I know you are a coffee lover dwRK, here's something for you.

stalker you...

yeah... all commodities hitting the roof after covid...

I don't long them futures... in case I forget to close, will end up having to take delivery 17 tons of beans... lol

Thanks to this forum I just opened an IBKR account and got it funded through my Singapore saving account.  Now still trying to understand more before starting my investment with IBKR. 
I have some Hong Kong stocks invested through DBS Vickers Singapore for which they are charging quarterly custodian fees and dividend handling fees, may I know whether IBKR imposes any custodian fees for Hong Kong stocks and what are the dividend handling fees, if any?  If IBKR does not charge any custodian fees I am considering transferring my Hong Kong stocks to IBKR and appreciate your advice.

Hello.

There are no custodian fees for HK stocks (except if you want to hold physicsl certificate deposit or if you have foreign HK depository receipts) and no dividend handling fees.

https://www.interactivebrokers.com/en/index.php?f=14718

As for transferring to IB, you need to decide on fees and commissions, ease of usage of platform (IB is a bit dull and for more "serious" investors, others you can consider are like Moomoo, Tiger, uSMART, FSM, POEMS, etc.), customer service, platform stability/downtime, and the financial health of the broker itself, for the more astute investor.

Hope that helps.

Hi, thanks for your prompt reply.  I am more of a buy and hold type so would like to minimize the investment costs such as the custodian fees.  I just check DBS Vickers is charging a commission of 0.18% (min: HKD80) while IB is charging 0.05% (min: HKD18) per trade so obviously IB has lower cost.  I just have to figure out how fast and costly is it to transfer my HK stocks to IB.  Else I am think of selling off my holdings with DBS Vickers and buying back in IB.

IBKR does not charge for transfer-in positions. https://www.interactivebrokers.com.hk/en/index.php?f=48276

The transfer out charges comes from DBS Vickers. https://www.dbsvickers.com/vickers/pricing/hongkong.page

If your IB account is not based in SG (IBKR UK/US), possible transfer out charges will be 30 SGD per counter + "out-of-pocket expenses". You should contact DBS Vickers to clarify on the charges first. I am not sure if there are other charges like stamp duty on potential documents or GST from the SG government side.

Response from SKAT - Received 04.05.2022 09:58

Dear [my name].

Thanks for your mail of 2 May 2022.

Danish companies are as a rule obliged to withhold 27% in dividend tax.

From 1 April 2017, claiming a refund of Danish dividend tax must be submitted via Danish Tax Agency`s digital form. This appears from section 5a (1) in consolidated act no. 147 of 4 February 2015 concerning digital communication in the Ministry of Taxation, cf. consolidated act no. 1571 of 12 September 2016 concerning amendment of consolidated act on digital communication in the Ministry of Taxation. From the act, it appears that a request for a refund of withheld dividend tax must be submitted through the digital channels referred to by the Danish Tax Agency.

The digital form directed to by the Danish Tax Agency can be found on our website: www.skat.dk ? at the bottom under Other Languages; English ? at the bottom under Help & Resources; Forms ? English ? 06 Tax; dividends, royalties and withholding tax on interest payments ? 06.030 EN Claim refund of Danish dividend tax ? Open digital form used for claiming refund of Danish dividend tax.

You will need to submit the claim for a refund of dividend tax using the above digital form. Please be advised to attach documentation proving that the requirements for a refund have been fulfilled. The rules are stated in section 69b of the Danish Withholding Tax Act. To read more about the digital form, please visit www.skat.dk ? at the bottom under other languages; English ? at the top; Businesses ? Companies and foundations ? Declaring and paying dividends and dividend tax ? refund of dividend tax - Click here for further information and to make a claim for refund of dividend tax.

We will forward a receipt when the digital application has been received.

Best regards


Helle J Gregersen
Skattestyrelsen
72221818

Skattestyrelsen er en del af Skatteforvaltningen

guys, i got a enquiry.

can a CASH account sell cash covered put option?
can a CASH account sell covered call option?

the reason is because i got a reply from interactive brokers. i did informed  that i need option trading capabilities.
here is an quote from the email that i received
the reason i ask here because:
1. they didnt state anything about options
2. i am worried about their restriction on selling options  (whether cash account can sell cash covered put option and sell covered call option?)
3. their reply is slow

Yes. But you need the cash required to pay for 100 shares as collateral and it will be frozen until the options expired worthless or you buy back to close.

Not sure if you can get use cash as collateral for covered calls. The idea of covered call is you have 100 shares to back it up.

i apprentice your advice.

by the way, your signature's quote is very enlightening....

Danish tax authorities have responded.

This should be case for both:

(i) dividends from Copenhagen exchange listed shares
(ii) dividends from the Danish ADRs (e.g. NYSE: NVO) 
Original reply message:

Yes, probably just follow the procedure stated in their digital portal for the claim. They didn't mention they need a tax voucher, did they?

Before that happens, let's sort out the trading permission issue. Did you manage to get your trading permission granted?
I tried enable everything and still can't place any order on CPH stock. I think it may be due to the subscription to market data issue. I didn't subscribe to access the data since I am a cheapskate.

Do anyone knows how to go back to SMS code authentication for login? I recently enroll the IB key thing, but now I want to change back to SMS, can't find it in the settings.

I had this happen to me recently. Had to call their customer support and the guy on the other end was able to do it for me.

Did you try accessing the digital portal? I can't access the link: https://skat.dk/data.aspx?oid=2246531&lang=us

I don't think you need a tax voucher. Just submit the IBKR statements/reports which display the WHT segment and they will pay accordingly.

Another point to note is the WHT refund, if granted, will be paid in Danish Krone (DKK), so you will need a bank account which can receive or convert DKK to say SGD in order to receive the payments.

As for trading permissions, I have enabled all, just like you, but still can't access. I have open a ticket with IB's customer service. Will update here when they reply me.