some places market maker gets a rebate...didn't find out as my vol is insignificant for the trouble

ibkr do explain these...

rebate for commission ?

Hi guys,

I manage to open and fund my tradestation global account. I did it via a singapore account. My question is I transferred SGD 1500 which converts to USD 1060. On my IB account page it shows USD 1060, does it mean they have already converted my SGD 1500 or do I need to do a conversion and pay a commission of USD2 as what Ramadje posted previously?

On a side note, opening the account was a breeze. Got the account within 5 hrs of signing up.

Thanks

You have gotten your TradeStation Global account?
I also just open recently but only IBKR account approved.

It only shows your cash in the base currency value, ie. USD. You can change this if you want it to display in its original currency.

IBKR doesn't do automatic conversion. You've to do it manually.

Not yet for Tradestation. Im using IB.

I see. Thanks for the reply

Hi,

Im fiddling around the IB website and I cant figure out how to do the manual currency conversion? In the accounts settings, there is a "currency conversion" tab which needs me to request trading permission. Is it there i perform the conversion?

Thanks.

are you using the platform, web portal or mobile?

I only use the platform for trades and currency conversion, so I'm not familiar with the other two.

I see. Im using the web portal.

with webtrader



with the client portal:
IBKR offers clients the ability to convert currency, either to establish a cash position or trade foreign products. To place a currency trade in Client Portal, click on the Trade button on top right of the screen. Enter the first currency of the pair that you wish to trade (ex. EUR) as Symbol, select FOREX as Asset Class, and choose the currency pair under Instrument. Configure your trade as you wish and transmit the order when ready.

The action (Buy/Sell) will be for the first currency in the pair. In other words, if you would like to be long EUR 500 you would place a trade to Buy 500 EUR.USD.
Order quantity is by default in terms of units of the first currency of the pair.
Only one symbol is available for each currency pair, for ex. EUR.USD is available but not USD.EUR.
Residual cash balances in non-base currency are converted automatically in base currency within 2 working days at no cost for clients.

my preferred method, the platform TWS

Thanks for the info. Manage to figure it out.

anyone trade using yahoo fianance? linkup your IB (TS global) into yahoo finance so that can trade direct from yahoo finance apps / web

not sure about the charges (if any?) or same






Attached thumbnail(s)

yahoo mentioned that there are no charges. charges as per ts global

Hi, I'm a newbie like you. I highly suggest you use IBKR app. Inside the app, there is a function to convert currency very easily (see screenshot).

It convert at near-google rate. I was charged SGD 2.85 (= USD 2) commission.





This post has been edited by kkhong: Apr 15 2020, 10:00 PM

Thanks its pretty straight forward from the app.

How do you all withdraw back from IBKR to MYR? Would need to open a SG bank account of a Malaysian foreign currency account?

Yes. You can straight transfer out but it's going to be expensive.

Just transfer straight to your MY account. It's not expensive.

for those who use Maybank, what did you put for the company ID?

someone just PM me about this. Maybe you guys can help.

How much are the bank charges and forex how much above the spot rate?