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 Interactive Brokers (IBKR), IBKR users, welcome!

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dwRK
post Apr 3 2020, 08:34 PM

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QUOTE(erizdagreat @ Apr 3 2020, 02:08 PM)
It feels like the difference between how Ramjade and I manage our IBKR accounts can be summarised as follows:

1. Ramjade tries to minimize/eliminate all his costs, incurring some inconvenience along the way.
2. I go for convenience, incurring cost while I'm at it.

Interesting. Newbies would probably be better off somewhere in the middle.
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only 1 or 2... no middle
dwRK
post Apr 7 2020, 07:53 PM

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QUOTE(madman.com @ Apr 7 2020, 06:25 PM)
Yeah, i think fast is because its small amount.
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SWIFT system is very fast nia... moves a few trillion usd a day...

big or small is still about the same amount of code...

This post has been edited by dwRK: Apr 7 2020, 07:55 PM
dwRK
post Apr 11 2020, 01:40 PM

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QUOTE(FishIsSmart @ Apr 10 2020, 05:20 PM)
have a question here
TD ameritrade asia have flat rate commission of 10 USD,
means if somebody trade big volume, is that limited to 10 USD maximum ?
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yes
dwRK
post Apr 11 2020, 08:17 PM

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QUOTE(moosset @ Apr 11 2020, 07:59 PM)
so now, our main goal is to hit that USD $100k mark, then we can migrate to IBKR!! sad.gif
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got 100k no need to play fractions oh...
dwRK
post Apr 11 2020, 08:18 PM

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QUOTE(kart @ Apr 11 2020, 03:22 PM)
Did I make a correct choice of selecting non-professional, in Market Data Subscriber Status?

I want to avoid unnecessary fee being charged.

Thank you for your advice. smile.gif
[attachmentid=10468426]
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non pro is correct

dwRK
post Apr 11 2020, 09:24 PM

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QUOTE(Ramjade @ Apr 11 2020, 08:34 PM)
Goal is at least usd200k for margin of safety in case stock price drop by 50%.
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you worry too much on that $10 fee
dwRK
post Apr 12 2020, 01:22 PM

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QUOTE(Yggdrasil @ Apr 12 2020, 02:07 AM)
Even if have, I don't think<1 unit can influence the board laugh.gif
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1 share gives you rights to attend agm and free refreshments...locally lah... haha
dwRK
post Apr 13 2020, 10:26 AM

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QUOTE(moosset @ Apr 12 2020, 11:03 PM)
I don't think there are any special settings for lower fees.  hmm.gif
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got

can set preferences for faster execution, lowest fees, exchange rebate, etc... all depends on what you buy lah
dwRK
post Apr 14 2020, 05:58 PM

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QUOTE(Ramjade @ Apr 13 2020, 01:47 PM)
What's the exchange rebate?
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some places market maker gets a rebate...didn't find out as my vol is insignificant for the trouble

ibkr do explain these...
dwRK
post Apr 18 2020, 02:47 PM

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QUOTE(FishIsSmart @ Apr 17 2020, 08:47 PM)
anybody try transfer money out of IB to another broker ? there are several methods eg. ACAT but the easiest seems to be wire transfer. any idea ?
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acat is for stock
dwRK
post Apr 22 2020, 06:19 PM

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QUOTE(esyap @ Apr 22 2020, 11:32 AM)
Hi anyone know how I can enter a 'stop loss' or 'Profit target' into an existing stock for IBKR. I can find the SL & PT wen entering a new order, but not sure how to do it for an existing stock that oledi bought. Thanks for any input.
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sell order below...select stop or stop-limit

sell order above...add bracket order, don't select profit target, select stop bracket...
dwRK
post Apr 22 2020, 08:53 PM

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QUOTE(madman.com @ Apr 22 2020, 07:23 PM)
When u transfer euro frm msia bank tt into transferwise: u pay the exchange rate 1st time.

When transferwise received your euro, transferwise receiver bank will charge i think eur25 per transaction if not mistaken, b4 they deposit the balance into ur transferwise acc

Then frm transferwise to ibkr, in ibkr u exchange euro to usd: u pay exchange rate 2nd time.

That is what i mean
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?

1. bank(myr) to transferwise(myr->eur) to ibkr(eur->usd)... 2 fees, 2 spot rates

2. bank(myr->eur) to ibkr(eur->usd)... 2 fees, 1 bank 1 spot rates

3. bank(myr->usd) to ibkr(usd)... 1 fee 1 bank rates (but limited banks)

in order of cheap... 1, 3, 2 for end usd

if not for usd, say sgd, hkd, eur, etc... then usually transferwise

you will always kena fees...it's total fee+rates which one cheaper or less hassle... different ppl needs (usd, sgd, hkd, eur) got different options
dwRK
post Apr 23 2020, 12:36 AM

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QUOTE(madman.com @ Apr 22 2020, 09:11 PM)
confused.gif  if its already for end usd, then why would any1 go for no.2??
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no 2 and 3...one step less and/or for convenience...

ibkr WILL accept usd from local banks IF they send it...

ibkr WILL NOT accept usd from transferwise/instarem...

ibkr WILL accept other currencies from transferwise/instarem...ibkr deposit page list acceptable currencies
dwRK
post Apr 23 2020, 10:16 AM

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QUOTE(Ramjade @ Apr 23 2020, 09:13 AM)
There's no better ones. I use all 4.
Bigpay -  the slowest takes 1-2 days
Moneymatch
Instsrem
Transferwise

Depending which  one is the cheapest at that time.
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bigpay n moneymatch for sending myr to own sg bank account right? not to ibkr... you best clarify...
dwRK
post Apr 24 2020, 06:09 PM

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bringing usd back... hope 4.5 and above soon... huat ahh.... biggrin.gif
dwRK
post Apr 26 2020, 09:07 PM

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QUOTE(Ramjade @ Apr 25 2020, 02:54 PM)
Yes. That's right. There will be overseas wiring charges from IB, incoming charges from Maybank + banks will increase the exchange rate slightly (hidden, not shown to you). So you received less then that what you expect.

Theoretically you can. Maybe because last time done via counter bank straight reject. But now can be done online (cannot nego for discount) so it can pass through.
It up to bank to approve the transaction.
IBKR -> maybank usually no issue.

Again if you use banks just prepare to give banks more money and you have less money for yourself. Outgoing wiring fees, intermediate bank fees, Maybank incoming fees, markup exchange rate by maybank.

That's why I never use the bank way. More convenient but more charges. Long term it eats into my money. Cost is something I can control myself.
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you like to strike fear into noobs...lol

actually bank fees are low but rugi much from their high forex spread...
dwRK
post May 11 2020, 11:29 AM

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QUOTE(wombie @ May 11 2020, 11:13 AM)
Hi noob here,

any one trades ES mini? I realised you need at least USd16k to trade one contract?
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16k yes.

can try micro emini

ibkr needs very high margins...they tie up your funds and use it for lending... is how they make more money...
dwRK
post May 17 2020, 10:28 AM

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QUOTE(Lakeambience @ May 17 2020, 12:04 AM)
Anyone tried funding IBKR in SGD using BigPay before? Their exchange rates are quite competitive and sometimes come very close to instarem. What I also like is that you can top up with credit card.
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ibkr don't accept debit credit cards
dwRK
post May 19 2020, 07:01 PM

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ibkr lost >$100 mil from wti crash...

This post has been edited by dwRK: May 19 2020, 07:05 PM
dwRK
post May 19 2020, 11:08 PM

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QUOTE(Krv23490 @ May 19 2020, 09:50 PM)
yeah , i would be more worried if i was a forex trader , and as we know, there are plenty of them out there, just look at those facebook gurus and ads. Wouldnt be too worried if just trading other financial instruments suck as stocks,futures, options etc
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if they wanna whack you... they whack you on licensing... not what you trade

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