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 Interactive Brokers (IBKR), IBKR users, welcome!

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swiss228
post Mar 5 2023, 12:43 PM

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QUOTE(TOS @ Mar 5 2023, 11:34 AM)
Wow. I admire that spirit. At least you are better than those fund managers who just compete among themselves when their funds' product highlight sheets show their benchmark index is the S&P 500. laugh.gif

What's your cumulative outperformance against the S&P 500 since you started your strategy? Can share the number? tongue.gif
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I just checked my IBKR a minute ago. Seems like 1 yr Rate of Return is 22.54%. S&P was down by 12.12 during the same period. Just hope the good stats will keep on rolling for me. .
swiss228
post Mar 5 2023, 01:02 PM

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QUOTE(TOS @ Mar 5 2023, 12:51 PM)
Congrats! So, your "strategy" is only limited to swing-trade?
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Not really. I can hold long term too but if profits become seductive, I take a small portion of my long trades off the table. I got lucky with some short trades too. Fyi, I use micro mini E s&p futures to balance out those short trades as well.
Not too sure whether this is the right forum, but would love to hear from IBKR traders on their relative performance and what strategies they use to enhance their returns. We can all learn from one another. The pt is to beat the market and maximize returns.

swiss228
post Mar 5 2023, 01:22 PM

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QUOTE(TOS @ Mar 5 2023, 01:19 PM)
Woah that's pretty advanced hedging by retail investor standards. Just be mindful of the implicit leverage nature of futures contracts and the fact that interests are paid to your margin account complicates the pricing of futures and hence their use for hedging.

You might be disappointed that most members here are long-term passive investors though. tongue.gif
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Really? I thought Malaysians love to trade. Occasionally, I see fellow traders checking that phone apps to see how their stocks are faring when I am on the MRT, at exhibition halls, or at any other public places.
swiss228
post Mar 5 2023, 03:50 PM

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QUOTE(TOS @ Mar 5 2023, 01:26 PM)
Sorry, I mean members in this thread. tongue.gif

I am aware of FX traders in this thread and US stock traders in the USA Stock Discussion Thread. You may want to check those out.
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Thanks for the tips. Btw, I read yr FT in Goggle Drive too! I think the US stock discussion will interest me more.
swiss228
post Mar 5 2023, 10:30 PM

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QUOTE(TOS @ Mar 5 2023, 09:50 PM)
Now in HK, final semester, final year. Gonna graduate from HKUST this June.

Good news to share with you guys. I received an NUS Masters in Financial Engineering offer (no scholarship) and a 4-year NTU Econophysics PhD study scholarship. smile.gif

My family does not intend to support my study after Bachelor's degree, so I will go for the NTU PhD scholarship. Barring unforeseen circumstances, both NUS/NTU offers will begin this August.

My research topic will be on the "geometrical and topological study of extreme events in the stock markets".

Monthly stipend 2.2k SGD, raised to 2.7k SGD after I defend my thesis in the second year of my PhD study. Monthly expenses will be around 400-500 SGD (200-300 SGD on food, 200-300 SGD for on-campus hostel, assume I am a junior hall fellow). Saving about 2k SGD a month over a 4-year period, upon completion of my PhD can expect to save 80-90k SGD before investment returns/savings interests. rclxm9.gif

And best of all, you guys will have 4 more years of Business Times to read. laugh.gif
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Congrats! thumbup.gif
swiss228
post Apr 30 2023, 10:43 AM

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Hi. I recently received an email from IBKR Client Services mentioning that I can view a annual Aggregated Cost and Charges statement. Just click on Performance & Reports>Statements>Aggregated Cost and Charges.
But I can't see this statement on my portal. Anyone here have the same problem as me?
IBKR said they are required to provide this statement at least annually.
swiss228
post Apr 30 2023, 04:44 PM

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QUOTE(TOS @ Apr 30 2023, 12:26 PM)
After nearly 4 months, the old IBKR UK account is finally closed.

» Click to show Spoiler - click again to hide... «


----------------------
Aggregated Cost and Charges statement is available for IBKR UK accounts only. If you are using IBKR US (IBKR LLC) or IBKR Singapore, you won't see this statement.

I have shifted to IBKR LLC (US account), so I can't verify the issue for you, need to ask other members here who are still using IBKR UK to help verify. Sorry about that.

Source: https://www.ibkrguides.com/reportingreferen...s_statement.htm
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Thanks for the prompt reply thumbup.gif
swiss228
post Jan 18 2025, 05:02 PM

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QUOTE(Ramjade @ Jan 16 2025, 10:22 PM)
Wrong. It's cimb Malaysia/moneymatch (I have heard now cimb malaysia offer good rates for transfer to SGD, have yet to check) -> cimb sg -> IBKR, convert inside IBKR.
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It's not true that Moneymatch gives the best rate all the time. It's best to compare Sunway Money, Wise & Moneymatch rates by opening all 3 Google tabs simultaneously. That way, we can shop for the best rates.
swiss228
post Jan 19 2025, 12:34 AM

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QUOTE(watermineral @ Jan 18 2025, 10:47 PM)
Hi just bought my first cspx or first etf last weeks. But would like to know people here favor us domicile or Ireland domicile etf? Looking for something like SCHG and SCHD but in Ireland domicile. And wonder what is good to pair with CSPX.
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I bought SPLG coz i read they charge the lowest fees. I also have CSPX and VUAA as well. The problem with the Irish domiciled ETFs (listed on LSE) is they follow UK opening hours so those quotes are no longer real time during NYSE opening hours after 12 midnight local time. So, if you are one of those that update portfolio on a real time basis, you will be at a disadvantage if you buy Irish domiciled US etf. One more advantage of buying US domiciled etfs is that the trading fees are lower.
swiss228
post Jan 20 2025, 02:18 PM

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QUOTE(JusticeLeagueMY @ Jan 19 2025, 05:25 PM)
Waitaminute - IBKR has a Citibank SG bank account number? I didn't know that!!

So, I have to go IBKR, set up a transfer in IBKR and choose to transfer from Singapore to get their SG banking details?
Is that where I should get them?

OMG! To think I have been using SWIFT for the past 2 years and paid high fees  doh.gif  ranting.gif
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Is your IBKR base currency in SGD or USD? If it's in SGD, should be easy: no fees!
swiss228
post Jan 21 2025, 11:12 PM

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QUOTE(JusticeLeagueMY @ Jan 21 2025, 07:32 PM)
My IBKR base currency is USD at this moment.
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I would suggest you change yr base currency to SGD. If you have a Spore bank account, transfer funds in SGD to IBKR. If you need USD for trading, then use the internal IBKR conversion mechanism. I used this method since I opened my account 4 years ago. I am quite sure IBKR internal conversion rates are the best: this I learnt from the sifu who started the lowyat IBKR forum.

swiss228
post Jan 21 2025, 11:19 PM

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Btw, I like to find out from fellow traders here whether they prefer to use Trader Workstation Live Trading or the Client portal website when they access IBKR? Personally, I never use the Trader Workstation but I like to find out from traders here who do. Your insights/tips would be very much appreciated. TQ!

This post has been edited by swiss228: Jan 21 2025, 11:20 PM
swiss228
post Jan 22 2025, 01:09 PM

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QUOTE(JusticeLeagueMY @ Jan 22 2025, 09:58 AM)
I prefer IBKR mobile. Otherwise, IBKR via web browser.
TWS is too complicated. Need a lot of set up. Unless you are doing Day Trading, I think simplicity is the best.
Thanks Medufsaid. You are always very informative and helpful. Since we are at the topic of SGD, I would like to invest in some SG Banks like DBS or UOB, just to diversify, and enjoy better dividend yield. I don't think I can invest through MBB SG, which I have. In MBB SG, I can do Unit Trust only. So, the other idea is to do it via IBKR. Is there a better way or IBKR is still the easiest (since I already have IBKR for a few years)
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I use IBKR mobile too. I agree; simplicity is the best
Why not buy EWS in IBKR, instead of individual stocks? Ever since I started using IBKR, I have become a firm believer in ETFs, esp those listed in US as trading fees are low.
The only thing I worried about using IBKR is what will happen to my funds if I die unexpectedly. bye.gif I access IBKR with face recognition so....
swiss228
post Feb 3 2025, 10:03 AM

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QUOTE(Medufsaid @ Jan 31 2025, 12:56 PM)
you can actually open a joint IBKR acct with your spouse. Or transfer stocks position back to Moomoo Malaysia. Now there's promo in moomoo MY for free iPad if stock transfers exceeds RM200k
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Thanks. Will consider it.

swiss228
post Feb 19 2025, 12:38 AM

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QUOTE(fuzzy @ Feb 16 2025, 12:13 PM)
Hello all.

I'm interested to explore IBKR as my main account. I'm currently on an SG platform but I feel the fees has remained high so it's eating into my general trade profits.

I have some questions:

1) I do purchase ETFs like VUAA on a regular basis, can someone advise me on the fees as I seem to get different answers via Google.

2) Does it make sense to transfer all my current holdings to IBKR, or just leave things as it and just start to buy shares in IBKR moving forward. Anyone has any idea if the fees they charge?

3) Is there any difference if we are to transfer a relatively large amount (say 1mil) one time vs in tranches?
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1.I am using IBKR as my main trading account.
From my statement, I notice trading 10 VUAA will cost me usd1.91 in fees/comm. There was once I bought 122 VUAA, and the fees charged were usd5.91.
How much IBKR charges you also depend on your Account settings. They have different tiers, I can't remember which tier I am on, but if you read the forum pages, you may find some good tips from other investors.
2. As far as I know, not only IBKR gives the most competitive rates, but they give the best currency exchange rates within the platform.
3. But beware that IBKR, being a US based company, may apply estate duty taxes on US shares, should anything happen to you. So, if you have a million $ in your account, the estate duty may be hefty, as the estate duty exemption is only $60,000. Just remember, don't exceed $60,000 on US situs assets. Btw, I reckon you probably know that VUAA is UCITS compliant, and therefore, not subject to US estate duty.

This post has been edited by swiss228: Feb 19 2025, 12:41 AM
swiss228
post Feb 19 2025, 01:14 PM

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QUOTE(fuzzy @ Feb 19 2025, 12:47 PM)
1 .Yes, the fees are based on %, so I just wanted to confirm.

2. Moving cost to IBKR should be free from IBKR side, but the current home side is expensive, so I dont think it makes sense to move it after my review.

3. More likely I'd just open the account and start to buy from there, and remain the current one unless they start to change some inactive fee.
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Yes, make more sense to start afresh from IBKR rather than transfer from one broker to another.

swiss228
post Mar 12 2025, 07:32 PM

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QUOTE(dwRK @ Mar 11 2025, 05:03 PM)
1. will be usa

2. estate tax
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I think default is US.
And, I think, the estate tax only applies to the US situs stocks you hold in your portfolio. Estate tax does not apply to the entirety of your stock portfolio. The estate tax exemption for US situs stocks is usd$65,000, anything above that is subjected to a 40% tax.
swiss228
post Mar 12 2025, 11:24 PM

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I login IBKR via Face Recognition method and I know no other method other than this. I never use the login/password method, so US estate duty may apply if my estate writes to IBKR for withdrawal of funds & assets. So, I play safe and will buy only Irish domiciled US ETFs.

This post has been edited by swiss228: Mar 13 2025, 12:28 AM
swiss228
post Jun 25 2025, 10:57 AM

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Anyone in this forum tried Interactive Forecast Trader? No fees. I am trying out the E-mini S&P 500 forecast. Any feedback from fellow traders?
swiss228
post Jul 3 2025, 10:56 AM

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Hi. Recently I updated some settings on my IBKR account, and was asked to give my Mysian tax no to them, as well as uploading documents like ic and proof of address. Just want to know you whether we can refuse to submit our tax no to them?

This post has been edited by swiss228: Jul 3 2025, 10:56 AM

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