As at now, 1 MYR = 0.2082 EUR or 0.327 SGD or 1.7784 HKD.

so how to compare which is better?

I disagree. TWS is quite user-friendly already. Anything more than this would make TWS not advance enough.
You want to put all the features in but don't want to see all the buttons? Or you want these buttons to be hidden? Or you rather lose certain features?

most of us are not subscribed to the market data on IBKR.

You can compare to Big Pay and Transferwise each time you make a transaction.
Sometimes it can give different rates at different time and amount.

The platform is great. It's dark black making me feel like a pro day trader ready to earn $$$
Yes you have to pay if you want live data. Otherwise, it's not available or delayed.

For me, when I want to buy something, I use MarketWatch to see the current price.
Alternatively, I can just use market order.
(Note: Market order should only be used on liquid stocks. Otherwise, you might be paying $100 for a $10 stock).

I mean, if you want to day trade, you should subscribe to it. If you're so cheapskate about the fees, you're not ready to face the losses of day trading.

I tried using Market Order with IBKR......but some message came up not allowing me to do so. But can enter LMT order. Why ah?

You should be able to. You need to press accept when they warn you about Market Order.
It is dangerous for low liquidity stocks.

Market Order means "fill Immediately at best price i.e. guaranteed execution, no guaranteed price"

For example, take a look at this stock.

People willing to buy at $2.22 but the only seller is at $199999.99.
If you want to buy this stock and used Market Order instead of Limit Order, you will buy the stock at $199999.99

Ok Thx. I will try again. Will need to call CS if it does not work.

Just sharing some interesting features when placing orders.

1) Display size

Hidden means your order will be sent to the exchange but hidden from others.

Why use this? It's meant to cut queue when placing BID/ASK order without people knowing.
For example, let's say the BID/ASK is $2.50/$3.00 and you want to buy this stock.
If you queue at $2.51 BID, people might cut your queue by placing $2.52.
You must then change to $2.53. The other person might change to $2.54.

However, if you place a hidden order at $2.51 when the BID/ASK is $2.50/$3.00.
If someone sells at market order, your order will be executed at $2.51 before $2.50.

Disadvantages? Stocks are matched by prioritising PRICE > DISPLAY > TIME.
Meaning if you put a hidden order at $2.50 instead when people queue without hidden, the non-hidden orders will get executed first even though you placed the hidden order earlier.

2) Market on close

Usually we don't use this and it's institutional investors who manage funds who use this.
Mainly applied to BUY orders.
You may ask but why use market on close when you can likely get a better price if you buy before market close?
Reason is they do not want to reflect any gain/loss on the transaction.
Meaning if their accounting books close at 31st Dec and they want to buy a stock that fluctuates between $9~$10, buying at close means there will be no gain no loss.

I hv been using a Malaysia broker and IG to trade Mini HSI and e-mini DJI futures contract. all these brokers give me all in one access for market data but then ofcoz the downside is commission, for emini DJI the Malaysia broker charge me $6 while IB only $2 ( if I read it correctly). and IG is a CFD broker not a real future contract. The low commission tempted me to move to IB.

back to the market data, IB charges only about $10 for US market ( level 1 + level 2) and can be offset against commission. however for HK market data the fee is about HKD 400 a month, and can not be offset against commission. I am still learning hard what is level 1 and level 2 and not sure yet if I understand them fully. looking at the fee I m thinking continue with my Malaysia broker for HSI and use IB only for US market...

anyone here us IB to trade futures appreciate it if you could share your thoughts.

Thanks

did you find out the problem?

Not yet. Lazy to call. Focusing on Malaysian market now because MYR already depreciated that it's not really worth it and I'm not ready to play with options

Hi

I want to sign up IB. If I am not mistaken, there was referral program going on. If there is, could existing holder introduces me and we share the referral fee?

Private message me if there is such a program.

park

Urgent. Anyone here knows whether CIMB SG allows to TT USD to MYR CIMB MY? Or they only allow SGD to MYR?

should be no problem if you have a USD account with them. just whether the rates are good

Cause I remember they said the USD account can only transfer to other CIMB. Not sure if CIMB MY is included.

should be like normal remittance i guess... sgd to usd...-> wire -> usd to myr... but why wanna go this route

Holding USD now. Got 2 routes. USD is shorter route but I'm not sure if they allow.
USD -> CIMB SG (USD) -> CIMB MY (MYR)
USD -> IBKR (SGD) -> CIMB (SGD) -> CIMB MY (MYR)

USD -> Transferwise USD -> CIMB MY (MYR)?

This post has been edited by zenquix: Mar 19 2020, 05:28 PM

I second this!

Hmm but it seems that converting back USD to SGD via IBKR then back to CIMB SG to convert to MYR seems cheaper.
Weird. I'll check again.

usd to sgd is no doubt cheaper, but SGD to MYR?