suddenly so complicated...

Anyone tried using SGD?

yes, but as Ramjade mentioned, use tiered pricing and it can be as little as $0.35 per trade.

each currency exchange is $2, which also can be deducted from the $10.

I keep $0 SGD there.

I only use the account from time to time.

quite a voluminous requirement for the buy and hold type ya

i see.. thanks for the detailed advice

I thought their margin is about 1.5%?
https://www.interactivebrokers.com/en/index.php?f=46376

This post has been edited by Ramjade: Sep 10 2020, 11:03 PM

Yeah but I'm using example to explain marginal benefit so can illustrate better.

If I use 1.5% then,

IBKR	0.09%+1.5%=1.59%
TSG	1.59%+2.5%=4.09%

Your monthly statement will look somewhat like:

Detail	IBKR	TSG
Minimum commission	$10	$0
Finance cost	$(4800 x 1.59% /12)=$6.36	$(4800 x 4.09% / 12)=$16.36
Total cost	$16.36	$16.36

Therefore, the benefit of TSG = benefit of IBKR if you borrow $4800 (assume not other transactions).
If borrow >$4800 p.a (12 months like ASB loan), use IBKR.
If borrow <$4800 p.a., use TSG.

This post has been edited by Yggdrasil: Sep 10 2020, 11:35 PM

Ok got it. Thanks.

How much margin as a percentage of your ELV do you typically use? I stick around 30-35% but not sure if I should up it anot

probably can further expand into a borrowing vs trade plot...

also ppl with cash account can't borrow

nevertheless good lateral thinking here bro

If you feel you won't get a margin call, you can up.
But higher your margin, higher chance for margin call.

Not using any now because markets are a bit high for my taste.
The maximum I will borrow is 30% or the value of annual salary.
I'll choose the lower figure.

--edit--
ah nvm.. saw option to send SGD on previous page.. haha sorry for being noob.


Hi guys, my CIMB sg account has been activated and now want to transfer fund to IBKR. Currently my IBKR is still pending activation, waiting for fund transfer.

Can anyone advise if to use the Bank Wire or Connect Your Bank method? I click on the Bank Wire method, and it seem to ask for USD instead of SGD.



This post has been edited by Cyclone1: Sep 11 2020, 01:12 PM

Additional point: for IBKR, the $10 monthly fee can be used to offset your commission, i.e. your monthly commission up to $10 is already included in this calculation; while for TSG, your commission won't be $0 for that month if you make any trade.

Anyone here hv experience shorting stocks on IB? Minds sharing what’s it like and how do you go abt it? And some advice would be nice😊

You can sign up for paper trading account to play with whatever you want with virtual money. You can reset and keep on trying weird strategies.

I haven't shorted because too risky but shorted using the paper trading account.

First, you need to check whether the stock can be shorted. Then, check how much they charge to short. If the stock is illiquid, sometimes you pay very high interest to borrow the stock. If it's liquid, you pay very little interest.

When you short, you get money since you are borrowing stock to sell and then receive cash. You can leave the cash or use the cash immediately.

Caution: If you short and stocks go up, you can get burnt. Many got burnt shorting Tesla. Also, if you short and company declares dividend, you must pay the shareholder the dividend from your own pocket.

There are other ways to short safely/limiting risk. E.g. buying puts or buying leveraged ETF that short.

wonder anyone ever tried to withdraw from ibkr directly to ur m'sia bank account? say USD to MYR

tried to withdraw to my mbb account but required corresponding bank info before allow to proceed.. basically its not enough to just input ur bank details (name, account number, swift code, etc).. anyone encountered this hiccup before?

Thanks for the insights. I wanna try paper trading shorting pennies. What do you mean by buying leveraged ETF btw?

Also, I know that US citizens got PDT rule, does that apply to us Malaysians that trade US stocks?

Like if I use margin under 25k, will I get restricted? Any info on this ?thx

I don't suggest shorting penny stocks because they are not liquid, hard to borrow, and risky.
Can easily get margin call.
There was a person who shorted a pharmaceutical penny stock and got burnt because Martin Shkreli suddenly bought the company.
https://www.investopedia.com/articles/inves...gative-106k.asp

Paper trading is alright since it's not real money.

A better word is inverse ETF, not leveraged (although inverse can be leveraged).
Basically it shorts the underlying but the maximum you lose is the amount you put in.
Also has its own risks.

Yeah PDT rule should apply if your account is less than that amount.

Anyone here using HSBC foreign currency account?

Wonder what's their opinion of it, comparing to other local banks on bringing back fund from USD.