Ramjade I saw the option to link my IB acc with TradeStation global.

If I trade with TradeStation now, can I change to pure IB later?

Oh ..... I totally forgot that it was Transferwise bank acc that will transfer money to IBKR, not me.

but then, now Transferwise has USD bank acc details for users, which mean, the bank acc is under my name.
So technically, it is me that transfer money from my Transferwise bank acc (under my name) to IBKR?? If so, then I don't need to transfer money to SG already.

Is memang link already

Your choice. You can trade via tradestation program or IBKR website/program. Up to you.

For me I sign up via Tradestation global, then everything from customer service, buying, depositing money all I use IBKR website/deal with IKR. I never even bother about Tradestation global apart from opening account time.

Wrong. Transferwise will transfer under their name. Not yours. Recipient side will see Transferwise name and not yours.

This post has been edited by Ramjade: Oct 4 2019, 04:24 PM

ah, yes. You're right. The acc details with my name can only be used to receive USD, can't be used to send USD.


"Your bank details to receive USD

Use your bank details to receive USD from friends and businesses."

Quick check with everyone. What are the alternative platform other than IBKR platform?

You are wrong again.
You can use transferwise to send USD. Question is if receiver gside got issue with third party name. If no issue, your transfer will go through.

Yes, transferwise can of course send USD; but I'm talking about the Transferwise physical bank account details for transferwise user.
I've USD bank account details provided by Transferwise to receive USD, that account doesn't send out USD, I think. If it does, then it should be in my name.

The italic part is copied from the transferwise website.

That account doesn't send USD but when you send USD, it's deducted from that USD account.

Ramjade

While waiting for my tradestation account to be approved, I've a question.
The min trade for TradeStation is USD5, while IBKR charges USD10.
So, if I trade twice a month, then IBKR is actually ok?

Now I think about it, M'sian brokers are also not cheap.
if buy RM 10k stocks, RM 10 clearing + RM10 brokerage + 0.03% + VAT, also about USD5.

I don't know where are you getting USD5 and USD10. Tradestation only charge you min USD1.50
https://www.tradestation-international.com/...ng-commissions/

There's a different between tradestation and tradestation global. Tradestation global is the whitelabels of IB.

For pure IB is only USD0.35.
https://www.interactivebrokers.com/en/index...=1590&p=stocks2

Nope Malaysian broker more expensive. Higher markup exchange rate vs spot exchange rate.
Quaternary platform fees.
Dividend fees.
You do that maths again.

$1.50 vs $1.00 IBKR fixed fee, $0.35 tiered fee for US stocks

If trade 2x per month but commissions <$10 and account <$100k... ibkr will charge you $10 for every month onwards... so $120 fee per year for small account investors hehehe

This post has been edited by dwRK: Oct 9 2019, 08:17 AM

Finally got my TradeStation Global acc approved.

It seems I could transfer USD from IB to Transferwise (USD bank acc), but I'm not sure how to transfer MYR to IB. I'm trying now to see if it works.

Any updates on this? Looking to make my first deposit and want to know if there’s a better way than bank wire transfer

I have IB account. I did TT from my hong leong account to my IB account. no problem

Keep in mind over long time you will be bleeding lots of money to banks if you use TT to interactive broker.

Off topic newbie question here. Is IBKR the cheapest for trading US stocks as a Malaysian (stocks not ETF)?

Also, what is the fee per trade? I see different quotation from different websites.

With zero commission war between brokers for US market I think Charles schwab is the winner.
The question is whether you can open it as a Malaysian or not.

If you cannot have access to those zero commision brokers, then yes interactive broker is the cheapest.
If you op for pure interactive broker and if you choose tiered pricing (the cheapest option) is few cents per transaction. If few cents I won't even bother counting.

If you have no money for pure interactive broker like yours truly and op for whitelabels (rebranded version of interactive broker by other companies but still interactive broker), it cost about USD2-4 depending on which whitelabels are you using.

If you're using pure IBKR (US) and not via another party, then I think it's possible. There are some info on another forum.

But I'm using a whitelabel and that IBKR is UK based, so it doesn't seem possible. I've contacted both Transferwise and IBKR regarding this:

From transferwise,


From IBKR,

Does anyone know whether Tradestation and IBKR allow people to buy 1 unit of US stock? Usually its 100 units right?

I wanted to build a portfolio of FAANMG stocks but some are so expensive that I can only afford 1 unit.

One more thing. What is the minimum amount in USD we need to open an account? I saw it says need minimum 10,000USD?