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 Interactive Brokers (IBKR), IBKR users, welcome!

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bill11
post Mar 12 2025, 08:57 PM

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QUOTE(dwRK @ Mar 12 2025, 04:44 PM)
uk has its own estate tax... but less than usa...
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in this case, if I am using Moomoo MY and hold US stock will be better right ?
i write my will and transfer to my next kin without kena US estate tax?
Medufsaid
post Mar 12 2025, 09:15 PM

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bill11 nothing to do with IBKR UK / IBKR US / Moomoo. more to do with whether you bought CSPX etf or VOO etf
QUOTE
I also understand that US domiciled ETFs for non-resident non-citizens are subject to estate tax rates between 26-40% beyond the 1st USD 60k exemption, whereas non-residents of Ireland are not liable for any gift, estate and inheritance tax.
QUOTE
But we are a long way away from the US, and Uncle Sam doesn't need to know you died. If you buy US stocks, you better make sure your spouse or adult child has your login and password and can liquidate and withdraw if you pass, or preferably while you're on your deathbed but still able to communicate. Don't go through the proper estate administration process getting the US authorities involved.

Obviously don't do this if you are a US person.

dwRK
post Mar 12 2025, 10:38 PM

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QUOTE(bill11 @ Mar 12 2025, 08:57 PM)
in this case, if I am using Moomoo MY and hold US stock will be better right ?
i write my will and transfer to my next kin without kena US estate tax?
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uncle sam treats us stocks, etf, ... as in situ asset... meaning it dont care where... as long as you gg with it... you pay...

earlier question is there any differences ibkr usa vs uk... tax jurisdiction / estate tax

swiss228
post Mar 12 2025, 11:24 PM

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I login IBKR via Face Recognition method and I know no other method other than this. I never use the login/password method, so US estate duty may apply if my estate writes to IBKR for withdrawal of funds & assets. So, I play safe and will buy only Irish domiciled US ETFs.

This post has been edited by swiss228: Mar 13 2025, 12:28 AM
Wedchar2912
post Mar 13 2025, 12:38 PM

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QUOTE(swiss228 @ Mar 12 2025, 11:24 PM)
I login IBKR via Face Recognition method and I know no other method other than this. I never use the login/password method, so US estate duty may apply if my estate writes to IBKR for withdrawal of funds & assets. So, I play safe and will buy only Irish domiciled US ETFs.
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I think the login via Face Recognition is enabled by you somehow on your phone...
cos I login via thumbprint and password.
Xerx00 P
post Apr 4 2025, 05:02 PM

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QUOTE(Medufsaid @ Feb 24 2025, 09:17 AM)
watermineral use Wise only as a last resort. refer to screenshot below where i compared sunwaymoney to send to SG banks. if u really need to use wise, cheapest is to convert to EUR, and reconvert to USD inside IBKR after u sent EUR to IBKR.
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What if don't have sg bank, is sunway money to ibkr still cheaper than wise convert to eur option ?
VonHalrius
post Apr 8 2025, 09:49 PM

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For someone without CIMB MY (CIMB OctoSaver account no longer open for application) & SG bank, is it cheapest to use Wise > convert to EUR > IBKR?

And if so, does IBKR automatically convert the EUR to USD (my IBKR account is in USD) sent from Wise with 0.03% conversion fee?
Medufsaid
post Apr 9 2025, 07:09 AM

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QUOTE(VonHalrius @ Apr 8 2025, 09:49 PM)
For someone without CIMB MY (CIMB OctoSaver account no longer open for application)
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just walk to a cimb bank and open a normal account. Can easily save 30-40% on fees if send via sg bank. Can also open MBB sg acct to deposit

QUOTE(VonHalrius @ Apr 8 2025, 09:49 PM)
is it cheapest to use Wise > convert to EUR > IBKR?

And if so, does IBKR automatically convert the EUR to USD (my IBKR account is in USD) sent from Wise with 0.03% conversion fee?
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if you are on cash account, IBKR will auto convert to USD for you when u buy stocks/etf for a fee of 0.03%
  • if less than RM13k, deposit EUR from wise into IBKR
  • if you are transferring >RM13-14k in one go, just convert to USD in Wise and pay the USD1.13 when you deposit USD into IBKR. (do the maths and u find out it's cheaper than 0.03%)
if you make a recurring investment (in IBKR a recurring investment can be made to occur only once), IBKR will auto convert into USD for free. no need to pay 0.03%, this applies to margin or cash acct

This post has been edited by Medufsaid: Apr 9 2025, 08:08 AM
Ramjade
post Apr 9 2025, 08:10 AM

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QUOTE(Xerx00 @ Apr 4 2025, 05:02 PM)
What if don't have sg bank, is sunway money to ibkr still cheaper than wise convert to eur option ?
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Sunway money cannot send to wise directly.

QUOTE(VonHalrius @ Apr 8 2025, 09:49 PM)
For someone without CIMB MY (CIMB OctoSaver account no longer open for application) & SG bank, is it cheapest to use Wise > convert to EUR > IBKR?

And if so, does IBKR automatically convert the EUR to USD (my IBKR account is in USD) sent from Wise with 0.03% conversion fee?
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Just walk into cimb branch with employment letter and open xumb free basic savings account.
harmonics3
post Apr 14 2025, 09:29 AM

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I have some HKD in my DBS My Account. Can I directly transfer to my IBKR just like how we do for SGD?
Asking because I would like to keep HKD in IBKR instead of doing double conversion (HKD -> SGD in DBS and SGD -> HKD in IBKR).
Medufsaid
post Apr 14 2025, 09:43 AM

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harmonics3 any fees to send HKD from DBS my acct (in sg) to Hong Kong (bank accounts)?
harmonics3
post Apr 14 2025, 01:20 PM

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QUOTE(Medufsaid @ Apr 14 2025, 09:43 AM)
harmonics3 any fees to send HKD from DBS my acct (in sg) to Hong Kong (bank accounts)?
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No idea on fee charges for sending HKD from DBS (SG) to Hong Kong as I don't have any Hong Kong bank accounts.
salakiest
post Apr 17 2025, 03:50 PM

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Hey guys, is Interactive Broker the best trading platform for Malaysians who want to trade US stocks and HK stocks?
sp3d2
post Apr 17 2025, 04:27 PM

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QUOTE(salakiest @ Apr 17 2025, 03:50 PM)
Hey guys, is Interactive Broker the best trading platform for Malaysians who want to trade US stocks and HK stocks?
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Absolutely yes
Medufsaid
post Apr 17 2025, 04:56 PM

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salakiest why i didn't reply initially is, you should tell us what you want.

convenient (like moomoo)? or cheapest but inconvenient way to invest (outside of malaysia)
salakiest
post Apr 17 2025, 08:37 PM

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QUOTE(Medufsaid @ Apr 17 2025, 04:56 PM)
salakiest why i didn't reply initially is, you should tell us what you want.

convenient (like moomoo)? or cheapest but inconvenient way to invest (outside of malaysia)
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I am looking for a trading platform to trade US stocks and maybe HK stocks. It must be trustworthy, easy to access, buy, sell, and withdraw.
kslim888
post Apr 18 2025, 01:50 AM

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QUOTE(Medufsaid @ Apr 17 2025, 04:56 PM)
salakiest why i didn't reply initially is, you should tell us what you want.

convenient (like moomoo)? or cheapest but inconvenient way to invest (outside of malaysia)
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How about if we wanted to trade SGX? Mainly for S-Reits or any dividend stocks. Is IBKR worth it even tho the fees are higher compared to other discount brokers like Moomoo?


I asked this question previously here: https://forum.lowyat.net/index.php?showtopi...ost&p=111457054, but there were no replies. Thinking could get your insights
Ramjade
post Apr 18 2025, 07:18 AM

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QUOTE(kslim888 @ Apr 18 2025, 01:50 AM)
How about if we wanted to trade SGX? Mainly for S-Reits or any dividend stocks. Is IBKR worth it even tho the fees are higher compared to other discount brokers like Moomoo?
I asked this question previously here: https://forum.lowyat.net/index.php?showtopi...ost&p=111457054, but there were no replies. Thinking could get your insights
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I don't recommend IBKR to for s-reits. You are better off with fsm as s-reits will always ask for money.

Rights issue on fsm is easier than IBKR. IBKR should be for stuff that don't ask for rights.

No experience with rights on moomoo.

Ibkr is cheap. Check again the price.

This post has been edited by Ramjade: Apr 18 2025, 07:19 AM
coyouth
post Apr 18 2025, 10:07 AM

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QUOTE(salakiest @ Apr 17 2025, 03:50 PM)
Hey guys, is Interactive Broker the best trading platform for Malaysians who want to trade US stocks and HK stocks?
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personally, i use M+.
salakiest
post Apr 18 2025, 11:11 AM

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QUOTE(coyouth @ Apr 18 2025, 10:07 AM)
personally, i use M+.
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Never heard of M+. Or you meant Moomoo?

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