Hi. What I meant was if I had usd in Malaysia foreign currency account, can I transfer it to a cimb Singapore foreign currency account and what will be the cheapest method to transfer to ibkr once it is in a Singapore bank account? Currency is usd and not sgd. Thanks.

regarding withdrawal, and say we're holding USD in ibkr.. can just make a direct withdrawal to, for eg. Maybank? assuming one doesn't mind about the bank's exchange rate, the USD will be auto convert to MYR, no?

Thank you, this is very helpful.
I will go thru fintech for deposit while the withdrawal will use SG bank.

so it's not a necessary right that that we'll need SG banks for withdrawal?

seems like it's fine to make a direct withdrawal from ibkr (whether in usd or sgd) straight to m'sia banks.. purely assuming one doesn't mind about the exorbitant bank's exchange rate as well as other inward remittance fees

Good morning everyone.

Apologies, if this comes off as a newb/trivial question.

How do I transfer from fastsaver to ibkr? I already set it up to transfer SGD, and was given this information in the pic.

Do I need to inform CIMB SG of this info or can I do this via cimb clicks MY or SG?

I see. Thank you. Really appreciate the help @polarzbearz.

Hi, how can i fill the W8 BEN form for IBKR? I don't recall them asking me to fill when i set the account.

Opening cimb basic account 1 need employer letter? So weird

Yeap. Cimb my. Took my day off and walk-in. Wasted.

Gonna try open through online.

Hey guys, I found out that I can link my TW Borderless USD account to IBKR and deposit USD via direct debit. I tried it out by depositing $1 and the amount was debited directly from my TW USD account after a few hours. The money is currently on hold for 4 business days which is one of the downsides I think.

I also tried to deposit $1 by transferring the money directly from TW USD account to IBKR. TW charged $1.05 for this and according to IBKR website, the money would not be on hold if deposit by this method, but they still hold it anyways for 4 business days.

For USD you only need to transfer RM to TW USD account. Then you can use the ACH Direct Debit to deposit money into your IBKR account which is free.

To use the direct debit method you need to link your TW USD account to your IBKR account, then initiate the deposit in your IBKR account. After a few hours the amount will be deducted from your TW USD account.

It’s cheaper than depositing SGD into IBKR then convert it to USD but it’s only 0.3% cheaper if you want to deposit $1000 via the direct debit method.

I only tried it out yesterday and the money has been deducted from my USD account but IBKR needs to put it on hold for 4 business days. I will update you guys once the money is available for trading.

Is it possible to make a transfer directly from another US broker (eTrade) to IBKR?

Guys, i got some question. I opened account on tradestation via ibkr, so means once i got ibkr account funded i don't need to care about the tsg account right? Because i had been already buying shares through ibkr, but i still receive email from tsg saying that i haven't done any deposit yet, which is weird because i already deposit and traded on ibkr already. So my ibkr account is there and will always be there kan?

no doubt u can hold SGD for as long as u like.. or use the SGD account for whatever reasons

but for those that reside or locate in m'sia, and need to use the money, one still need to convert it back to MYR right? regardless it's from SGD or USD or EUR or HKD, etc

Hi Everyone,

Not sure if someone brought this up, but thought I should mention about IBKR's Brexit Account Migration here.

TLDR: Effective 1st January 2021, IBKR shifted from UK to Ireland, no longer protected by SIPC and UK compensation (c.500k USD insurance), now protected by Ireland Compensation Scheme (c.20k euro).

IBKR Brexit Account Migration official FAQ

Reddit discussion: IBKR Brexit Account Migration

What are your thoughts on this?

yes agree..

but im just saying it's 'possible' to withdraw directly.. that doesn't mean i encourage or insinuate others to do it.. just a mere clarification that it's possible if one choose to do so..

personally, i will also avoid withdraw directly to stay clear of the exorbitant fees and absurd exchange rates spread..

but despite that, withdraw directly to MYR remain as one of the option.. and i bet there are indeed people using it as a less hassle way (for which one is willing to exchange that for the higher fees + expensive rates) to repatriate money back.. so does that mean those who opted for this option is wrong? in essence, everyone is different.. there are no right or wrong for this.. it's all personal preference

Oh i see. Thanks for the help. I had actually asked them regarding the minimum deposit and they said it was actually 1k until 31 dec, after that only will be 2.5k. I managed to fund it before 31 dec, but till date i havent receive confirmation from tsg so i was a bit worried.

anyone know how long is TransferWise > CIMB SG FAST > IBKR take?
because TW SGD > IBKR took 5 days to be available on my account and its too long for me

edited nvm got the answer above lol

I am trying to purchase a stock on Chinext via ibkr. My funds are currently all in usd. Do I need to exchange to China yuan first? I can see I have buying power but I assume that is margin.

Is ibkr the most cost effective platform to purchase stocks on the Chinese exchange?

Managed to get my TSG-IBKR account approved earlier today.

Just wondering when does the inactivity fee start getting charged as I have yet to deposit USD2,500 in it. I presume my account is only activated once I've deposited the sum and therefore I will not be charged the inactivity fee until I deposit the sum?

wah...tdameritrade got ban by SC... just found out...yes I slow

Hey guys, sorry if this has been asked, I want to transfer my TSG account (shares, options and funds) to pure Interactive Brokers. Will email TSG global support.

Though, will they be able to transfer all the shares, options and funds even? That aside, how long does it take?

Can you still trade during that period? On your ibkr app

HI all,

I am using IBKR TSG, and I noticed that my commissions per trade varies between USD0.35 and USD 1.50.

Previously, when I bought the same share, same quantity at a similar price, the commission charged was USD 0.35.

Now is it USD 1.50.

Any inputs on why is this happening?

You are right, everything can done online.
I got my instarem, transferwise, cimb acc open, and invested already.