that's why we open CIMB SG

WISE can receive more than 20k but cannot store more than 20k. If you haven't set a default account to receive it from WISE, they will just freeze your entire account. So you need to set an account for withdrawal from WISE, when they receive larger amount than 20k they will auto transfer it to that account (and charge you the withdrawal fee I believe).

Account u mean bank account?

Does CIMB SG have dormant fees? Or will they close account if there's no activity after a while?

Yes, you should set your bank account details in WISE.

And please learn to multi-quote.

I want to explore DBS Bank stock as dividend stock. Is it better to open a CIMB Securities to buy DBS Bank or, to put all eggs into IBKR? And, is it easy for Malaysian living in Malaysia to open CIMB Securities (I have a Maybank SG account). Maybe easier to open Maybank Securities in SG? I am not sure.

JusticeLeagueMY Moomoo SG can buy DBS bank stock. commission fees cheaper than IBKR (for SG stocks). wait i forgot, you cannot withdraw from Moomoo SG to MBB SG as MBB doesn't have e-statement to prove account ownership.

Moomoo MY can also buy SG stocks, but you'll have to pay Malaysian 0.1% stamp duty

This post has been edited by Medufsaid: Feb 5 2025, 03:01 PM

I can deposit from Maybank SG to Moomoo SG, but why cannot withdraw to it (never try)? Maybank SG still mail me monthly statement for Ar Rihla account.

How about withdrawal to CIMB SG?

tropik ok so if ar-rihla sends you monthly PDF with your physical home address then you are good to go. previously mbb sg users say it's not possible. better setup your MBB sg acct as a valid bank acct for Moomoo SG now

This post has been edited by Medufsaid: Feb 6 2025, 09:12 AM

Not PDF, but hard copy.
I'll try withdraw to both Maybank SG and CIMB SG then, dont want money to be stucked later.

PSA: For those with US T-bills ETFs, your 30% dividend WHT has been refunded today. Do check the huge increase in USD cash balance.

You have to wait for tomorrow/day after tomorrow for the WHT reversal to show up in the IBKR Activity statements though.

I am looking at a 4.55% p.a. IRR with this latest 30% WHT refund, pretty close to the average short-term USD rate for 2024.

This post has been edited by TOS2: Feb 10 2025, 04:15 PM

Not sure why some rows showed deduction of 0.07ish USD,,,

I would like to add, not JUST US t-bill ETFs, even corporate bond ETFs are eligible for WHT refund (although you wont get 100% of the WHT refund, more like 80%).

One other pleasant surprise, if you loan out your shares for short sellers, you would get paid a fee, but come dividend time you get a "payment in lieu" from IBKR instead of the dividend, I was worried that this means the WHT refund would be forfeit, but surprisingly, they even refunded it!




THe amount of WHT refundable according to each product can be found here.

https://www.ssga.com/library-content/produc...eation-2024.pdf



This post has been edited by diffyhelman2: Feb 12 2025, 12:19 AM

thats because even BIL doesnt get 100% of WHT refunded, more like 99.8% as shown here. American tax law is very arcane, surprisingly even REITs get a small WHT refund, so of the 30% WHT, i get 12% of it refunded, meaning the effective WHT rate for US Reits is actually 0.88*0.3 = 26%.

If you want to buy foreign stocks and get 100% of the dividend, UK and aussie ADR stocks are the best, NO WHT (a minimal 1 cent per share ADR pass thru fee is deducted from the dividend). I have received ~100% of the dividends for companies like SHELL and RIO TINTO. Canadian stocks (even those listed on US market) are second best, you get 15% WHT instead of 30%.

https://www.ssga.com/library-content/produc...eation-2024.pdf

This post has been edited by diffyhelman2: Feb 12 2025, 12:26 AM

TOS2... looks like gonna get back money from ftx soon... +20% interest summore...

but also looks like they songlap my coins give back usd... haiz... better than nothing...

Hello all.

I'm interested to explore IBKR as my main account. I'm currently on an SG platform but I feel the fees has remained high so it's eating into my general trade profits.

I have some questions:

1) I do purchase ETFs like VUAA on a regular basis, can someone advise me on the fees as I seem to get different answers via Google.

2) Does it make sense to transfer all my current holdings to IBKR, or just leave things as it and just start to buy shares in IBKR moving forward. Anyone has any idea if the fees they charge?

3) Is there any difference if we are to transfer a relatively large amount (say 1mil) one time vs in tranches?

if your broker doesn't charge you monthly fees to maintain your current holdings, just let it be. SG brokers charge you an arm and a leg to transfer out



This post has been edited by Medufsaid: Feb 16 2025, 02:54 PM

1.I am using IBKR as my main trading account.
From my statement, I notice trading 10 VUAA will cost me usd1.91 in fees/comm. There was once I bought 122 VUAA, and the fees charged were usd5.91.
How much IBKR charges you also depend on your Account settings. They have different tiers, I can't remember which tier I am on, but if you read the forum pages, you may find some good tips from other investors.
2. As far as I know, not only IBKR gives the most competitive rates, but they give the best currency exchange rates within the platform.
3. But beware that IBKR, being a US based company, may apply estate duty taxes on US shares, should anything happen to you. So, if you have a million $ in your account, the estate duty may be hefty, as the estate duty exemption is only $60,000. Just remember, don't exceed $60,000 on US situs assets. Btw, I reckon you probably know that VUAA is UCITS compliant, and therefore, not subject to US estate duty.

This post has been edited by swiss228: Feb 19 2025, 12:41 AM

1 .Yes, the fees are based on %, so I just wanted to confirm.

2. Moving cost to IBKR should be free from IBKR side, but the current home side is expensive, so I dont think it makes sense to move it after my review.

3. More likely I'd just open the account and start to buy from there, and remain the current one unless they start to change some inactive fee.

Yes, make more sense to start afresh from IBKR rather than transfer from one broker to another.