Guys, I just created an acc but I have no idea how to transfer money to the acc. I don’t have SG bank acc or whatsoever. Only Malaysian bank acc and Bigpay. How can I work on this?

You can TT straight from your local bank account straight to your IBKR account. But according to @Ramjade, that will take 5 days (based on his recent experience in 2015, which feels just like yesterday tbh) and will incur exorbitant amount of fees (in the form of unreasonable and excessively unfavourable exchange rates. Daylight robbery by banks. Beware!!).

The smart money of this thread prefer opening a SG bank account and using one of several fintechs (instarem seems to be the favourite) to do their transfers. So you transfer your money first to your bank account in Singapore, then initiate another transfer using Instarem. By doing it this way, you will avoid paying high fees, enjoy favourable rates (xe.com rates! Amazing!) and have near instantaneous transfer (goodbye 5 day transfers!)

You probably want to plan your trip to Singapore now.

This post has been edited by erizdagreat: May 1 2020, 07:24 AM

I have been funding my IBKR with HKD and converted it to USD to buy US stock leaving a small balance of less than HKD50. But I realised after some time the small HKD balance will become zero. Not sure if anyone of you experience that and why it happened. Thanks for input.

any balance of less than USD$5 will be automatically converted to your base currency, free of charge!

OIC, Thanks boss for the explanation.

Well only way to test it. Things may have change alot since I last used banks.

Well if you like giving free money to banks. Be my guest. Is your money. Not mine.
Recurrent transfer = recurrent free money to banks = less money for you to invest in. Over the long time it all adds up. Imagine losing few hundred ringgit every time you choose to use a bank. Cost is something you can control. Of course if the few hundred ringgit is small change to you/peanut, then by all means go ahead. I know I won't give banks the few hundred ringgit.

Now you don't even need to travel to Singapore to open an account.

Well time for you to learn how to open SG bank account unless you like giving free money to banks
The answer to your question can be found inside
https://forum.lowyat.net/topic/1440794

This post has been edited by Ramjade: May 1 2020, 11:51 AM

not sure if anyone is interested, but free Canadian market data subs until end of this year.

Didnt know this.
Btw, whats your base currency?

mine is USD.

kantoi instarem i try 5 times bank in USD to IBKR Citibank USA tak boleh

kata recepient cannot see the 'name and notes'. Instarem insisted they sent the notes.

zz

can try transferwise?

Transfer via EUR then IBKR internal convert still cheaper though

open cimb sg ? and transfer from there ?

Don't transfer straight from bank. Any bank. Or else @Ramjade will come and say "you like giving free money to banks "

This post has been edited by erizdagreat: May 3 2020, 10:09 PM

Use Instarem, transfer to CIMB SG, then FAST transfer to your investment platform

When instarem fails, use more instarem.

I have a noob question here, I used instarem to transfer to my IBKR, then I have my sgd in IBKR, but the portfolio value also translated into USD. Do I still need to convert my SGD to USD to trade?

Yes, if the thing you are buying is in USD.

Hi guys, I've opened account with TSG.
Do I need to fund my IBKR account to activate? How much do I have to fund it?