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 Interactive Brokers (IBKR), IBKR users, welcome!

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Ramjade
post Jul 15 2020, 08:42 PM

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QUOTE(Raymond_ACCA @ Jul 15 2020, 05:30 PM)
For international transfer, it’s RM20k daily, RM30k monthly. I slowly pump in money everytime after I sell some bursa stocks lol.

The RM10k limit is between local bank to big pay.
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How do you deposit in rm20k?
I tried rm30k but was told by bigpay fox only accept rm10k (top-up)

This post has been edited by Ramjade: Jul 15 2020, 08:42 PM
Ramjade
post Jul 18 2020, 10:33 AM

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QUOTE(normanTE @ Jul 16 2020, 11:57 PM)
Guys there is some problem with IBKR they dont provide free market data for their client. we need to subscribe to it with a monthly fees. there is no free lunch i suppose. no wonder their trading fees is so low.

since i have account with tdameritrade so i got free data from there. but buy and sell thru ibkr
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You don't need market data. Lots of website having free market data especially for US market.
Ramjade
post Jul 19 2020, 10:06 AM

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QUOTE(normanTE @ Jul 19 2020, 09:50 AM)
wondering why when i place order the commission fees is not shown anywhere?
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Click preview.
Ramjade
post Jul 19 2020, 01:10 PM

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QUOTE(normanTE @ Jul 19 2020, 10:25 AM)
their hkse stock brokerage fee is not cheap if compared to us market shares tier pricing
But compare to Maybank or even hsbc hk their trading fees is minimal 170hkd this is considered a steal.
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Is cheap. HKD45 is cheap. Majority of HK brokerage charges HKD150-200/transaction.

This post has been edited by Ramjade: Jul 19 2020, 01:11 PM
Ramjade
post Jul 20 2020, 07:45 AM

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QUOTE(Chanching @ Jul 20 2020, 02:04 AM)
Hey guys so for every buy and sell of shares I see 1.5 commission fees..What does that exactly mean? Like 1.5 usd charge per share bought?

Or like per trade? So lets say if I buy 100 shares of a stock, will I be charged only 1.5 usd for the entire order OR 1.5 per share?

Can someone help me clarify this haha?

Btw another post mentioned regarding subscription to market data, how do we know if we’re subscribed or not and if were charged monthly?
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Per transaction.
Go into settings. By default it's turn off when you open account they will ask you if you want to subscribe.
You can check monthly transaction report.
Ramjade
post Jul 26 2020, 10:22 AM

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QUOTE(willylwl @ Jul 26 2020, 09:05 AM)
Hello Sifu,

We can use spore bank local fast transfer to fund our IB acc without any additional transfer fees.

Does anyone have a better route to fund webull or firsttrade account?
For every transfer, our local bank will charge high conversion fees + Rm10 and US bank will charge Usd20....

Please help and thank you very much.
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Bigpay is the only option.
But you will be hit with withdrawal fees unless you don't intend of bringing money back.

That's the reason I use interactive broker only. It gets the job done without getting hit with expensive fees and markup exchange rate as I can convert using interactive broker into SGD at spot rate.
Ramjade
post Jul 26 2020, 05:47 PM

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QUOTE(rafurap @ Jul 26 2020, 10:47 AM)
Guys, may I ask which brokers can you recommend for investing stocks in US market (for non-US citizens)?
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Interactive broker if you have USD100k or can generate USD 10/month in trading commission or else you will be charged USD10/month inactivity fees.

If you cannot furfilled the USD100k worth of asset or USD10/commission, go with whitelabels of Interactive broker.
The recommended ones are tradestation global.

See first page for more info.
Ramjade
post Jul 27 2020, 06:51 AM

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QUOTE(Chanching @ Jul 23 2020, 11:49 PM)
Guys, I have been Swing/ day trading for few weeks now. And the cash not settled w 2-3 days wait is making me lose of on good profits 😖

Do you guys recommend margin acc? The thought of ‘borrowing leverage’ is scary to me cuz Im not familiar w it..

Anyone here as a trader mind sharing your experience on margin? Like whats the pros & cons you encountered?
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You can give trading212 a try and see if that solve your problem.
Issue is depositing money and withdrawing money going to eat into your profits as bank rates are markup + additional TT fees.

QUOTE(Hohenheim @ Jul 26 2020, 10:23 PM)
Hi all,

I read the first post already, need some help here.

1. I am not a a frequent trader, so i cant maintain min 10USD brokerage fees monthly, the the only viable way is to register Tradestation and deposit min 2K USD( i checked website it is no longer 1k)?

2. Tradestation only allow trading after live data enable? How much should I pay for live data for NYSE and NASDAQ?
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Yes.

Not really. You can even trade without live data. I am doing that but since I am buy and hold investor live data is of no consequences to me.
How much to pay us listed in IBKR website.
https://www.interactivebrokers.com/en/index.php?f=14193

Ramjade
post Aug 4 2020, 01:02 AM

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QUOTE(keenauto @ Aug 4 2020, 12:10 AM)
Just wondering, usually how long does it take to get whitelable IBKR account approved (funded)?
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If you upload all the required documents and fund it, you can get within a day. I got mine the very next day.
Ramjade
post Aug 6 2020, 06:30 PM

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QUOTE(teen08 @ Aug 6 2020, 05:39 PM)
If I have a IBKR account. Can I still use TSG to offset the 10 usd fee?

Edit: ibkr lite is better or whitelabels Like TSG
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Nope. Unless somehow you transfer into the IB linked with TSG. Whether IB let you do that, I don't know.

IB lite only US citizen and India citizens
Ramjade
post Aug 7 2020, 01:32 AM

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QUOTE(echoesian @ Aug 7 2020, 01:06 AM)
Since the website is the same as IKBR, how does it differentiate between IKBR and Tradestation? I just wanna make sure my account is under Tradestation and not IKBR to avoid the monthly charges...
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If you open account using TSG ,then it's under TSG.
It's inside there when you generate your reports.

QUOTE(echoesian @ Aug 7 2020, 01:09 AM)
Is there a way to switch existing IKBR Pro account to lite?
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See my reply.
QUOTE(Ramjade @ Aug 6 2020, 06:30 PM)
IB lite only US citizen and India citizens
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Ramjade
post Aug 7 2020, 12:03 PM

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QUOTE(TOS @ Aug 7 2020, 08:11 AM)
I would like to subscribe to the OCBC scrip dividend scheme and top up my odd lots to become round lots.

Any idea how to do that in IBKR? Wait for election notice? Or we send them an email first?

https://links.sgx.com/FileOpen/OCBC_Applica...t&FileID=626663
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There's option available in IBKR. You have to login to your IB client portal and check notification.

Once it's there it will show up under corporate action. Form there I don't know if we key in 100% or the number of shares we want.

This post has been edited by Ramjade: Aug 7 2020, 12:03 PM
Ramjade
post Aug 9 2020, 12:05 AM

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QUOTE(teen08 @ Aug 8 2020, 11:50 PM)
Not sure. That’s why I asked. Saw the option on their site. Was told I this forum it’s for USA & India.
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Got. Beocme US citizen or India citizen. tongue.gif
That's the only way for now.
Ramjade
post Aug 9 2020, 06:57 PM

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QUOTE(erizdagreat @ Aug 9 2020, 02:49 AM)
The status in your picture seems to indicate the date 31 December 4712 as the expected completion date. So slow, that's why I just use bank transfer instead.

Perhaps resident instarem expert Ramjade can help you out.
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I don't deposit straight into IB using instarem.
Ramjade
post Aug 11 2020, 10:32 PM

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QUOTE(h0lycha0s @ Aug 11 2020, 08:58 PM)
Just had the exact same thing happened to me. Please update here if it has been resolved?
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Nothing to advise.
Just reply their email and give them whatever proof they of transaction, bank statement they want.

Important to show them where money is coming from.
How did you do your transfer.
Ramjade
post Aug 15 2020, 02:01 PM

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QUOTE(night1218 @ Aug 15 2020, 02:42 AM)
I have not funded my account, but i notice im getting delayed data. Is it because i have not funded my account yet so they are not showing me a real-time data?
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That's normal. They want you to apt for real time data. I don't even bother with real time data. I just use investing.com for it.
Ramjade
post Aug 18 2020, 09:30 AM

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QUOTE(HolyAssasin4444 @ Aug 18 2020, 12:50 AM)
Alot of sifus here approve of Instarem so hehe I just follow. But planning to use Transferwise once I finish the points as TW is officially supported by them. The slight better rate on REM not worth the risk imo
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Nowadays instarem price not good like last time.
Ramjade
post Aug 18 2020, 11:44 PM

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QUOTE(eddie2020 @ Aug 18 2020, 11:03 PM)
i see, without live data it will be delay? normally you guys all buy live data? or which platform is user friendly?
I play to trade shares for US / SG
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You can pay for the data.
Alternatively open tiger broker/TD. Both of them have free real time data.
Ramjade
post Aug 19 2020, 10:03 PM

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QUOTE(jutamind @ Aug 19 2020, 09:40 PM)
Thanks for the feedback as I've emailed TSG last week but haven't got their reply at all.

Did anyone think of legacy planning, ie what happens to your money in IBKR if you're ko?
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Give username and password to family members or open joint account.
Ramjade
post Aug 19 2020, 10:51 PM

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QUOTE(Yggdrasil @ Aug 19 2020, 10:27 PM)
Hmm. But I still think Sunway is currently cheaper. You get more foreign currency for every RM you put in.
If don't bother about the rates because a company can give good rates but charge higher fee. Another can lie to you by charging low fee but give unfavourable rates.
So the best way to measure is how much input (RM) you put in gives you how much output (foreign currency).
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Need to go Sunway to open account right or can be done online?
Yup that's what I use too. I don't care what rates or fees you are charging me. I only bother about final amount of foreign currency I am getting.

QUOTE(Yggdrasil @ Aug 19 2020, 10:32 PM)
Assets should be divided as dictated in your will (after settling relevant taxes if applicable).
Make sure your executor knows about it.

Alternatively, you can opt for a joint account instead. So if you KO, the other can takeover
Just like a fixed deposit in a joint account i.e. 'either one can sign'
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For US a bit hard not sure if need to have US will. Best way is still use joint account. Give username and password to family.

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