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😊
Interactive Brokers (IBKR), IBKR users, welcome!
Interactive Brokers (IBKR), IBKR users, welcome!
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Sep 11 2020, 11:08 PM
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#21
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Probation
26 posts Joined: Mar 2020 |
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😊
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Sep 12 2020, 10:55 AM
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#22
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Probation
26 posts Joined: Mar 2020 |
QUOTE(Yggdrasil @ Sep 11 2020, 07:18 AM) 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. Thanks for the insights. I wanna try paper trading shorting pennies. What do you mean by buying leveraged ETF btw?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. 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 |
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Oct 24 2020, 10:31 PM
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#23
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Probation
26 posts Joined: Mar 2020 |
Hi lowyaters! Important question here. I know previous post talked about tax but I’m still friggin confused.
So I understand that we dont get taxed for stocks held over a year on US stocks . But what about if youre daytrading on US stocks I get taxed? If so, how do I go about paying the tax? And how much percent? Do I only pay when I withdraw to my Malaysian account? Sry for the newb ques on tax cuz Im still a student haha. Thanks in advance! |
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May 17 2021, 02:56 PM
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#24
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Probation
26 posts Joined: Mar 2020 |
How long is it taking for you guys to withdraw from IBKR to CIMB Sg?
Cuz it’s taking quite long for me.. still havent received in my CIMB SG acc.. not sure if I sent to wrong CIMB bank address or not gg.. Does it take days or supposedly only few minutes/ hours? Thanks in advanced 😭 |
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