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 Interactive Brokers (IBKR), IBKR users, welcome!

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SUSTOS
post Jun 1 2021, 05:46 PM

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QUOTE(esyap @ Jun 1 2021, 05:39 PM)
Are we able to retrieve Buy/Sell order tat was not done for the day. The system seems to close those order not done when market closed.
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From my experience on SGX, GTC limit order will be placed in "sleep mode". It will become active again until a specified time later.

Market order definitely won't be executed when market is closed.
SUSTOS
post Jul 8 2021, 01:58 PM

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QUOTE(singkalan @ Jul 8 2021, 01:32 PM)
Wow Interactive Brokers has removed monthly maintainence fees.

https://www.interactivebrokers.com/en/index.php?f=4969

https://www.reddit.com/r/singaporefi/commen...emoved_monthly/

I opened IBKR through TSG last year, can I change to just IBKR now? Since commission is lower than TSG
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Good to hear.

If we switch should we choose IBKR pro tiered or fixed pricing?

This post has been edited by TOS: Jul 8 2021, 02:02 PM
SUSTOS
post Jul 9 2021, 06:25 PM

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I emailed Christian from TSG to ask about switching to IBKR and he told me no more minimum funding at TSG too. He also asked me what to do to retain me as customer.

So I told him to reduce commissions to same level as IBKR, then I might stay. Waiting for his reply.

Let's promote competition. tongue.gif
SUSTOS
post Jul 9 2021, 08:12 PM

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QUOTE(TOS @ Jul 9 2021, 06:25 PM)
I emailed Christian from TSG to ask about switching to IBKR and he told me no more minimum funding at TSG too. He also asked me what to do to retain me as customer.

So I told him to reduce commissions to same level as IBKR, then I might stay. Waiting for his reply.

Let's promote competition. tongue.gif
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Reply is:

QUOTE
Dear [my name],

thank you for your detailed feedback and your suggestions. I will definitely discuss these topics with the management and will give you an update on this next week.

Let us know if there is anything else I can do for you.


I will switch next week. Give chance to them haha.
SUSTOS
post Jul 10 2021, 08:55 AM

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QUOTE(Yggdrasil @ Jul 10 2021, 01:19 AM)
Even if TSG give the same commission/margin rate as IBKR, I'd still prefer IBKR since I don't have to go through advisor.
There's also the added benefit of fractional share under pure IBKR.

TSG main profitability is from the marked-up fee. If it's gone, there is no reason to stay in business.
Quite sad actually since those at TSG will likely lose their jobs. TSG will be missed.  cry.gif
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To further add fuel to fire, I suggest them to lower commissions below that of IBKR. Old customers like me will be indifferent to IBKR if TSG lower the commission charges to the same level as IBKR, but to attract new customer, they must undercut competitor's price, so ceteris paribus, they need to lower their commission charges below IBKR's level.

Time to show our pricing power. brows.gif
SUSTOS
post Jul 12 2021, 09:29 PM

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QUOTE(tressele @ Jul 12 2021, 09:16 PM)
Hi, just did mine yesterday and got approved this morning.

But it seems like my trade preview shows 'No Trading Permission'. Do you face the same?

The error states "Your account U6580XXX is not eligible for the required trading permissions." but I already choose US market during the registration btw.

Or is it because I didn't fund my account yet because I'm still waiting for my CIMB SG activation (but I doubt so).

Maybe any Gurus here can assist?

confused.gif  confused.gif
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If you open cash upfront account then you cannot trade until you have funded your account. For margin account I am not sure. Need to ask others.
SUSTOS
post Jul 12 2021, 09:34 PM

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QUOTE(jutamind @ Jul 12 2021, 09:03 PM)
after i login to IB, the URL is redirected to interactivebrokers.com.au. Does it really matter whether it's .au or .hk or .sg? Does the URL indicate where the account is hosted/located? Should i transfer to SG?

Submitted my delink request on Fri and just got email for security verification. Called them and got asked lots of questions especially since i got a joint account.
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The URL is determined by your closest location to the IB server. It does not matter whether au, hk or sg. Same account across all URLs. So no need to switch, just login as usual.

This post has been edited by TOS: Jul 12 2021, 10:46 PM
SUSTOS
post Jul 12 2021, 10:20 PM

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QUOTE(tadashi987 @ Jul 12 2021, 10:00 PM)
guys do update in case TSG got any movement to fight against IBKR ya, hahaha I am setting cut off if to delink and switch to IBKR  whistling.gif
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Yes I do get some updates. In any case, it won't be less than IBKR's price hehe tongue.gif

The thing now is whether they can match IBKR's pricing.

QUOTE
Dear [my name],

thanks for the email and your thoughts, but this is not possible, because then TradeStation will not make any money. As introducing brokers still pay the same commission as you as direct IB clients.


*not possible referring to undercut IB's price.

Still waiting for final verdict about whether price is same as IB or not. Perhaps they might start offering "free AAPL stock" too laugh.gif
SUSTOS
post Jul 12 2021, 10:44 PM

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QUOTE(IMF2025 @ Jul 12 2021, 10:38 PM)
If delink from tsg to IBKR. What if in the future IBKR decides to reintroduce back the usd10 or something lower since so many people switch or opened new acc?
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Switch again tongue.gif
SUSTOS
post Jul 13 2021, 10:56 PM

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QUOTE(markedestiny @ Jul 13 2021, 10:44 PM)
Any one received counter  offers from TSG yet ?
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Not yet. I will update here when there is a response.
SUSTOS
post Jul 14 2021, 03:38 PM

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QUOTE(Ramjade @ Jul 14 2021, 09:17 AM)
Same here. I told them your rebates can never beat Ibkr rates no matter how much you rebate. I also have told them I will have access to fractional shares.
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What sort of rebates? Javier and Christian didn't mention anything about rebate to me.
SUSTOS
post Jul 14 2021, 09:57 PM

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I have a funny question. Since buying SGX stocks with fixed pricing is cheaper but buying NYSE/HKEX/LSE stocks with tiered pricing is cheaper, is it ok for us to switch back and forth between tiered and fixed to buy at different commissions?

Fixed pricing for SGX is only 2.5 SGD all-in, no exchange fees payable, but tiered pricing for SGX is 2.5 SGD plus exchange fee of 0.0428%. I assume 200 units purchase at 3 SGD per share, typical of many REITs and some blue chips counters on SGX, that 600 SGD would cost me an additional 0.26 SGD per trade. So fixed pricing for SGX seems better. Correct me if I am wrong.

This post has been edited by TOS: Jul 14 2021, 10:00 PM
SUSTOS
post Jul 14 2021, 10:08 PM

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As for updates from TSG, they only offer unofficial "rebates" to old customers. New customers are still subject to the old, expensive pricing.

So far the rebate was based on fixed pricing for IB Pro US market. 1 USD per trade minimum, 0.005 US/share. I asked for more info on SGX/HKEX charges but no reply yet.

Once I got my info about switching back and forth between fixed/tiered for IB, I will join the rest and switch to IB. smile.gif

This post has been edited by TOS: Jul 14 2021, 10:08 PM
SUSTOS
post Jul 14 2021, 10:16 PM

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QUOTE(Ziet Inv @ Jul 10 2021, 07:02 PM)
Update on this, did a quick check and I think my delinking has been completed when I saw I had the "Refer a friend" thing.

user posted image

Afterwards, to activate fractional shares trading, just search at the search bar for "Fractions" and the options to activate will be there.
IBKR prompted me to update my financial information, which will take up to 24 hours for approval (according to the system message).

Delinking timeline:
(8th July 2021) Requested delinking with TSG on Thursday at 3pm. Called IBKR for verbal verification at 8pm the same day.
(10th July 2021) Delinking completed on Saturday evening. Requested for fractional shares trading permission inside IBKR, waiting for approval as they requires me to update financial information. Hopefully can be approved within 24 hours.
(11th July 2021) Financial information updated. Requested for fractional shares trading permission require another 24 hours for approval. Also changed the IBKR commission fee structure from "Fixed" to "Tiered" (note that after delinking from TSG, they defaulted to Fixed).
(12th July 2021) Fractional shares trading (US market) permission granted. Everything is completed.

Hope this helps!
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QUOTE(polarzbearz @ Jul 13 2021, 02:19 AM)
Hi All

Just to share an update, same like Ziet Inv, I was requested to do a phone call verification. I almost forgot the answer to my 3rd question (somehow I decided to set myself up with a multiple-choice answers' security question. WHY GRACIE WHY??? doh.gif)
I've completed the verbal verification for now and they ask me to continue waiting and monitor secure messages/email if there's any further action needed from my side. Nothing I can do but wait.

Timeline:
Saturday, 10th Jul 0100: Sent completed form to TSG, cc IBKR, with ticket lodged
Monday, 12th Jul 2200: Email received from IB on verbal verification requirement
Tuesday, 13th Jul 0030: Completed verbal verification


Updated my blog post as well with the detailed steps (plain text version in spoiler)
Interactive Brokers: Inactivity Fees Removed!? – Ringgit Freedom
(step by step included for TSG-to-IBKR transfer)
» Click to show Spoiler - click again to hide... «

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Just to confirm with you guys, I don't use the IBKR app in my mobile phone, only TWS on desktop and the online version from IBKR, in Gracie's blog, she mentioned phone biometrics verification

user posted image

If I don't use the IBKR mobile app, do I need to download it on the spot? Or that process will be skipped?

Do you use the IBKR app as well, Ziet?
SUSTOS
post Jul 15 2021, 10:46 AM

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QUOTE(dwRK @ Jul 14 2021, 10:21 PM)
the ibkr app can be used as 2fa for tws/online... otherwise wait for sms iirc...

tbh... if doing value investing like yourself... the mobile app is far easier to use... wink.gif

edit: oh for delinking... haha no idea... serves me right not reading the latest...
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iFAST not really value investing lol

Market changes quickly. Sometimes growth turn into value (Keppel DC), almost all value turns into growth for a short time during pandemic. Hard to say which is which

QUOTE(tadashi987 @ Jul 14 2021, 10:22 PM)
i have a feeling that everyone's delinking requested will have different timeline or verification process.  whistling.gif
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QUOTE(polarzbearz @ Jul 14 2021, 11:04 PM)
Good question and frankly I don't have the answer to it tongue.gif
I activated Mobile 2FA almost on the same day when I got my TSG-IBKR account approved as I find it easy to use
I feel/suspect the same too!
Was struggling to write my post TBH when I crawled across different reddit / forums (at least those whom delinked during the Brexit saga and pre-Brexit/pre-0 fees era). Seems like everyone's experience was different and there doesn't seem to be a one-size-for-all rclxub.gif
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Finally submitted the de-link form... Bye bye Javier and Christian. bye.gif

As Ram said, the rebates really can't match pure IB. In the end Christian admitted that they cannot make money if price same as IB and re-send me the form just ask me to de-link.

In my email I asked IB to call me, save some expensive IDD money.
SUSTOS
post Jul 15 2021, 04:17 PM

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QUOTE(tadashi987 @ Jul 15 2021, 03:47 PM)
not so fast anymore, maybe there are a lot delink request, i submited two days until today still not done yet.  cry.gif
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QUOTE(Ziet Inv @ Jul 15 2021, 04:11 PM)
Haha TSG told me they processing hundreds of it everyday
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Did you guys pull a ticket with IBKR like what Gracie did? In Ziet's video, I don't see him mentioning anything about contacting IB, instead he suggested that IB will contact us instead once we send the delink form to IBKR.

So do I need to pull a ticket like Gracie to notify IB about my intention to de-link> Or I presume they will read my email and contact me?
SUSTOS
post Jul 16 2021, 08:57 AM

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I pull a ticket and send email to accoutmanagement@IB with my de-link form.

Accountmanagement@IB suspected my email is spam and suggested me to pull ticket, I pull ticket IB reply I am under TSG, so ask me to go through TSG to de-link...

Back to square one, email TSG... But last time TSG said they ask me to email it myself to IB...

Looks like Gracie and Ziet's guide don't necessarily apply to all.

This post has been edited by TOS: Jul 16 2021, 08:58 AM
SUSTOS
post Jul 16 2021, 05:58 PM

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I smell a rat.

user posted image

Why on Earth do they need my password?

I am still waiting.
SUSTOS
post Jul 16 2021, 06:08 PM

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QUOTE(silverwave @ Jul 16 2021, 10:08 AM)
TSG didn't even reply my email and i got an email straight from IB requesting to call tongue.gif
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Why you guys so lucky...

A bunch of hurdles for me... wink.gif
SUSTOS
post Jul 16 2021, 06:09 PM

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QUOTE(murzark @ Jul 16 2021, 06:08 PM)
That's weird and very dangerous.

It seems like the procedure can get ridiculous.
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I have a few k SGD in it. I am not telling my password, only submit my passport copy to them.

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