I don't have the TW Borderless Account. I signed up only after they removed Malaysians eligibility.

I have both the TW account and trading212. Will try and update you all...but not so soon.

Hello Sifu,

Is it free if we use spore bank fast transfer to interactive brokers spore citibank acc?

Read from a blog article stated we can try transfer sgd100 first to check whether we got it right.
Thank you.

Question:
1. Can withdraw funds to bank account or must go back to BigPay?
2. Live market data for US, Canada and Europe?

Bros, if you transfer money through InstaRem/Transferwise out of Malaysia, is there a certain threshold before they notify Bank Negara? Another question would be if you withdraw your stock gainz in to sg bank account, is it considered taxable income by LHDN?

1, not sure to be honest. haven't tried
2, yes, think so
yup ur right..wrong info

Hello Sifu,

Even if we use the dividend reinvest program, our dividends still taxable by US? Any way to avoid the 30% dividend tax ?
Thank you.

I had opened the IBKR trading account thru website.
problem come when i try to TT telegraphic transfer the fund the trading account.
the excused given by uob. ocbc and maybank malaysia is the account that receive the fund must be your name not interactive broker account
is this even possible bank negara made it so difficult to transfer the funds out of malaysia.
If I go to blackmarket and do them, there will be some repurcusion eg CRS or OECD which you need to answer to LHDN despite all the funds is legally acquired.

is there anything that i filled wrongly?

IBKR Is listed in the US but trading212 is not. i would be worry of my funds safety despite they are FIDC insured if the company is us based.
Per transaction London Stock Exchange thru maybank is horrandeous it cost me 600 gbp per trip of in and out. unless you have good volume you are likely to lose money

kindly elaborate abit here. how to use singapore banks?
do you mean i need to open up uob ocbc or dbs in singapore and transfer funds from malaysia to singapore 1st before sending them to IBKR?

i use to think that since 2000 been sending hkd and remembered that good old day 1 rm can exchange 2.55 hkd.
those fund become a problem when they ballooned as i swing traded some bank shares and china mobile back them from transfered 600,000 hkd it swelled to hkd 5 million in 10 yr. ( traded hsbc and sold at 140 hkd, after that position trade china mobile and banking stock) they give fat dividend and potential upswing when you buy them right.
problem really start when you have huge funds outside malaysia in 2016 they started something call oecd or crs common reporting system where by all account start to ask you TIN tax identification numbers. last year alone i know more people been invited to Lhdn to explain the source of funds you need to keep the bank statement ready back to genesis. most bank singpore bank dont have such details and they are charging 50sgd permonth. where as most hk and us bank account statement is given out free.
Honestly singapore account is not the best but they are ease if you live in malaysia.

Have you tried transferwise direct into ibkr recently (eur/gbp/aud/hkd/sgd)? Read some where rumours ibkr will query since 3rd party. I didn't encounter any issue last month myr to gbp but haven't tried since.

yes 50sgd per month if you want to trace back all the bank statement from uob singpore. meaning sgd 600 for 1 year of bank statement. and 6000 sgd for 10 yr of statement.
imagine my account opened since 1987. having offshore account back then is peace of mind. in today it give you nothing but trouble.

Honestly I havent heard of transferwise direct.
so who should I approach? maybank?

wondering will SG banks question for 3rd party when u perform the step instarem/bigpay/transferwise -> SG bank?

and may i know the reason why u dont just instarem/bigpay/transferwise (in SGD) -> SG IBKR?

which is the cheapest ROUTE in transfering myr to ibkr? if not TT.
MYR --> SGD --> IBKR ?

I see if whitelabel is costing more then pure IB, i will rather stick it with IBKR. my intention is funding 100kusd
I been position trading for years. lately been pretty active in 3 market hk, uk , and us market.
honestly permonth i trade more then 10 position. if you include 3 -4 or 5 market that is not an issue for me

i see..

another quick one.. does that mean its fine to TT from m'sian bank (acc under my own name) in MYR.. exchange into USD.. direct to IBKR in USD? IBKR acc under my own name as well.. since there's no 3rd party involvement here..

and i do understand this step have to go through the crappy exchange rate and high bank charges

Hello Sifu,

May i ask how we should convert sgd to usd?.... using TWS , or just using the app? or client portal?
If using TWS.... Should we use idealpro or fxconv?
Some youtuber said must use fxconv but some said the other way round 😅
Please help thank you.

Guys how do we go about withdrawing funds from IB to CIMB? Do I need to convert back USD to SGD then transfer to CIMB Sg?

Or do I just withdraw straight in USD without currency exchange to CIMB SG?

Also, can withdraw directly into CIMB MY? How do I go abt this , someone help😅

Big pay has served me well. Their MYR/SGD rates are always almost close to google’s rate. And then convert to USD via IBKR is cheap too.

Basically can reach within 1 day if transfer before 5pm (will receive the money in IBKR before US market open the following day)