I wanted to do DCA but I can't find the date of my last transaction. Anyone knows? I can't find it on TWS.

If I go through the portal and click transactions, there are only transactions for deposit / withdrawal. I want trading transactions.

This is a minimum activity fee of USD 1.00 in the base currency of yours (SGD)

It only applies to small balance accounts

You can find detailed information here:

https://www.interactivebrokers.co.uk/en/index.php?f=38234

And my balance is around 1k usd . Attach below is the screenshot given to me
Fees waiver for first 3 months. For my case which means July to Oct. And fees will be charged if balance less than 100k usd. Based on my understanding

Looks like you were hit with this - Broker Client Account min liquidation value < USD$1000


Did you have on the dot USD$1000 equivalent of SGD during account opening? USD.SGD might've fluctuated and you ended up with < USD$1000 on certain periods

I am using tradeglobal station. My acc is idle. Didnt do ant trade yet

There is a dot. 1-2usd surcharge.  I have added another 20usd.. Let c is there any charges for next month

I have 2 questions.

1) I opened a TradeStation account but it lead me to IBKR.
After I opened IBKR, I was unable to follow the instructions to convert to TradeStation. I made a trade and both TradeStation and IBKR emailed me about the transaction. TradeStation also said thank you for funding via TradeStation. Is it safe to assume my account is under TradeStation?

2. Do I have to trade under TradeStation or I can use IBKR like usual to enjoy TradeStation fees? For some reason I don't know how to use TradeStation.

This is just my opinion, and I could be wrong. But, I did transfer some money to my Singapore savings account, without any issue, and it should work.

From Instarem Malaysia's point of view, you are a "Singaporean staying in Singapore", who owns CIMB Singapore FastSaver savings account under your name. So, just choose Singapore, as the country of residence of the recipient, and it should work.
I am wondering whether we, as Malaysians, can open Instarem Singapore account, so that we can send SGD, to our savings account in other countries (other than Malaysia and Singapore).

Let's assume that a Malaysian already has a Instarem Malaysia account, is working and staying (renting a room) in Singapore, with employment pass.

With the employment pass and an address in Singapore, can this Malaysian open Instarem Singapore account? In other words, Instarem Malaysia account and Instarem Singapore account coexist under the same person.

So, a Malaysian with Singapore employment pass can register an Instarem Singapore account, using another e-mail address. During Instarem Singapore account registration, that Malaysian can submit a photocopy of Singapore employment pass, to be verified by Instarem Singapore, right? That is good.

Yeah, I am same as you, and are not working in Singapore. However, it is good to know how to register for an Instarem Singapore account, in order to transfer SGD to savings accounts in other countries.
Then again, Instarem should be aware that we Malaysians cannot use Instarem Malaysia account, to transfer SGD.

Back to my example, the person is a Malaysian citizen, so the person is qualified to have an Instarem Malaysia account. And, this person is working in Singapore. So, with Singapore employment pass and Singapore address, this person is also eligible to get an Instarem Singapore account.

Having an Instarem Singapore account is needed to transfer SGD.

Otherwise, without Instarem Singapore account, how can a Malaysian working in Singapore transfer SGD? For this example, let's assume that we do not use Transferwise. Let's try to get everything done, within Instarem.

Instarem PTE Limited (the holding company of InstaReM subsidiaries such as Instarem Malaysia and Instarem Singapore) should give Malaysians the ability to transfer MYR and SGD, within single unified Instarem account, provided that these Malaysians have the necessary identifications in both countries. The same goes for any nationalities who have identifications in two countries.

This single unified Instarem account can be used either as Instarem Malaysia account, or as a Instarem Singapore account.

I converted HKD to USD and now that transaction still shows in my portfolio USD/HKD. How to remove it?

Normally how long would it take to get TSG account approved ya?
My application and my funding was done around 28 Nov, until now it's pending status...

hi all sifu sifu, my IBKR account just approved. May i know how can i check whether is white label or not? because when i open account, there's no product for me to choose.

thanks!!

I kinda understand the algorithm, but I'm sure about the fees. TradeStation Global also didn't mention anything about this algorithm fees.

Hello, Sifu

Need some advice on the margin requirement@IBKR.

As I saw, if I send money to IBKR(in SGD) I dont convert to USD.
Rephase: Means, I keep my cash in SGD, but trade with the (visual) amount in USD, (the column in Total in USD)

I compare against buying power & the Inital margin also not much changes(Total in USD).

Hence, Why we want to convert ? Keep SGD also good mah, can save X-rate commision fees ...

please advice if  IBKR occurs hidden charges, if I trade with SGD?

Two quick Q here.

1. May I know how can we exchange SGD in IB into USD please?

2. For those open account via TSG, do you use IB app or TSG app for trading and why?

Hi guys, having gone thru this thread, the most popular way to transfer funds to IBKR seems to be:

instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD/HKD)

A couple of questions:

a) must it only be SG CIMB Fastsaver? Would SG M2U account work in this case?

b) What if I already have my funds in USD account in MY, what you reckon wld be the best way to transfer it into IBKR US? At first I though of doing MY bank (USD Acc)>TransferWise>IBKR (I have encountered problems in the past when trying to transfer direct from MY bank to IBKR). Then I thought this would not save me any money coz the cost to transfer to TransferWise would be the same if I transfer directly into IBKR.

Do u know if they accept TransferWise in any other currency if not USD? Because their FAQ states;

"While it is possible to deposit funds from this money transmitter, the transfer would need to meet the following conditions:

    The funds would need to originate from an account titled the same as the IBKR account;
    The deposit payment details would need to include your account ID and title.

Based upon prior experience, Transferwise generally does not include the required information in the payment details and, if this is the case, the funds will be returned as unidentified."

OK, will find out if this is a viable option. Need to find out if can open USD acc in SG. I have SGD acc with Maybank. Will enquire with them first.

Wanted to ask, why don’t just transfer USD from a local bank USD account to Interactive Broker?

Got through with Bank Islam. It might boil down to your declaration, I don't trade forex and only shares .

I needed to cover margin call in a short time period, sent around 2 pm(Malaysian time), funded by 8pm(malaysian time), before US markets opened.

I would have looked for other options if time was not the essence.
IB charged me around US$20 for a transfer(probably citibank USA for the wire-the US$20 fees is additional to Malaysian local bank fees. ) and rates were not as competitive as CIMB MY>CIMB Singapore>IB transfer method.

wow!! Of all banks, bank Islam? very unexpected! 

is it internet banking or over the counter?

true, bloody expensive due to their exchange rates.

what is the cheapest method in your opinion to withdraw money from interactive brokers to Malaysia?

I have gone through the threads, suggestion being: IB(SGD)-> CIMB(SG)->CIMB MYR -- > Just wish to clarify whether this is the cheapest method with the best rates?

I have been using Maybank for my USD trades. True that the brokerage is a bit high. Recently i found out that i can use Transferwise to transfer USD to their local USD account to cut a bit on the foreign exchange conversion.

IMHO the fact is the brokerage fees is really negligible if you take into account the price movements of the stock from one minute to the next... but then every cent saved is still money right..

I am trying to explore using IB/ Tradestation Global now. After what i read in this thread, basically we can't use Transferwise/other fintech services to transfer direct USD to IB right? It seems like a lot of trouble to do the multi currency conversion process (to SGD or other currency). And you have to use the same process for withdrawals right?

My questions to those who have been using IB

1) Are you allowed to make a trade before funds are in? (up to certain amount based on your existing assets). Local broker usually allows that but it usually has to settled within next day T + 1 (used to be T + 2)

2) How long the funds transfer process usually take (based on your low fee multi currency approach) to go into the IB account?

Reason is have you ever consider idle cash sitting in IB's account while you wait to make a trade? These funds have
an opportunity cost e.g. interest bearing when placed in your loan flexi account.

Ok thanks for the insight. Have you transferred any stocks to IB before from a local Malaysian broker? What are the charges if any?

I should also think of disposing them through IB now

So to confirm can transfer SGD directly to IB (SGD) using instrarem without a need to open a SG acc?

nope. funds must be available before trading

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?