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 Interactive Brokers (IBKR), IBKR users, welcome!

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silverwave
post Dec 12 2020, 03:19 PM

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Hi, a little clarification on Transferwise (although a bit off topic). For my first transfer, the fee was quite low and i think discount was applied. For the second transfer, fee seemed higher for a lesser amount. Is there like a discount only for first time users?

Secondly, i've noticed that if i use a link that is shared from others, both will get the discount as well? Is this for an unlimited times to use?

Still a noob with all these tongue.gif

This post has been edited by silverwave: Dec 12 2020, 03:26 PM
silverwave
post Dec 12 2020, 04:23 PM

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QUOTE(polarzbearz @ Dec 6 2020, 12:05 AM)
Literally fresh from oven laugh.gif there's a video (post above) and also written guide (below):
Step-by-step to getting started via TradeStation Global (Interactive Brokers)
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Just followed all the steps below and at last it's done, phew! Thanks, Gracie for all the hard work in compiling.

Now I'm just waiting for the acknowledgement from IB regarding the funds receipt.
silverwave
post Dec 13 2020, 11:29 PM

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Hi, in my main screen i can see the cash but in the picture below it does not show under 'available to trade'.

Something wrong or still need to wait for it to reflect?

user posted image
silverwave
post Dec 13 2020, 11:49 PM

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QUOTE(polarzbearz @ Dec 13 2020, 11:36 PM)
What's the currency you hold currently in IBKR? Is it SGD? IBKR won't auto convert into USD for you, you'll have to do it manually (and each currency conversion is min $2 commissions, so do in bulk).
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Yea, in SGD. Oh, i didn't realise that i need to convert because the "Your Portfolio" is already reflecting in USD. tongue.gif


silverwave
post Dec 16 2020, 04:01 PM

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Hi, i just received my TSG login and in the website there are some steps to follow and change the setting in TWS. Is this necessary since i have not used the TSG login (the one given via email)? Screenshot as shown below.

I have no issue to login into IBKR via web or phone app.

user posted image

user posted image

This post has been edited by silverwave: Dec 16 2020, 04:20 PM
silverwave
post Dec 20 2020, 04:32 PM

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QUOTE(Ziet Inv @ Dec 20 2020, 04:00 PM)
Total Liquidation Value > USD 2.5k.

Means Cash + Stocks + ETFs + whatever assets summed up
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Hi Ziet, the reply i got from the customer service on 11th Dec is slightly different, unless he is wrong biggrin.gif

Apparently if a new account is funded within this month, the minimum to open the account is USD 1k. From January 2021, it is USD 2.5k.

To avoid the inactivity fee, it is still USD 1k.

This post has been edited by silverwave: Dec 20 2020, 04:32 PM
silverwave
post Dec 20 2020, 08:34 PM

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QUOTE(Ziet Inv @ Dec 20 2020, 05:41 PM)
Yeap, the reply I got is USD 2.5k for 1st Jan onwards. But some of my viewers got imposed the USD 2.5k minimum even when they signed up last week, but they e-mailed TSG to request for exception and successfully got USD 1k exception until end of this year. A little bit messy, but yeah.

Interesting on the inactivity fee, 1K applicable until end of this year? or maintain even after this year?

Thanks for the info and cheers!
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For the min to open, in my case i asked directly whether it is USD 1k or USD 2.5k, so he said for this month, still USD 1k.

On the inactivity fee:
My question to CS: There is a minimum amount to avoid a fee of USD 1 per month if it drops below the minimum level. Will that be USD1000 or USD2500 from January 2021?
The reply: The minimum to not incur in the 1USD inactivity is 1000.

I hope he replied correctly tongue.gif

Hope it helps!
silverwave
post Dec 22 2020, 09:42 PM

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In IBKR, does it show any notification to say the currency is converted?

Secondly, if i want to test and place a trade at a much lower price and later cancel/amend it, will there be any charges?
silverwave
post Dec 30 2020, 11:32 PM

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Hi, how can i fill the W8 BEN form for IBKR? I don't recall them asking me to fill when i set the account.
silverwave
post Dec 31 2020, 10:19 AM

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QUOTE(polarzbearz @ Dec 31 2020, 12:37 AM)
Should already be part of the application tho. It was one of the many checkboxes included during application sign up hmm.gif
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Is it? May be i've overlooked. Thanks. biggrin.gif
silverwave
post Jan 3 2021, 09:49 PM

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Is it possible to make a transfer directly from another US broker (eTrade) to IBKR?
silverwave
post Jan 27 2021, 11:33 PM

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QUOTE(cucumber @ Jan 27 2021, 11:30 PM)
Just wondering, did you manage to open an account without a passport? Mine is expired too.
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IBKR or eTrade?
silverwave
post Jan 27 2021, 11:38 PM

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QUOTE(cucumber @ Jan 27 2021, 11:35 PM)
IBKR, I'm planning to open through tradestation global
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IBKR can use IC (or may be driving license), no issue. eTrade is stubborn, they want non expired passport only.
silverwave
post Jan 28 2021, 12:53 PM

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If i recall correctly, to do day trade we need a min $25k in the trading account, is this a IBKR rule or US law?
silverwave
post Feb 8 2021, 10:54 PM

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QUOTE(yshour @ Feb 6 2021, 11:59 PM)
Hi All. Does TSG accept wire transfer from another US broker? I have stock option in Etrade (employee stock plan account), I am thinking to sell some and transfer the fund to TSG after I open account.
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Hi, once done, do share the steps required, i have the same option in Etrade and am planning to move to it TSG/IBKR as well. biggrin.gif
silverwave
post Feb 11 2021, 01:16 PM

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Hi, so the benefit of withdrawing to a SG bank account instead of directly to a MY bank account is to save on the handling fee + unfavourable bank exchange rate?
silverwave
post Feb 16 2021, 11:11 PM

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Hi, where can i see the dividends in IBKR?
silverwave
post Feb 16 2021, 11:17 PM

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QUOTE(polarzbearz @ Feb 16 2021, 11:13 PM)
For preceding years: Report > Tax > Dividend Report
For current year: Report > Realized Summary > Year To Date > find 'dividend' in that report (expand all)
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Thanks, will check it out.
silverwave
post Feb 18 2021, 10:18 PM

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QUOTE(yshour @ Feb 18 2021, 10:12 PM)
1) make notification at IB that you want to make a inbound position transfer to your IB account from Etrade:
    - logon to account management, transfer position
    - choose FOP, fill up Etrade account info, no. of shares to transfer

2) initiate position transfer at Etrade
    - logon to etrade, download the Employee Stock Plan Outgoing Share Transfer.pdf under Forms & Applications (the "submit online" feature is not working)
    - Fill up the form. DTC number for IB is 0534
    - Before submit the form, need to print out form, sign, and scan. I don't have printer, what I did is use Adobe reader sign, convert pdf to jpg (or other format) then back to pdf again.
    - To submit the form, go to Customer Service -> Upload Documents
   
For my case, it tooks 5 business days to complete the transfer. I am able to sell it when the stocks are available in IB account. Hope it helps.
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Actually what is your reason of moving the stocks? Initially i thought you sold it and wanted to move the capital only to IBKR.
silverwave
post Feb 18 2021, 10:42 PM

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QUOTE(yshour @ Feb 18 2021, 10:37 PM)
Transfer stock to IBKR is free of charge. Transfer fund need $25.
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I see, i plan to transfer the cash after selling the shares in etrade. Hopefully it is easy.

This post has been edited by silverwave: Feb 18 2021, 10:43 PM
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