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 Interactive Brokers (IBKR), IBKR users, welcome!

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TSmoosset
post Aug 21 2020, 04:47 PM

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QUOTE(theberry @ Aug 21 2020, 02:26 PM)
So now I just open an cimbsg and tw first ?
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Yes. With those 2, it should be sufficient.

You can deposit SGD to your CIMB (SG) via Transferwise and then CIMB (SG) to IBKR to avoid IBKR questioning your funds, requesting extra paperwork etc.

You can directly deposit other currencies to IBKR via Transferwise, but then IBKR might request for more paperwork to deal with the AML rules.
TSmoosset
post Aug 22 2020, 02:34 PM

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QUOTE(HolyAssasin4444 @ Aug 22 2020, 02:07 AM)
I've got their Everyday Global Account, can send directly via Wire but the forex rate bloody expensive even with a Premier account. Not recommended use Transferwise instead
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can receive USD in HSBC or not?
Thinking of withdrawing USD to a local bank, and possibly transferring USD out of the bank to IBKR again.
TSmoosset
post Aug 22 2020, 10:42 PM

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I'd like to know what fees are involved if one transfers USD from their HSBC multi-currency account to IBKR ...

Please report back if anyone has tried it.
TSmoosset
post Aug 25 2020, 11:32 PM

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Edited first post about EUR transfer via InstaRem.
TSmoosset
post Aug 30 2020, 09:52 PM

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QUOTE(United Rulez @ Aug 30 2020, 11:25 AM)
Anyone knows why Tradestation keep sending me emails asking me to "fund minimum required amount to receive access to Tradestation Platform."

I am already using IBKR, funded and trading with no problems so far.  hmm.gif
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maybe their system didn't detect the first time activation? just email them....
TSmoosset
post Sep 7 2020, 08:42 PM

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QUOTE(Ziet Inv @ Sep 7 2020, 08:26 PM)
$1000 balance is cash only or $1000 in total assets/holding?
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net asset with ibkr.
TSmoosset
post Sep 7 2020, 09:15 PM

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QUOTE(cyrogx6 @ Sep 7 2020, 08:52 PM)
Hey guys, I've opened IBKR
And im trying to fund my account, yes i saw many post on funding IBKR via CIMB SG, Instarem ETC ETC

anyone of you have tried to do a FTT from CIMB straight to IBKR US ?
FTT
MYR > USD straight to IBKR account

My first try i got rejectec
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can try maybank online banking.
TSmoosset
post Sep 10 2020, 08:57 PM

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QUOTE(night1218 @ Sep 10 2020, 01:14 AM)
Hi boss,just wanted to ask the monthly charges of USD10 in IB can contra with the below right?

user posted image
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QUOTE(night1218 @ Sep 10 2020, 03:37 AM)
OKOK thanks taiko. Looks like im moving to pure IB. this 2 days i already close to USD10  sweat.gif
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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.
TSmoosset
post Sep 10 2020, 08:59 PM

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QUOTE(eddie2020 @ Sep 10 2020, 12:19 AM)
Btw, how you guys maintain the SG CIMB? if i leave it SGD50 will they close my acc? I already send in more than 1k SGD as first transfer, i can straight take out right?
If no transaction will it become dormant ? like bank in malaysia some 6 month no transaction become dormant some 1 year.

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I keep $0 SGD there.

I only use the account from time to time. tongue.gif
TSmoosset
post Sep 11 2020, 09:10 PM

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QUOTE(Yggdrasil @ Sep 10 2020, 11:35 PM)
Yeah but I'm using example to explain marginal benefit so can illustrate better.

If I use 1.5% then,

IBKR0.09%+1.5%=1.59%
TSG1.59%+2.5%=4.09%

Your monthly statement will look somewhat like:

DetailIBKRTSG
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.
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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. icon_idea.gif
TSmoosset
post Sep 15 2020, 11:28 AM

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QUOTE(echoesian @ Sep 15 2020, 09:18 AM)
Just curious why we can't transfer USD straight into IKBR using TransferWise?
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I feel like pointing this out for a long time d .... it's IBKR = Interactive Brokers, not IKBR. tongue.gif
TSmoosset
post Sep 16 2020, 08:59 AM

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QUOTE(edwynkim @ Sep 16 2020, 12:05 AM)
Dear Sifu,

I am just started to use IB, I read that some said transferwise can be use to transfer money to IB, but some defer. I tried to used it, but i found no where i can key in my reference code in transferwise. Can we use it afterall, if cant, can anyone suggest any best cheapest way? Thank you
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there is ... as posted by the user above - when you review your transfer before finalising your transfer.
TSmoosset
post Sep 20 2020, 09:57 PM

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QUOTE(MBCH @ Sep 20 2020, 03:36 PM)
10 USD
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from hsbc everyday account to IBKR, $10?
or from HSBC multi currency acc?
TSmoosset
post Sep 26 2020, 07:10 PM

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QUOTE(TOS @ Sep 26 2020, 05:47 PM)
Received login credentials and details of the EGM from CMT just 2 hours ago.

Singaporeans are so hardworking. They even work on Saturday afternoons! laugh.gif

I like CMT's IR department, very friendly and helpful. And they are quite responsive towards minority shareholders like me. Good investment target.
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what's your average price on CMT?
TSmoosset
post Sep 26 2020, 10:28 PM

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QUOTE(TOS @ Sep 26 2020, 09:18 PM)
1.82 SGD, so currently earned around 6-7% plus another 2% or so for dividend.

user posted image
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wow!! Your Keppel DC at such a low price!! Great timing!! thumbsup.gif thumbup.gif
TSmoosset
post Oct 2 2020, 07:14 PM

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QUOTE(LostAndFound @ Oct 2 2020, 04:28 PM)
I just funded my IBKR account, waiting for transfer (FAST from CIMB-SG) to go through. May I ask if this balance is cash balance held or total value of portfolio?
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It's always the total value of the portfolio.

Only margin interest is based on cash balance.
TSmoosset
post Oct 10 2020, 01:35 PM

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QUOTE(SiLuMaNiaX @ Oct 8 2020, 05:07 PM)
Done. It's my firewall. Thanks
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I didn't encounter that problem.

Does it mean my computer doesn't have a firewall, and it's dangerous for me to use this computer?
TSmoosset
post Oct 13 2020, 11:53 AM

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QUOTE(dwRK @ Oct 13 2020, 10:25 AM)
what intermediary bank info did you provide? did your ibkr withdrawal also kena $25 intermediary bank fee?

my digging found the following swift intermediary/correspondent banks...but dunno what it means and how it function

for malaysia - hsbc, pbb, rhb
for usa - amex, bank of new york, citybank, habib american, chase
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did you withdraw USD to HSBC?
TSmoosset
post Oct 14 2020, 04:35 PM

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If you have transferwise borderless account (the one with a bank account detail), you can try IBKR > Transferwise (EUR) > Malaysia.
TSmoosset
post Oct 17 2020, 04:11 PM

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QUOTE(zhuanko @ Oct 17 2020, 03:19 PM)
Guys, I have IBKR Pro and I was thinking to be in some US stock for long term. I'm starting small and dollar cost averaging on the stock that I like.

However I'm wary on the fees as described below.

Trading Fee:
• IBKR Pro: $0.005 per share; minimum $1 and maximum 1% of trade value; volume discount available.

Account Fee:
• IBKR Pro: $10/month commission minimum for accounts with $100,000 or less, and a $20/month commission minimum for accounts with $2,000 or less.

if I understand correctly,
1) We need to maintain the account with money value (not in stock position) at least USD20 per month.
2) If we like to waive the account fee, trading fees have to add up to USD20 per month?

Correct?
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If you choose tiered pricing, it would be cheaper. Min $0.35 per trade.

1) no such thing!
2) to waive the monthly fee, min trading commission is $10 with total liquidation value (total asset with ibkr) above $2k.


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