nope. funds must be available before trading

now I understand

... ask your local investment bank lor...

wah .... looks like I'm the poorest of us all in this forum.
My US stocks' commission is always $1.

if can, I'll abandon my M'sian stock broker immediately.


Refer to post #312.

even for margin acc? Then what's the use of margin acc?

Don't know the charge. No charge from Interactive broker site. But sure Malaysian site will charge hefty amount.

Not sure. Never try. Not going to try. Don't want my money to stuck in limbo.

Actually can. Kena charged interest only for margin account.

margin account means you have 2x buying power...say you have $5k cash...you can buy up to $10k of stocks... ib will create a $5k loan for you

if your stocks drop in value...your account value drops and so does your buying power...your $5k loan is now too "high" and ib will auto liquidate some of you stocks

iirc... if your margin account drops below $1k or something ...it automatically change to cash account

but there's no interest free T+2 like local brokers? Ceh ....

got pattern day trader regulations as well... can't trade more than 3 times per week if you have less than $25k in margin account

This post has been edited by dwRK: Feb 17 2020, 09:23 PM

Have you tested whether MYR to SGD or HKD give better rates, before you convert it back to USD in IB? Since HKD is pegged to USD..

you mean MYR > HKD > USD vs MYR > SGD > USD??
hard to compare different currency pairs .... I think they are about the same since HKD & SGD are just intermediary.

I tried to sign up for Instarem but got stuck at the picture verification page coz it couldn't work on my mobile phone! (iphone)... doesnt give much confidence to trust your money with them..

What about Transferwise SGD to IB?

This post has been edited by andrewlimkn: Feb 17 2020, 11:26 PM

oh... my experience with InstaRem was quite smooth. I also think it's better because it automatically redirects you to the bank, rather than doing a separate bank transfer. Rate wise, InstaRem is often better especially from MYR.

I haven't tried transferwise with SGD since InstaRem has better rates. I think it would work, as long as it's not USD.

Or just open CIMB SG.
CIMB MY > InstaRem / TWise / CIMB transfer > CIMB SG > IBKR.
It could also serve as an acc to receive money back from IBKR (although you could probably receive money back to your TWise borderless account).

What the hell? Stuck because of using iPhone and refuse to trust it?
Come on. There's a reason most transaction should be done on a computer.
If you like paying more to banks be my guest.
All this time instarem have serve me very well.

Chill man. I was using computer but it asks for photo verification without upload so have to use camera. So i tried on my mobile but couldn't work. Just surprised that they haven't tested this properly yet. Finally it worked when i used my laptop

This post has been edited by andrewlimkn: Feb 18 2020, 10:31 AM

I just opened a multi currency account at HSBC. How do you guys transfer the USD money to the IBKR account?

Not mistaken you can't.

Go to your account management then try to initiate a transfer from USD.
They only accept US banks and banks that have IBKR as their bill pay.

I selected Bank Wire transfer, it generated a reference number for me. But from my HSBC account, I can't seem to find a way to transfer to my IKBR account

so far, most of us can't transfer USD into IBKR, but I guess it's worth a try.

Did you try telegraphic transfer? If not, ask HSBC.

I tried using Instarem to wire SGD directly to IB... it works. Realised i need to enable the currency conversion permission to convert i supposed

And also, how do I check whether this is indeed the Tradestation Global account?

This post has been edited by andrewlimkn: Feb 21 2020, 02:36 PM

permission?? FOREX is auto enabled.

for different stock markets, options, bonds etc, you'll need to enable it in the settings.