Wow IBKR coming to Malaysia!

Nice info there.

Best of all, can convert MYR to other currencies with low spreads lol

If ibkr come to Malaysia officially, does it mean we have to pay stamp duty to Malaysian government next time for US stock next time ?

you can always check before you buy/sell. notice that line that says "Comission"

TOS Moomoo malaysian has been charging stamp duty for months already. you get deducted $0.23 per $230 transacted. months ago it was $0.21 per $210 due to exchange rate

Interactive Brokers Introduces Access to Stocks on Bursa Malaysia

Automatic FX Conversion Available Between Account Base Currency and Malaysian Ringgit

August 27, 2024 10:00 AM Eastern Daylight Time

GREENWICH, Conn.--(BUSINESS WIRE)--Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced that its clients can trade stocks on Bursa Malaysia, one of the largest stock exchanges in Southeast Asia. With this launch, IBKR clients can trade Malaysian Ringgit (MYR) denominated equities and ETFs alongside global stocks, options, futures, currencies, bonds, funds, and more from a single unified platform. To streamline trading, Interactive Brokers will also coordinate the necessary forex trade using an automatic FX conversion between the base currency selected in a client’s account and the Malaysian Ringgit.

"Introducing stocks on the Bursa Malaysia allows our clients to add exposure to Malaysian equities with the benefit of having Interactive Brokers manage the cost associated with currency conversion.” - David Friedland, Head of APAC at Interactive Brokers

Bursa Malaysia Securities Berhad is Malaysia's sole stock exchange. With a market cap of USD 380 billion, it is comprised of 970 listed companies across industries, including financial services, manufacturing and oil and gas. Introducing Malaysian-denominated equities products expands the breadth of global investment products available on the Interactive Brokers platform and offers IBKR clients new investment opportunities across Malaysia’s economy.

To create a straightforward trading process, Interactive Brokers will facilitate trades with an automatic FX conversion between a client’s base currency and the Malaysian Ringgit using a conversion rate determined based on the prevailing foreign exchange market rates. This eliminates the need for pre-trade currency conversions and simplifies the trading experience for clients.

David Friedland, Head of APAC at Interactive Brokers, commented, “Interactive Brokers offers clients worldwide superior market and product access, allowing them to create diversified portfolios across geographies and asset classes. Introducing stocks on the Bursa Malaysia allows our clients to add exposure to Malaysian equities with the benefit of having Interactive Brokers manage the cost associated with currency conversion.”

Interactive Brokers offers unparalleled global market access, advanced technology, and competitive pricing, empowering self-directed individual and institutional investors. Clients of Interactive Brokers can trade on 150 markets and fund and trade accounts in up to 27 currencies, including the Malaysian Ringgit. In addition to stocks on the Bursa Malaysia, clients can trade Crude Palm Oil Futures (FCPO) and FTSE Bursa Malaysia KLCI Futures (FKLI), giving them a wide range of investment opportunities.

Source: BusinessWire

Heyo, I am about to open a directly-registered share account with Air Liquide.

I emailed Air Liquide shareholder service department this morning, and submitted the proof of details for my Wise EUR account and they accepted that!

I am not yet a shareholder but they begin their email with "Dear shareholder" 

Lovely French...

hedfi IBKR users have 1 FOC withdrawal each month, so this Wise trx should be free. Moomoo SG can link to Wise (hopefully deposit is free)

do note that there seems to be no way to withdraw from Moomoo SG out to Wise for now. And USD convert to SGD in moomoo has a fee of 0.3-0.4%.

No ibkr USD2 per $100k conversion miracle

will it be cheaper to convert via IBKR next time compared to using WISE?

can't tell yet...

BUT, if online FPX / DuitNow (MYR) funding is available, then by right it should be cheaper since you cut away 1 middleman, just FPX MYR then convert internally to USD/whatever at the USD2/conversion cost

Oh that would be bad...

Let's hope they get out of Malaysia then

That said, to collect stamp duty of a couple of MYR every time we trade stocks/ETFs would mean IBKR will have to allow MYR cash account for the fees to be deducted.

So your couple of MYR stamp duty can be offset with cheaper FX rates at IBKR, hopefully...

why would they collect additional stamp duty if we are dealing with US / non-Malaysian securities? Its not like LHDN has a legal right there.