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 Interactive Brokers (IBKR), IBKR users, welcome!

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TSmoosset
post Sep 28 2019, 09:11 PM, updated 2y ago

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Interactive Brokers (IBKR)
Updated: 25th Aug 2020.

To use IBKR, you have 3 options:
1. via IBKR main website;
2. via TradeStation Global, TSG (not to be confused with TradeStation International);
3. via Captrader, please refer to another thread.

via IBKR
Just google Interactive Brokers and register there.
There's a monthly activity / inactivity fee of $10 per month, but can be waived if your net liquidation (cash + equities + bonds etc) is above $100k.
If you can meet the min requirement, this would be better as their fees (and margin rates) are lower than TSG.

Fees - https://www1.interactivebrokers.com/en/index.php?f=1590


via TSG
No monthly inactivity fee if balance is above $2500.
After registration, you'll have access to two platforms:
1. You may use the IBKR platform known as Traders Work Station (TWS) on both Windows and MacOS.
2. You may also use the platform developed independently by TSG, only available on Windows.

Note: In order to link TSG with IBKR, you SHOULD open your IBKR via TSG website. You'll be redirected to an IBKR website (could be HK, Australia etc).
If you opened an IBKR yourself without going through TSG website, you may not be able to link these entities.

Fees - https://www.tradestation-international.com/...ng-commissions/


Money transfer
These methods have worked in the past:
1. InstaRem: transfer HKD, SGD, GBP to IBKR (EUR - worked for some, rejected for some (25th Aug 2020));
2. CIMB: transfer money (via CIMB transfer or InstaRem or Transferwise) to CIMB SG, from CIMB SG to IBKR in SGD;
» Click to show Spoiler - click again to hide... «
3. Transferwise: transfer SGD, AUD, GBP, EUR, HKD, CAD to IBKR (for Canadian dollars, it takes longer than usual. Beware!);
4. Bank Islam (over the counter);
5. Maybank Internet banking, about $25 for fees;
6. BigPay (to deposit SGD) but can't enter your own reference number.

Not proven yet:
1. deposit USD via InstaRem, Transferwise.


Notes:
1. Your IBKR base currency doesn't matter. You can deposit in any currency!!!
No automatic currency conversion. All currency conversion must be done manually on the platform. You want to buy SG stocks? You convert your money to SGD. You want to buy HK stocks? You convert your money to HKD. NO AUTOMATIC CONVERSION!!

2. For live market data, subscription fees may be required.
3. Whether it's account opening or trading or money transfer, it's really not that difficult. Just click, click, click.... and you'll find your way. Nothing is finalised until you click the final button CONFIRM etc etc. So, don't worry!

For more info:

https://forum.lowyat.net/topic/4744515
https://betterspider.com/funding-your-accou...ractivebrokers/


Special thanks to:
1. Ramjade
2. dwRK
3. Yggdrasil
4. powerlinkers
5. erizdagreat
6. Lakeambience
7. TOS


-----------------------------------------------------------------------

Updated 02 Jun 2020
For withdrawal, you can withdraw to your bank account in any developed country like Australia, UK, Singapore, HK etc.

Alternatively, you can also open an account with Transferwise and get a borderless account. It's possible to withdraw EUR from IBKR to TW Borderless account. I haven't tried other currencies yet but will keep this post updated as more info comes in from other users.

For more info: https://forum.lowyat.net/index.php?showtopi...post&p=96979697



-----------------------------------------------------------------------

more info, courtesy of polarzbearz

Step-by-step to getting started via TradeStation Global (Interactive Brokers)

This post has been edited by moosset: Jan 3 2021, 09:26 PM
collingwood
post Sep 28 2019, 10:54 PM

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I am using IBKR.

https://www.interactivebrokers.com/en/index.php?f=45196

They just launched IBKR Lite to compete with Robinhood in the US.

Zero commission for US ETF - an incredibly good deal especially now they dont require minimums.



Ramjade
post Sep 29 2019, 09:07 AM

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QUOTE(moosset @ Sep 28 2019, 09:11 PM)
I'm not sure how many of you are using IBKR and I was surprised that there's no thread dedicated to IBKR.

Any users here?

My account was approved a while ago but I haven't started funding it. Is it cheaper to trade US / SG stocks using IBKR than say MY brokers or SG brokers?

If you're using IBKR, what is your base currency?
*
You did not search hard enough
https://forum.lowyat.net/topic/3396549

I am a user

Of course is cheaper using IB to buy stocks from SG/US.
Reason is no quarterly platform fees. No dividend fees. No markup exchange rate With IB you get spot rate (real time rates used by banks to trade among themswlves).

Not to mentioned IB have fantastic rates. Way cheaper than any brokerage.

This post has been edited by Ramjade: Sep 29 2019, 09:09 AM
Cubalagi
post Sep 29 2019, 11:57 AM

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Wah.. Going big time trading foreign stocks..
acid_head
post Sep 29 2019, 01:19 PM

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Anyone trade Option using IB?
TSmoosset
post Sep 29 2019, 09:09 PM

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QUOTE(collingwood @ Sep 28 2019, 10:54 PM)
I am using IBKR.

https://www.interactivebrokers.com/en/index.php?f=45196

They just launched IBKR Lite to compete with Robinhood in the US.

Zero commission for US ETF - an incredibly good deal especially now they dont require minimums.
*
any major differences between IBKR Lite and PRO, other than Lite only for US stocks and ETF?
dwRK
post Sep 29 2019, 10:16 PM

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QUOTE(moosset @ Sep 29 2019, 09:09 PM)
any major differences between IBKR Lite and PRO, other than Lite only for US stocks and ETF?
*
They put up a comparison you didn't see?
adele123
post Sep 30 2019, 12:10 AM

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QUOTE(moosset @ Sep 28 2019, 09:11 PM)
I'm not sure how many of you are using IBKR and I was surprised that there's no thread dedicated to IBKR.

Any users here?

My account was approved a while ago but I haven't started funding it. Is it cheaper to trade US / SG stocks using IBKR than say MY brokers or SG brokers?

If you're using IBKR, what is your base currency?
*
After your post, did a quick research.

We notice IB charging lower minimum commission compared to maybank kim eng singapore in buying sgx stocks.

Am also finding this IB very very cheap.
arowana33
post Sep 30 2019, 12:12 AM

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Can make good money here? Or donate money...
Ramjade
post Sep 30 2019, 12:47 AM

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QUOTE(adele123 @ Sep 30 2019, 12:10 AM)
After your post, did a quick research.

We notice IB charging lower minimum commission compared to maybank kim eng singapore in buying sgx stocks.

Am also finding this IB very very cheap.
*
SG brokers are light years behind IB
TSmoosset
post Oct 1 2019, 05:18 PM

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QUOTE(collingwood @ Sep 28 2019, 10:54 PM)
I am using IBKR.

https://www.interactivebrokers.com/en/index.php?f=45196

They just launched IBKR Lite to compete with Robinhood in the US.

Zero commission for US ETF - an incredibly good deal especially now they dont require minimums.
*
are you using the Lite or Pro?
Ramjade
post Oct 1 2019, 06:43 PM

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QUOTE(moosset @ Oct 1 2019, 05:18 PM)
are you using the Lite or Pro?
*
Pro baru launch. Majority of us will be on full version of IB.
TSmoosset
post Oct 1 2019, 06:52 PM

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QUOTE(Ramjade @ Oct 1 2019, 06:43 PM)
Pro baru launch. Majority of us will be on full version of IB.
*
how much is your monthly transaction fee? more than 10 USD??

if less than 10USD, they charge until 10 USD right? unless you've more than 100k USD with them.
Ramjade
post Oct 1 2019, 06:54 PM

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QUOTE(moosset @ Oct 1 2019, 06:52 PM)
how much is your monthly transaction fee? more than 10 USD??

if less than 10USD, they charge until 10 USD right? unless you've more than 100k USD with them.
*
I use whitelabels of IB hence avoid paying the USD10/month charge. tongue.gif

Trade off is I pay higher commision than pure IB but the commision I paid is still at least 50% discount to what SG brokers will charged me + no pesky dividend tax/quarterly platform fee. I get full version of IB minus the pesky USD10/month fees.

This post has been edited by Ramjade: Oct 1 2019, 06:57 PM
TSmoosset
post Oct 1 2019, 10:07 PM

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QUOTE(Ramjade @ Oct 1 2019, 06:54 PM)
I use whitelabels of IB hence avoid paying the USD10/month charge. tongue.gif

Trade off is I pay higher commision than pure IB but the commision I paid is still at least 50% discount to what SG brokers will charged me + no pesky dividend tax/quarterly platform fee. I get full version of IB minus the pesky USD10/month fees.
*
sorry, what does whitelabels of IB mean?
Ramjade
post Oct 1 2019, 10:11 PM

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QUOTE(moosset @ Oct 1 2019, 10:07 PM)
sorry, what does whitelabels of IB mean?
*
Rebranded version of IB. Companies rent IB platform and market it as their own.

All info is found in the link I provided above. All you need to do is open and read it if you rajin. I did.

This post has been edited by Ramjade: Oct 1 2019, 10:14 PM
TSmoosset
post Oct 1 2019, 10:16 PM

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QUOTE(Ramjade @ Oct 1 2019, 10:11 PM)
Rebranded version of IB. Companies rent IB platform and market it as their own.

All info is found in the link I provided above. All you need to do is open and read it if you rajin. I did.
*
I see, thanks. I'll have a look.

I thought about using the normal Pro version but not sure if I can reach 10usd per month in commission.
Ramjade
post Oct 1 2019, 10:39 PM

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QUOTE(moosset @ Oct 1 2019, 10:16 PM)
I see, thanks. I'll have a look.

I thought about using the normal Pro version but not sure if I can reach 10usd per month in commission.
*
Just go with Whitelabels. Lite is only limited to US markets. You think I can hit USD10/month commision? No. That's why I opted to go with Whitelabels. Allow me the peace of mind of buying whenever I want and not forced buying.

Another thread on whitelabels
https://forum.lowyat.net/topic/4744515
The first thread is the original one with more info.

This post has been edited by Ramjade: Oct 1 2019, 10:41 PM
TSmoosset
post Oct 2 2019, 09:59 AM

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Ramjade

transferwise now allows transfer from MYR. Wouldn't it be cheaper to transfer straight from MYR to IBKR using transferwise, instead of MYR > CIMB MY > CIMB SG > IBKR? Although I'm not sure how to do it yet....
Ramjade
post Oct 2 2019, 10:11 AM

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QUOTE(moosset @ Oct 2 2019, 09:59 AM)
Ramjade

transferwise now allows transfer from MYR. Wouldn't it be cheaper to transfer straight from MYR to IBKR using transferwise, instead of MYR > CIMB MY > CIMB SG > IBKR? Although I'm not sure how to do it yet....
*
That's if IBKR accept third part transfer. So far I know they don't accept transferwise. They don't accept third part transfer for USD but they accept for EUR. It's a hit and miss. I rather not have my money stuck in limbo and take like 90 days to get it back. You are welcome to test and see if they accept 3rd party transfer.

After all IB exchange rates are super cheap. Is spot rate. Real time market forex rate which changes every 2nd. Commission only cost USD2/conversion.

Avoid going Cimb MY -> Cimb SG. Get robs by banks only. Used fintech to transfer your money. Avoid using banks in Malaysia at all cost to transfer your money. Last time no choice. Now we have quite a lot of choice.
dwRK
post Oct 2 2019, 10:48 AM

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QUOTE(Ramjade @ Oct 1 2019, 10:39 PM)
Lite is only limited to US markets.
*
US market no commission...rest of the world still can but pay normal fees (not sure quantum yet)
dwRK
post Oct 2 2019, 10:54 AM

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btw...charles schwab is also pressured to offer commission free for us stocks starting oct 7.

tdameritrade is also slashing to zero

This post has been edited by dwRK: Oct 2 2019, 10:56 AM
TSmoosset
post Oct 2 2019, 11:30 AM

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QUOTE(dwRK @ Oct 2 2019, 10:54 AM)
btw...charles schwab is also pressured to offer commission free for us stocks starting oct 7.

tdameritrade is also slashing to zero
*
so which one is better?

IBKR Lite is not yet available right? Didn't see it yet.
dwRK
post Oct 2 2019, 11:59 AM

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QUOTE(moosset @ Oct 2 2019, 11:30 AM)
so which one is better?

IBKR Lite is not yet available right? Didn't see it yet.
*
Charting platform = TDA (withdrawal cost $25)
Lowest fees = IBKR and its introducing brokers (1st withdrawal per month free)
International market = IBKR

Also depends on what you trade and how you trade...shares, futures, options, forex, etc. Long term hold vs scalping...

Btw...can open demo account and try see whichever you like, and no one is stopping you from opening both.

I'm using TDA, I like it so much better, but your mileage may vary. Plan to open IBKR soon to dispose of some EU stocks.

This post has been edited by dwRK: Oct 2 2019, 12:00 PM
TSmoosset
post Oct 2 2019, 12:15 PM

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QUOTE(dwRK @ Oct 2 2019, 11:59 AM)
Charting platform = TDA (withdrawal cost $25)
Lowest fees = IBKR and its introducing brokers (1st withdrawal per month free)
International market = IBKR

Also depends on what you trade and how you trade...shares, futures, options, forex, etc. Long term hold vs scalping...

Btw...can open demo account and try see whichever you like, and no one is stopping you from opening both.

I'm using TDA, I like it so much better, but your mileage may vary. Plan to open IBKR soon to dispose of some EU stocks.
*
ah, thanks!

I've another European broker. Can I switch my stocks from one broker to another?
Ramjade
post Oct 2 2019, 12:36 PM

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QUOTE(moosset @ Oct 2 2019, 11:30 AM)
so which one is better?

IBKR Lite is not yet available right? Didn't see it yet.
*
Depends in you lo. If you want to keep your cost low, IBKR.
If your purpose is US stocks only maybe and you want pretty interface maybe TD Ameritrade.

For me I am a cost guy. So my option is bias towards IBKR. I choose IBKR for few reasons.
1. super cheap. You can't find another broker at this price set. Believed me I have looked
2. just works. Does what it needs me to do. Cheap does not mean low quality. I am satisfied with IB.
3. Access to spot rates for foreign currency conversion. Even with priority banking, one can never get such good rates.

QUOTE(moosset @ Oct 2 2019, 12:15 PM)
ah, thanks!

I've another European broker. Can I switch my stocks from one broker to another?
*
Yes can. Be prepared to fork out expensive transfer fees.
dwRK
post Oct 2 2019, 01:02 PM

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QUOTE(moosset @ Oct 2 2019, 12:15 PM)
ah, thanks!

I've another European broker. Can I switch my stocks from one broker to another?
*
Best check out transfer fees and trading fees for your shares... mine is free transfer so is worth it

TDA doesn't do EU stocks. Charles Schwab International costs just as much as my EU broker so no point.

So for EU stocks left only IBKR.

Ps...In addition to having a pretty interface, TDA has some charts and indicators that IBKR just doesn't have... so TDA is like BMW with full package vs IBKR's Perodua... both gets you A to B...but moot point lah if wanna dispose of EU stocks

This post has been edited by dwRK: Oct 2 2019, 01:12 PM
TSmoosset
post Oct 2 2019, 08:46 PM

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QUOTE(Ramjade @ Oct 2 2019, 12:36 PM)
Depends in you lo. If you want to keep your cost low, IBKR.
If your purpose is US stocks only maybe and you want pretty interface maybe TD Ameritrade.

For me I am a cost guy. So my option is bias towards IBKR. I choose IBKR for few reasons.
1. super cheap. You can't find another broker at this price set. Believed me I have looked
2. just works. Does what it needs me to do. Cheap does not mean low quality. I am satisfied with IB.
3. Access to spot rates for foreign currency conversion. Even with priority banking,  one can never get such good rates.
Yes can. Be prepared to fork out expensive transfer fees.
*
QUOTE(dwRK @ Oct 2 2019, 01:02 PM)
Best check out transfer fees and trading fees for your shares... mine is free transfer so is worth it

TDA doesn't do EU stocks. Charles Schwab International costs just as much as my EU broker so no point.

So for EU stocks left only IBKR.

Ps...In addition to having a pretty interface, TDA has some charts and indicators that IBKR just doesn't have... so TDA is like BMW with full package vs IBKR's Perodua... both gets you A to B...but moot point lah if wanna dispose of EU stocks
*
Thanks!
I'm currently leaning towards IBKR Lite since I want access to US stocks & ETF. I'm also not very good with charts and indicators, only know some simple technical trading indicators.

I'd also like to enter SG REITs market but maybe I don't need it, considering the additional cost.

My European broker doesn't allow US ETF trading, that's why I registered for IB. I hold some US stocks with them, so was thinking of transferring. Nah, maybe not lah... just too much trouble. I currently pay 0.25% brokerage with this broker.
Ramjade
post Oct 2 2019, 09:01 PM

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QUOTE(moosset @ Oct 2 2019, 08:46 PM)
Thanks!
I'm currently leaning towards IBKR Lite since I want access to US stocks & ETF. I'm also not very good with charts and indicators, only know some simple technical trading indicators.

I'd also like to enter SG REITs market but maybe I don't need it, considering the additional cost.

My European broker doesn't allow US ETF trading, that's why I registered for IB. I hold some US stocks with them, so was thinking of transferring. Nah, maybe not lah... just too much trouble. I currently pay 0.25% brokerage with this broker.
*
I don't use charts so charting is of no importance to me as I am buy and hold guy. I see cheap, I buy. Never sell unless maybe got some fundamental changes

IF your buy price is 1-2% different from current price, just sell and re-buy again. If you are like me where I am sitting on 30% gains and if sell definitely won't be able to buy back at original price, I have no choice of selling and my only option is transferring.
dwRK
post Oct 2 2019, 09:07 PM

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QUOTE(moosset @ Oct 2 2019, 08:46 PM)
Thanks!
I'm currently leaning towards IBKR Lite since I want access to US stocks & ETF. I'm also not very good with charts and indicators, only know some simple technical trading indicators.

I'd also like to enter SG REITs market but maybe I don't need it, considering the additional cost.

My European broker doesn't allow US ETF trading, that's why I registered for IB. I hold some US stocks with them, so was thinking of transferring. Nah, maybe not lah... just too much trouble. I currently pay 0.25% brokerage with this broker.
*
Np. Just ask them to switch you to lite when available. Btw, I think you should be able to buy EU domiciled US ETF from your EU broker. The folks over at the diy s&p500 thread are buying Irish domiciled US ETF from German exchanges.

My broker charges minimum of 20 Euro + I think 0.25% above certain traded value. Lol


TSmoosset
post Oct 2 2019, 09:18 PM

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QUOTE(dwRK @ Oct 2 2019, 09:07 PM)
Np. Just ask them to switch you to lite when available. Btw, I think you should be able to buy EU domiciled US ETF from your EU broker. The folks over at the diy s&p500 thread are buying Irish domiciled US ETF from German exchanges.

My broker charges minimum of 20 Euro + I think 0.25% above certain traded value. Lol
*
wow!! This is too expensive!! shakehead.gif

mine is €1 or 0.25%, whichever is higher.
dwRK
post Oct 3 2019, 08:48 AM

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QUOTE(moosset @ Oct 2 2019, 09:18 PM)
wow!! This is too expensive!!  shakehead.gif

mine is €1 or 0.25%, whichever is higher.
*
ya...custodian type broker assisted full service type...lol
TSmoosset
post Oct 3 2019, 06:11 PM

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IBKR Lite is only available to US & India residents!!

bangwall.gif
Ramjade
post Oct 3 2019, 06:25 PM

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QUOTE(moosset @ Oct 3 2019, 06:11 PM)
IBKR Lite is only available to US & India residents!!

bangwall.gif
*
Just use their whitelabels. Settled.
dwRK
post Oct 4 2019, 08:42 AM

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QUOTE(moosset @ Oct 3 2019, 06:11 PM)
IBKR Lite is only available to US & India residents!!

bangwall.gif
*
Aiyah... but no big loss really if you trade EU stocks...

"For products not entitled to zero-commission trading under IBKR Lite, the same commission structure will apply to both IBKR Lite and IBKR Pro. Where applicable, a "Fixed" commission model will apply to IBKR Lite clients for such products."

Pro you can select much cheaper tier commissions...

Hope TDA don't play such a stunt and limit commission free trades to US only...

I guess you'll proceed to fund your Pro account? You realize the monthly min $10 commission/fee if total assets <$100k right?

Ramjade
post Oct 4 2019, 08:57 AM

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QUOTE(dwRK @ Oct 4 2019, 08:42 AM)
Aiyah... but no big loss really if you trade EU stocks...

"For products not entitled to zero-commission trading under IBKR Lite, the same commission structure will apply to both IBKR Lite and IBKR Pro. Where applicable, a "Fixed" commission model will apply to IBKR Lite clients for such products."

Pro you can select much cheaper tier commissions...

Hope TDA don't play such a stunt and limit commission free trades to US only...

I guess you'll proceed to fund your Pro account? You realize the monthly min $10 commission/fee if total assets <$100k right?
*
As mentioned the USD10/month can easily be bypass by going with Whitelabels.
dwRK
post Oct 4 2019, 09:33 AM

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QUOTE(Ramjade @ Oct 4 2019, 08:57 AM)
As mentioned the USD10/month can easily be bypass by going with Whitelabels.
*
Yeah... just a prompt to him... he may have >$100k or trading fee >$10 so is non-issue & Pro is cheaper

This post has been edited by dwRK: Oct 4 2019, 09:39 AM
TSmoosset
post Oct 4 2019, 12:46 PM

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QUOTE(dwRK @ Oct 4 2019, 08:42 AM)
Aiyah... but no big loss really if you trade EU stocks...

"For products not entitled to zero-commission trading under IBKR Lite, the same commission structure will apply to both IBKR Lite and IBKR Pro. Where applicable, a "Fixed" commission model will apply to IBKR Lite clients for such products."

Pro you can select much cheaper tier commissions...

Hope TDA don't play such a stunt and limit commission free trades to US only...

I guess you'll proceed to fund your Pro account? You realize the monthly min $10 commission/fee if total assets <$100k right?
*
QUOTE(dwRK @ Oct 4 2019, 09:33 AM)
Yeah... just a prompt to him... he may have >$100k or trading fee >$10 so is non-issue & Pro is cheaper
*
No, I don't plan to invest 100k USD even if I had that amount now. That's why would be nice if I could use IBKR lite.
Now have to look for whitelabels instead.

I'm not sure which country or region that I have more faith. EU/UK/US .... sad.gif
Everything is so uncertain now.

This post has been edited by moosset: Oct 4 2019, 12:49 PM
dwRK
post Oct 4 2019, 01:25 PM

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QUOTE(moosset @ Oct 4 2019, 12:46 PM)
No, I don't plan to invest 100k USD even if I had that amount now. That's why would be nice if I could use IBKR lite.
Now have to look for whitelabels instead.

I'm not sure which country or region that I have more faith. EU/UK/US ....  sad.gif
Everything is so uncertain now.
*
Tradestation global or captrader... you check them out lor.... And rich ppl never say they are rich wink.gif

Recession hits all will goes down the drain...no such thing as a safe region.
Cubalagi
post Oct 4 2019, 01:28 PM

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QUOTE(dwRK @ Oct 4 2019, 01:25 PM)

Recession hits all will goes down the drain...no such thing as a safe region.
*
But there will be safe asset classes.
TSmoosset
post Oct 4 2019, 03:07 PM

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Ramjade I saw the option to link my IB acc with TradeStation global.

If I trade with TradeStation now, can I change to pure IB later?
TSmoosset
post Oct 4 2019, 03:27 PM

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QUOTE(Ramjade @ Oct 2 2019, 10:11 AM)
That's if IBKR accept third part transfer. So far I know they don't accept transferwise. They don't accept third part transfer for USD but they accept for EUR. It's a hit and miss. I rather not have my money stuck in limbo and take like 90 days to get it back. You are welcome to test and see if they accept 3rd party transfer.

*
Oh ..... I totally forgot that it was Transferwise bank acc that will transfer money to IBKR, not me.

but then, now Transferwise has USD bank acc details for users, which mean, the bank acc is under my name.
So technically, it is me that transfer money from my Transferwise bank acc (under my name) to IBKR?? If so, then I don't need to transfer money to SG already.
Ramjade
post Oct 4 2019, 04:24 PM

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QUOTE(moosset @ Oct 4 2019, 03:07 PM)
Ramjade I saw the option to link my IB acc with TradeStation global.

If I trade with TradeStation now, can I change to pure IB later?
*
Is memang link already

Your choice. You can trade via tradestation program or IBKR website/program. Up to you.

For me I sign up via Tradestation global, then everything from customer service, buying, depositing money all I use IBKR website/deal with IKR. I never even bother about Tradestation global apart from opening account time.

QUOTE(moosset @ Oct 4 2019, 03:27 PM)
Oh ..... I totally forgot that it was Transferwise bank acc that will transfer money to IBKR, not me.

but then, now Transferwise has USD bank acc details for users, which mean, the bank acc is under my name.
So technically, it is me that transfer money from my Transferwise bank acc (under my name) to IBKR?? If so, then I don't need to transfer money to SG already.
*
Wrong. Transferwise will transfer under their name. Not yours. Recipient side will see Transferwise name and not yours.

This post has been edited by Ramjade: Oct 4 2019, 04:24 PM
TSmoosset
post Oct 4 2019, 04:36 PM

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QUOTE(Ramjade @ Oct 4 2019, 04:24 PM)

Wrong. Transferwise will transfer under their name. Not yours. Recipient side will see Transferwise name and not yours.
*
ah, yes. You're right. The acc details with my name can only be used to receive USD, can't be used to send USD.


"Your bank details to receive USD

Use your bank details to receive USD from friends and businesses.
"
huat0823
post Oct 7 2019, 11:13 AM

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Quick check with everyone. What are the alternative platform other than IBKR platform?
Ramjade
post Oct 7 2019, 11:00 PM

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QUOTE(moosset @ Oct 4 2019, 04:36 PM)
ah, yes. You're right. The acc details with my name can only be used to receive USD, can't be used to send USD.
"Your bank details to receive USD

Use your bank details to receive USD from friends and businesses.
"
*
You are wrong again.
You can use transferwise to send USD. Question is if receiver gside got issue with third party name. If no issue, your transfer will go through.
TSmoosset
post Oct 8 2019, 01:16 AM

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QUOTE(Ramjade @ Oct 7 2019, 11:00 PM)
You are wrong again.
You can use transferwise to send USD.
Question is if receiver gside got issue with third party name. If no issue,  your transfer will go through.
*
Yes, transferwise can of course send USD; but I'm talking about the Transferwise physical bank account details for transferwise user.
I've USD bank account details provided by Transferwise to receive USD, that account doesn't send out USD, I think. If it does, then it should be in my name.

The italic part is copied from the transferwise website.
Ramjade
post Oct 8 2019, 10:01 AM

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QUOTE(moosset @ Oct 8 2019, 01:16 AM)
Yes, transferwise can of course send USD; but I'm talking about the Transferwise physical bank account details for transferwise user.
I've USD bank account details provided by Transferwise to receive USD, that account doesn't send out USD, I think. If it does, then it should be in my name.

The italic part is copied from the transferwise website.
*
That account doesn't send USD but when you send USD, it's deducted from that USD account.
TSmoosset
post Oct 9 2019, 02:25 AM

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Ramjade

While waiting for my tradestation account to be approved, I've a question.
The min trade for TradeStation is USD5, while IBKR charges USD10.
So, if I trade twice a month, then IBKR is actually ok?

Now I think about it, M'sian brokers are also not cheap.
if buy RM 10k stocks, RM 10 clearing + RM10 brokerage + 0.03% + VAT, also about USD5.
Ramjade
post Oct 9 2019, 07:10 AM

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QUOTE(moosset @ Oct 9 2019, 02:25 AM)
Ramjade

While waiting for my tradestation account to be approved, I've a question.
The min trade for TradeStation is USD5, while IBKR charges USD10.
So, if I trade twice a month, then IBKR is actually ok?

Now I think about it, M'sian brokers are also not cheap.
if buy RM 10k stocks, RM 10 clearing + RM10 brokerage + 0.03% + VAT, also about USD5.
*
I don't know where are you getting USD5 and USD10. Tradestation only charge you min USD1.50
https://www.tradestation-international.com/...ng-commissions/

There's a different between tradestation and tradestation global. Tradestation global is the whitelabels of IB.

For pure IB is only USD0.35.
https://www.interactivebrokers.com/en/index...=1590&p=stocks2

Nope Malaysian broker more expensive. Higher markup exchange rate vs spot exchange rate.
Quaternary platform fees.
Dividend fees.
You do that maths again.
dwRK
post Oct 9 2019, 08:08 AM

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QUOTE(moosset @ Oct 9 2019, 02:25 AM)
Ramjade

While waiting for my tradestation account to be approved, I've a question.
The min trade for TradeStation is USD5, while IBKR charges USD10.
So, if I trade twice a month, then IBKR is actually ok?

Now I think about it, M'sian brokers are also not cheap.
if buy RM 10k stocks, RM 10 clearing + RM10 brokerage + 0.03% + VAT, also about USD5.
*
$1.50 vs $1.00 IBKR fixed fee, $0.35 tiered fee for US stocks

If trade 2x per month but commissions <$10 and account <$100k... ibkr will charge you $10 for every month onwards... so $120 fee per year for small account investors hehehe

This post has been edited by dwRK: Oct 9 2019, 08:17 AM
TSmoosset
post Oct 19 2019, 11:01 AM

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Finally got my TradeStation Global acc approved.

It seems I could transfer USD from IB to Transferwise (USD bank acc), but I'm not sure how to transfer MYR to IB. I'm trying now to see if it works.
fauxylar
post Oct 25 2019, 09:24 AM

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QUOTE(moosset @ Oct 19 2019, 11:01 AM)
Finally got my TradeStation Global acc approved.

It seems I could transfer USD from IB to Transferwise (USD bank acc), but I'm not sure how to transfer MYR to IB. I'm trying now to see if it works.
*
Any updates on this? Looking to make my first deposit and want to know if there’s a better way than bank wire transfer
nikizwan
post Oct 25 2019, 10:50 PM

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I have IB account. I did TT from my hong leong account to my IB account. no problem
Ramjade
post Oct 26 2019, 07:55 AM

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QUOTE(fauxylar @ Oct 25 2019, 09:24 AM)
Any updates on this? Looking to make my first deposit and want to know if there’s a better way than bank wire transfer
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QUOTE(nikizwan @ Oct 25 2019, 10:50 PM)
I have IB account. I did TT from my hong leong account to my IB account. no problem
*
Keep in mind over long time you will be bleeding lots of money to banks if you use TT to interactive broker.
Yggdrasil
post Oct 26 2019, 10:23 PM

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Off topic newbie question here. Is IBKR the cheapest for trading US stocks as a Malaysian (stocks not ETF)?

Also, what is the fee per trade? I see different quotation from different websites.
Ramjade
post Oct 26 2019, 11:23 PM

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QUOTE(Yggdrasil @ Oct 26 2019, 10:23 PM)
Off topic newbie question here. Is IBKR the cheapest for trading US stocks as a Malaysian (stocks not ETF)?

Also, what is the fee per trade? I see different quotation from different websites.
*
With zero commission war between brokers for US market I think Charles schwab is the winner.
The question is whether you can open it as a Malaysian or not.

If you cannot have access to those zero commision brokers, then yes interactive broker is the cheapest.
If you op for pure interactive broker and if you choose tiered pricing (the cheapest option) is few cents per transaction. If few cents I won't even bother counting.

If you have no money for pure interactive broker like yours truly and op for whitelabels (rebranded version of interactive broker by other companies but still interactive broker), it cost about USD2-4 depending on which whitelabels are you using.

TSmoosset
post Oct 27 2019, 02:17 PM

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QUOTE(fauxylar @ Oct 25 2019, 09:24 AM)
Any updates on this? Looking to make my first deposit and want to know if there’s a better way than bank wire transfer
*
If you're using pure IBKR (US) and not via another party, then I think it's possible. There are some info on another forum.

But I'm using a whitelabel and that IBKR is UK based, so it doesn't seem possible. I've contacted both Transferwise and IBKR regarding this:

From transferwise,
QUOTE
Thank you for the email and apologies for the late reply!

Unfortunately, we cannot send funds there as it is a FFC payment meant for a wire. We can only send domestic ACH payments to accounts located IN the US. Additionally, Interactive Brokers doesn't receive ACH payments from 3rd parties.

Should you have any other questions, please feel free to reach out to us! We are always happy to assist you!


From IBKR,
QUOTE

While it is possible to deposit funds from Transferwise, the transfer would need to meet the following conditions:

The funds would need to originate from an account tiled the same as the IBKR account;
The deposit payment details would need to include your account ID and title.
Based upon prior experience, Transferwise generally does not include the required information in the payment details and, if this is the case, the funds will be returned as unidentified.
Yggdrasil
post Oct 28 2019, 02:40 AM

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Does anyone know whether Tradestation and IBKR allow people to buy 1 unit of US stock? Usually its 100 units right?

I wanted to build a portfolio of FAANMG stocks but some are so expensive that I can only afford 1 unit. sad.gif
Yggdrasil
post Oct 28 2019, 03:05 AM

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QUOTE(Ramjade @ Oct 26 2019, 11:23 PM)
With zero commission war between brokers for US market I think Charles schwab is the winner.
The question is whether you can open it as a Malaysian or not.

If you cannot have access to those zero commision brokers, then yes interactive broker is the cheapest.
If you op for pure interactive broker and if you choose tiered pricing (the cheapest option)  is few cents per transaction. If few cents I won't even bother counting.

If you have no money for pure interactive broker like yours truly and op for whitelabels (rebranded version of interactive broker by other companies but still interactive broker), it cost about USD2-4 depending on which whitelabels are you using.
*
One more thing. What is the minimum amount in USD we need to open an account? I saw it says need minimum 10,000USD? rclxub.gif

Ramjade
post Oct 28 2019, 11:02 AM

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QUOTE(Yggdrasil @ Oct 28 2019, 03:05 AM)
One more thing. What is the minimum amount in USD we need to open an account? I saw it says need minimum 10,000USD?  rclxub.gif
*
Apparently no.
https://www.elitetrader.com/et/threads/does...minimum.329812/
Keep in mind the inactivity fees. Less than USD2k in cash or stocks = USD20/month. Less than USD100k = USD10/month.
kart
post Oct 28 2019, 03:01 PM

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QUOTE(Ramjade @ Oct 28 2019, 11:02 AM)
Apparently no.
https://www.elitetrader.com/et/threads/does...minimum.329812/
Keep in mind the inactivity fees. Less than USD2k in cash or stocks = USD20/month. Less than USD100k = USD10/month.
*
If we are using whitelabel such as TradeStation, will whitelabel or Interactive Brokers charge us inactivity fees, if we do not perform minimum number of share transactions (less than $20 of monthly commissions) every single month?
dwRK
post Oct 28 2019, 05:48 PM

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QUOTE(kart @ Oct 28 2019, 03:01 PM)
If we are using whitelabel such as TradeStation, will whitelabel or Interactive Brokers charge us inactivity fees, if we do not  perform minimum number of share transactions (less than $20 of monthly commissions) every single month?
*
No fee.
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post Oct 28 2019, 05:56 PM

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AFAIK... how much funds you have determine the types of products you are allowed to trade... margin stuff will need mucho $
Ramjade
post Oct 28 2019, 06:18 PM

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QUOTE(kart @ Oct 28 2019, 03:01 PM)
If we are using whitelabel such as TradeStation, will whitelabel or Interactive Brokers charge us inactivity fees, if we do not  perform minimum number of share transactions (less than $20 of monthly commissions) every single month?
*
Whitelabels memang got no inactivity fees.
You paid for it by paying higher commission. Pure IB few cents per transaction, whitelabels $2-4/transaction. Which is still cheap.
kart
post Oct 29 2019, 04:26 AM

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QUOTE(dwRK @ Oct 28 2019, 05:48 PM)
No fee.
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QUOTE(Ramjade @ Oct 28 2019, 06:18 PM)
Whitelabels memang got no inactivity fees.
You paid for it by paying higher commission. Pure IB few cents per transaction, whitelabels $2-4/transaction. Which is still cheap.
*
Thank you for your respective replies, dwRK and Ramjade. notworthy.gif

For common people like us, Whitelabels suits us well. No inactivity fees and the requirement to perform minimum number of share transactions every single month.
Ramjade
post Oct 29 2019, 05:43 AM

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QUOTE(kart @ Oct 29 2019, 04:26 AM)
Thank you for your respective replies, dwRK and Ramjade.  notworthy.gif

For common people like us, Whitelabels suits us well. No inactivity fees and the requirement to perform minimum number of share transactions every single month.
*
Once you hit USD200k, open an account with pure interactive broker. Perform an internal transfer and close the Whitelabels.
zenjiazenjia
post Oct 29 2019, 07:41 AM

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Guy, want to ask. I went to tradestation website to open an account, somehow during registration, it direct me to ibkr. Now when I login ibkr and tradestation using same login, is it correct? So I am opening account with ibkr or tradestation and the fees/charges follow which platform?
Anyway the account still pending approval.
Ramjade
post Oct 29 2019, 09:24 AM

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QUOTE(zenjiazenjia @ Oct 29 2019, 07:41 AM)
Guy,  want to ask.  I went to tradestation website to open an account, somehow during registration,  it direct me to ibkr.  Now when I login ibkr and tradestation using same login,  is it correct?  So I am opening account with ibkr or tradestation and the fees/charges follow which platform?
Anyway the account still pending approval.
*
Normal.

No. After this you login via Interacrive broker page. No need for tradestation global already.

Fees follow what's written on tradestation global page unless you initiate an internal transfer to pure interactive broker.


zenjiazenjia
post Oct 29 2019, 10:45 AM

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QUOTE(Ramjade @ Oct 29 2019, 09:24 AM)
Normal.

No. After this you login via Interacrive broker page. No need for tradestation global already.

Fees follow what's written on tradestation global page unless you initiate an internal transfer to pure interactive broker.
*
Thanks for the explanation.
Will need further explore on fund transfer method. Still not really clear on that. Never transfer money out from Malaysia.
zenjiazenjia
post Oct 30 2019, 12:46 PM

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Guys, i wanted try transfer fund to IBKR from my standchart account, see can pass thru or not. i already created a bank wire deposit request in IBKR and have beneficiary and bank details. when i fill i standard chartered international transfer form via online banking, most of it fields input i can find from the info from IBKR, but not sure what to fill for below. need some advise on my 1st international transfer

ID / PASSPORT NO: (is it account number)
CHARGES: (3 options to select), 1) all local & oversea charges borne by applicant, 2) all local & oversea charges borne by beneficiary, 3) local charges borne by applicant, oversea charges borne by beneficiary

by the way, i saw the beneficiary is Interactive Brokers UK Limited, address is UK, but the bank is in new york, US, is this normal?
livina2011
post Oct 30 2019, 01:18 PM

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i was curious how you guys trade US stocks. do you buy USD at our bank rate and TT to IBKR then trade over there in USD then when you want to use money or take some profit only then you exchange your USD back to malaysia bank. if that's the case does the spot USD makes any difference while you trade over there at IBKR? assuming you don't convert back to MYR everytime you sell your US stocks.

Our local bank that offer US stocks don't have withdrawal fee, inactivity fee, monthly trading platform fee.
Ramjade
post Oct 30 2019, 03:14 PM

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QUOTE(zenjiazenjia @ Oct 30 2019, 12:46 PM)
Guys, i wanted try transfer fund to IBKR from my standchart account, see can pass thru or not. i already created a bank wire deposit request in IBKR and have beneficiary and bank details. when i fill i standard chartered international transfer form via online banking, most of it fields input i can find from the info from IBKR, but not sure what to fill for below. need some advise on my 1st international transfer

ID / PASSPORT NO: (is it account number)
CHARGES: (3 options to select), 1) all local & oversea charges borne by applicant, 2) all local & oversea charges borne by beneficiary, 3) local charges borne by applicant, oversea charges borne by beneficiary

by the way, i saw the beneficiary is Interactive Brokers UK Limited, address is UK, but the bank is in new york, US, is this normal?
*
Don't bother using standard chartered. Final amount which suppose to end up will be lesser say about USD50-100. All kena makan up by standard charted.

But to humour you,
ID should be your unique interactive username usually UTXXXXX.
Charges you pay everything yourself. Pick option 1. Again as mentioned after doing all that, final amount that appear in interactive broker will be lesser. Banks makan your money already (through invisible fees, unfavourable exchange rate)

Yes. Normal. Tradestation global is for IB UK. But since you are transferring I assume is USD, of course the bank is in New York.

QUOTE(livina2011 @ Oct 30 2019, 01:18 PM)
i was curious how you guys trade US stocks. do you buy USD at our bank rate and TT to IBKR then trade over there in USD then when you want to use money or take some profit only then you exchange your USD back to malaysia bank. if that's the case does the spot USD makes any difference while you trade over there at IBKR? assuming you don't convert back to MYR everytime you sell your US stocks.

Our local bank that offer US stocks don't have withdrawal fee, inactivity fee, monthly trading platform fee.
*
We never use Malaysian banks to TT. Well some might. Bloody expensive. What most people do is transfer SGD into interactive broker account via FAST (Singapore version of IBFT). From there, once money available just convert at spot rate into USD. Pay USD2.00 only for spot rate (real time market rates which banks use for themselves).

There's a tutorial over here.
https://forum.lowyat.net/topic/4744515

Difference is a lot over time.

I don't know what US stocks you are talking about. Malaysian banks don't let you buy or sell US stocks. You need a stock broker to do that. As far as I know all stock brokers in Malaysia charente a hefty fee for overseas stock purchased from say NYSE and Nasdaq.
zenjiazenjia
post Oct 30 2019, 04:01 PM

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QUOTE(Ramjade @ Oct 30 2019, 03:14 PM)
Don't bother using standard chartered. Final amount which suppose to end up will be lesser say about USD50-100. All kena makan up by standard charted.

But to humour you,
ID should be your unique interactive username usually UTXXXXX.
Charges you pay everything  yourself. Pick option 1. Again as mentioned after doing all that, final amount that appear in interactive broker will be lesser. Banks makan your money already (through invisible fees, unfavourable exchange rate)

Yes. Normal. Tradestation global is for IB UK. But since you are transferring I assume is USD,  of course the bank is in New York.
We never use Malaysian banks to TT. Well some might. Bloody expensive. What most people do is transfer SGD into interactive broker account via FAST (Singapore version of IBFT). From there, once money available just convert at spot rate into USD. Pay USD2.00 only for spot rate (real time market rates which banks use for themselves).

There's a tutorial over here.
https://forum.lowyat.net/topic/4744515

Difference is a lot over time.

I don't know what US stocks you are talking about. Malaysian banks don't let you buy or sell US stocks. You need a stock broker to do that. As far as I know all stock brokers in Malaysia charente a hefty fee for overseas stock purchased from say NYSE and Nasdaq.
*
Thanks for highlighting this. If using instarem transfer fund to IBKR. how about later for withdrawal, how it works?
and let's say i transfer USD into IBKR, if i would like to buy Hong Kong stocks, how it works? do i need to convert to HKD?
TSmoosset
post Oct 30 2019, 06:18 PM

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QUOTE(zenjiazenjia @ Oct 30 2019, 04:01 PM)
Thanks for highlighting this. If using instarem transfer fund to IBKR. how about later for withdrawal, how it works?
and let's say i transfer USD into IBKR, if i would like to buy Hong Kong stocks, how it works? do i need to convert to HKD?
*
cannot use instarem to move fund to IBKR.
IBKR doesn't accept fund from third party, generally speaking. IBKR needs to get the fund from you and your bank account.
Instarem has your name, but they don't use your bank acc to transfer fund, so cannot.

for the second Q, yes.
Ramjade
post Oct 30 2019, 06:28 PM

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QUOTE(zenjiazenjia @ Oct 30 2019, 04:01 PM)
Thanks for highlighting this. If using instarem transfer fund to IBKR. how about later for withdrawal, how it works?
and let's say i transfer USD into IBKR, if i would like to buy Hong Kong stocks, how it works? do i need to convert to HKD?
*
I never test instarem with interactive broker. Yes convert. Alternatively can try bank in HKD100 into interactive broker via instarem and see if it gets rejected.
You can TT back to malaysian banks which will be a pain in the ass as again banks will eat up majority of your money.

For me very simple. IBKR (SGD) -> SG bank account -> SG fintech to trasnfer money back to malaysia. I avoid using banks.

QUOTE(moosset @ Oct 30 2019, 06:18 PM)
cannot use instarem to move fund to IBKR.
IBKR doesn't accept fund from third party, generally speaking. IBKR needs to get the fund from you and your bank account. 
Instarem has your name, but they don't use your bank acc to transfer fund, so cannot.

for the second Q, yes.
*
Actually can use for EUR transfer for instarem. Tried and tested. USD and other currency don't know.
TSmoosset
post Oct 30 2019, 07:00 PM

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QUOTE(Ramjade @ Oct 30 2019, 06:28 PM)

Actually can use for EUR transfer for instarem. Tried and tested. USD and other currency don't know.
*
eh, really? IBKR accepts EUR via Instarem?? drool.gif

wah... then I've to try it lo....
TSmoosset
post Oct 30 2019, 07:05 PM

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QUOTE(Ramjade @ Oct 30 2019, 06:28 PM)
Actually can use for EUR transfer for instarem. Tried and tested. USD and other currency don't know.
*
how come my instarem account says this "Note: Currently, we only support EUR as a sending currency. Please ensure you hold EUR account, otherwise your bank may charge you additionally for currency conversion for which InstaReM would not be liable." ??
Ramjade
post Oct 30 2019, 07:31 PM

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QUOTE(moosset @ Oct 30 2019, 07:00 PM)
eh, really? IBKR accepts EUR via Instarem??  drool.gif

wah... then I've to try it lo....
*
According to alexkos. He tested it.
zenjiazenjia
post Oct 30 2019, 09:08 PM

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QUOTE(Ramjade @ Oct 30 2019, 06:28 PM)
I never test instarem with interactive broker. Yes convert. Alternatively can try bank in HKD100 into interactive broker via instarem and see if it gets rejected.
You can TT back to malaysian banks which will be a pain in the ass as again banks will eat up majority of your money.

For me very simple. IBKR (SGD) -> SG bank account -> SG fintech to trasnfer money back to malaysia. I avoid using banks.
Actually can use for EUR transfer for instarem. Tried and tested. USD and other currency don't know.
*
i see. i will go with this path then

remittance - instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD/HKD)
withdraw - IBKR (convert SGD) -> IBKR(SGD) -> SG CIMB FastSaver(SGD) -> (MYR)To find out more
Ramjade
post Oct 30 2019, 09:16 PM

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QUOTE(zenjiazenjia @ Oct 30 2019, 09:08 PM)
i see. i will go with this path then

remittance - instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD/HKD)
withdraw - IBKR (convert SGD) -> IBKR(SGD) -> SG CIMB FastSaver(SGD) -> (MYR)To find out more
*
withdraw - IBKR (convert SGD) -> IBKR(SGD) -> SG CIMB FastSaver(SGD) -> MY CIMB (MYR)To find out more
- this one rates not bad.
- alternative can use transferwise to bring money back. Usually my money is one way. I never bring any money back. No point lose money converting back to RM.

This post has been edited by Ramjade: Oct 30 2019, 09:19 PM
livina2011
post Oct 30 2019, 11:56 PM

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QUOTE(Ramjade @ Oct 30 2019, 03:14 PM)
We never use Malaysian banks to TT. Well some might. Bloody expensive. What most people do is transfer SGD into interactive broker account via FAST (Singapore version of IBFT). From there, once money available just convert at spot rate into USD. Pay USD2.00 only for spot rate (real time market rates which banks use for themselves).

There's a tutorial over here.
https://forum.lowyat.net/topic/4744515

Difference is a lot over time.

I don't know what US stocks you are talking about. Malaysian banks don't let you buy or sell US stocks. You need a stock broker to do that. As far as I know all stock brokers in Malaysia charente a hefty fee for overseas stock purchased from say NYSE and Nasdaq.
*
Malaysia banks i.e CIMB/MBB can buy US/HK/IND/THAI/SG stocks minimum brokerage is USD25 or 0.30%.(correction should be 0.40%) It is high if you use to scalp or day trade. No TT fees, No monthly charges or minimum trade requirement but price quotation is not live (it's delayed). You just buy USD to trade only 1 time conversion until you withdraw in ringgit. The downside is there is 0.5% spread not at spot. I think give and take charges should be neglible depending on your trading volume and strategy. What do you think? IBKR better or local bank better? How does Malaysian fund IBKR besides using your FAST method and TT?

This post has been edited by livina2011: Oct 31 2019, 12:56 AM
TSmoosset
post Oct 31 2019, 04:33 PM

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QUOTE(livina2011 @ Oct 30 2019, 11:56 PM)
Malaysia banks i.e CIMB/MBB can buy US/HK/IND/THAI/SG stocks minimum brokerage is USD25 or 0.30%.(correction should be 0.40%) It is high if you use to scalp or day trade. No TT fees, No monthly charges or minimum trade requirement but price quotation is not live (it's delayed). You just buy USD to trade only 1 time conversion until you withdraw in ringgit. The downside is there is 0.5% spread not at spot. I think give and take charges should be neglible depending on your trading volume and strategy. What do you think? IBKR better or local bank better? How does Malaysian fund IBKR besides using your FAST method and TT?
*
still too expensive! USD25 per trade vs USD 1.50. Especially if you want to average down your price over time.

but I suppose if you only trade once per year, then M'sian banks would save you the trouble.
livina2011
post Oct 31 2019, 10:26 PM

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QUOTE(moosset @ Oct 31 2019, 04:33 PM)
still too expensive! USD25 per trade vs USD 1.50. Especially if you want to average down your price over time.

but I suppose if you only trade once per year, then M'sian banks would save you the trouble.
*
USD1.50 per trade at any amount? if let say i buy USD100K one order still USD1.50??

does IBKR combine same day order and charge USD1.50 or treat as seperate order?? i.e USD1.50 x 5 order same day??

CIMB don't combine same day order so USD25 x 5 order = USD125 brokerage (ouch!) shakehead.gif

if you trade USD6,500 on every order brokerage at 0.40% is still ok qua....i think (if below maybe not worth it)

This post has been edited by livina2011: Oct 31 2019, 10:28 PM
Ramjade
post Oct 31 2019, 11:50 PM

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QUOTE(livina2011 @ Oct 30 2019, 11:56 PM)
Malaysia banks i.e CIMB/MBB can buy US/HK/IND/THAI/SG stocks minimum brokerage is USD25 or 0.30%.(correction should be 0.40%) It is high if you use to scalp or day trade. No TT fees, No monthly charges or minimum trade requirement but price quotation is not live (it's delayed). You just buy USD to trade only 1 time conversion until you withdraw in ringgit. The downside is there is 0.5% spread not at spot. I think give and take charges should be neglible depending on your trading volume and strategy. What do you think? IBKR better or local bank better? How does Malaysian fund IBKR besides using your FAST method and TT?
*
Wow. That is bloody expensive. When you exchange RM to your foreign currency. Check again of your broker allow in house conversion or must be deposited first.

If require deposit then check and see the final amount is next how much fees.

Last I checked most Malaysian brokers charged quarterly platform fees and dividend fees.
Still not good. 0.5% vs spot rate. You haven't factor in hidden charges by your broker. The exchange you see is already hiked up behind your back. devil.gif

I will never use local brokers for foreign stocks.
IBKR wins. If you use the pure version is even cheaper at few cents per transaction.

That's the only way. TT Or go via SG route. Another way is fly to US, open a US bank account and fund it directly. Do a local transfer form US bank account into IBKR. Of course airticket and time not worth it for me when they are giving me spot rate and charge me only USD2.00/ conversion.

QUOTE(livina2011 @ Oct 31 2019, 10:26 PM)
USD1.50 per trade at any amount? if let say i buy USD100K one order still USD1.50??

does IBKR combine same day order and charge USD1.50 or treat as seperate order?? i.e USD1.50 x 5 order same day??

CIMB don't combine same day order so USD25 x 5 order = USD125 brokerage (ouch!)  shakehead.gif

if you trade USD6,500 on every order brokerage at 0.40% is still ok qua....i think (if below maybe not worth it)
*
Depends you are using tradestation global or interactive broker.
Here is tradestation price.
QUOTE
US Stocks, ETFs, ETPs and Warrants
USD 0.007 per Share
Minimum Per Order
USD 1.5


I haven't try combining but should be possible as they are pretty advanced. If you somehow can get your hands on IBKR Lite, transaction is free of charge.
livina2011
post Nov 1 2019, 07:22 AM

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US Stocks, ETFs, ETPs and Warrants
USD 0.007 per Share
Minimum Per Order
USD 1.5

@Ramjade does that means if i buy 5,000 shares of $2.00 stocks my brokerage/commission will be $35.00?? if thats the case the rate is more or less 0.35% of value. Which i think is not much difference compare to CIMB rate 0.40%
livina2011
post Nov 1 2019, 07:32 AM

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When you exchange RM to your foreign currency. Check again of your broker allow in house conversion or must be deposited first.

If require deposit then check and see the final amount is next how much fees.

@Ramjade they have their daily buy/sell rate (not at spot). Yes they allow in house conversion but your USD will sit in your account until you trade and no interest given for USD balances. No other fee only that 0.50% spread when exchange to MYR.

Ramjade
post Nov 1 2019, 08:29 AM

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QUOTE(livina2011 @ Nov 1 2019, 07:22 AM)
US Stocks, ETFs, ETPs and Warrants
USD 0.007 per Share
Minimum Per Order
USD 1.5

@Ramjade does that means if i buy 5,000 shares of $2.00 stocks my brokerage/commission will be $35.00?? if thats the case the rate is more or less 0.35% of value. Which i think is not much difference compare to CIMB rate 0.40%
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QUOTE(livina2011 @ Nov 1 2019, 07:32 AM)
When you exchange RM to your foreign currency. Check again of your broker allow in house conversion or must be deposited first.

If require deposit then check and see the final amount is next how much fees.

@Ramjade they have their daily buy/sell rate (not at spot). Yes they allow in house conversion but your USD will sit in your account until you trade and no interest given for USD balances. No other fee only that 0.50% spread when exchange to MYR.
*
Best you drop tradestation global/interactive broker a email. I don't even know how to answer your question. Scared give you wrong answer.
livina2011
post Nov 1 2019, 06:30 PM

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@Ramjade thanks will drop them an email. wink.gif
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post Nov 1 2019, 10:19 PM

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QUOTE(Ramjade @ Oct 30 2019, 06:28 PM)
Actually can use for EUR transfer for instarem. Tried and tested. USD and other currency don't know.
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alexkos

if EUR can, USD should work. This is for Tradestation global, ie IBKR UK?


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post Nov 1 2019, 10:22 PM

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QUOTE(moosset @ Nov 1 2019, 10:19 PM)
alexkos

if EUR can, USD should work. This is for Tradestation global, ie IBKR UK?
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so far i tested Tradestation global (GBP), and Captrader (EUR)

both using Instarem no prob cool2.gif
TSmoosset
post Nov 1 2019, 10:37 PM

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QUOTE(alexkos @ Nov 1 2019, 10:22 PM)
so far i tested Tradestation global (GBP), and Captrader (EUR)

both using Instarem no prob  cool2.gif
*
I'm using tradestation global now and trying to initiate a bank wire. What do you put under the Sending Institution? Instarem?
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post Nov 1 2019, 10:55 PM

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QUOTE(moosset @ Nov 1 2019, 10:37 PM)
I'm using tradestation global now and trying to initiate a bank wire. What do you put under the Sending Institution? Instarem?
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yes Instarem. try contact them for more precise wording.
livina2011
post Nov 2 2019, 09:08 AM

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after some investigations i find that trading stocks with local banks is much easier in terms of funding and other charges, your money in different jurisdiction and even commission is so much cheaper

example :
if you buy stock A 10,000 shares at $1.00 your commission in our local bank is 0.40% which equals to $10,000 × 0.40% = $40.00

but if you buy from IBKR the same as above it will cost you 10,000 shares x 0.005 cents (which is lowest commission offered by IBKR) = $50.00

however if you buy expensive stocks (which is smaller number of shares) i.e google at $1,200++ pershare, facebook at $190++ per share) with smaller number of shares then IBKR could be way cheaper. if stocks is around $1.00 range i think there won't be so much difference at all.

But bare in mind your money will be in US jurisdiction. if there's any bank run or government confiscation occurs (just an assumption) you may need to get a local lawyer to deal with US lawyer on these complicated fund repatriation problem. (which i'm not familiar with)

and also not taking account other charges which you may incur at IBKR i.e funding & withdrawal charges, maintenance and minimum requirement charges, etc....could be more idk

most importantly is your money will be in different jurisdiction and may have implication if you passed away suddenly (inheritance issue)

just look at recent 1MDB $1B of jlow funds. we need to get them from the US and it's very complicated and not easy as well.

also maybe if you are small trader or scalper i.e buying stocks in small quantity like $1,000 worth per order at one time and a few times a day then local bank may not be suitable at all because they will calculate order individually i.e buying $1,000 of stocks in 5 seperate order your commission will be hefty $25 × 5 = $125 for a $5,000 worth of stocks.

I hope anyone with personal experience can explain how would IBKR be better?? and mind you IBKR LITE which is commission free are only available to US citizen
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post Nov 2 2019, 11:32 AM

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QUOTE(livina2011 @ Nov 2 2019, 09:08 AM)
after some investigations i find that trading stocks with local banks is much easier in terms of funding and other charges, your money in different jurisdiction and even commission is so much cheaper

example :
if you buy stock A 10,000 shares at $1.00 your commission in our local bank is 0.40% which equals to $10,000 × 0.40% = $40.00

but if you buy from IBKR the same as above it will cost you 10,000 shares x 0.005 cents (which is lowest commission offered by IBKR) = $50.00

however if you buy expensive stocks (which is smaller number of shares) i.e google at $1,200++ pershare, facebook at $190++ per share) with smaller number of shares then IBKR could be way cheaper. if stocks is around $1.00 range i think there won't be so much difference at all.

But bare in mind your money will be in US jurisdiction. if there's any bank run or government confiscation occurs (just an assumption) you may need to get a local lawyer to deal with US lawyer on these complicated fund repatriation problem. (which i'm not familiar with)

and also not taking account other charges which you may incur at IBKR i.e funding & withdrawal charges, maintenance and minimum requirement charges, etc....could be more idk

most importantly is your money will be in different jurisdiction and may have implication if you passed away suddenly (inheritance issue)

just look at recent 1MDB $1B of jlow funds. we need to get them from the US and it's very complicated and not easy as well.

also maybe if you are small trader or scalper i.e buying stocks in small quantity like $1,000 worth per order at one time and a few times a day then local bank may not be suitable at all because they will calculate order individually i.e buying $1,000 of stocks in 5 seperate order your commission will be hefty $25 × 5 = $125 for a $5,000 worth of stocks.

I hope anyone with personal experience can explain how would IBKR be better?? and mind you IBKR LITE which is commission free are only available to US citizen
*
I don't know where you get 0.005.
Commission is 0.0035
https://www.interactivebrokers.com/en/index...=1590&p=stocks2
10000 X 0.0035 = USD35.00

Also as you go higher. IB still cheaper.
Eg.
100,000 x 0.0035 = USD350.
100,000 x 0.004 = USD400

Don't think just because you are in Malaysia you are safe. US have very long arm. Just last year 2-3 maybank Kim eng account were ordered to be suspended on US orders. So in this case your money is not even safe even if you are not in US. Also keep in mind US stocks

What funding charges? If fund using local currency is free. Like our IBFT. One free withdrawal in a month. After that USD25/withdrawal. Converting will be done at real time forex rates at commision of only USD2.00 How much does your broker hike up the exchange rate behind your back? You can compare with xe.com and see how much you lose out. Interactive broker price will be cheaper than XE. Already checked myself before converting.

Check again. Email them for confirmation. Last time I check Malaysian brokers want to charge me quarterly platform fees, fees for my dividends for overseas stocks.


livina2011
post Nov 2 2019, 04:01 PM

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I don't know where you get 0.005.
Commission is 0.0035
https://www.interactivebrokers.com/en/index...=1590&p=stocks2
10000 X 0.0035 = USD35.00
Answer : i found it here : https://www.interactivebrokers.com/en/index...=1590&p=stocks1


What funding charges? If fund using local currency is free. Like our IBFT. One free withdrawal in a month. After that USD25/withdrawal.
Answer : i meant local bank TT charges to IBKR (quite abit if i recall correctly)

Converting will be done at real time forex rates at commision of only USD2.00 How much does your broker hike up the exchange rate behind your back? You can compare with xe.com and see how much you lose out. Interactive broker price will be cheaper than XE. Already checked myself before converting.
Answer : yes there is exchange loss i.e a 0.50% spread. No withdarwal fee. No monthly fee.

Don't think just because you are in Malaysia you are safe. US have very long arm. Just last year 2-3 maybank Kim eng account were ordered to be suspended on US orders. So in this case your money is not even safe even if you are not in US. Also keep in mind US stocks
Check again. Email them for confirmation.
Answer : you are right abt USA. But at least you're CIMB'S customer and they have their legal department to assist you. if you deal with IB you're on your own.

Last time I check Malaysian brokers want to charge me quarterly platform fees, fees for my dividends for overseas stocks.
Answer : yes dividend handling charges is quite high



roarus
post Nov 2 2019, 06:40 PM

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QUOTE(Ramjade @ Nov 2 2019, 11:32 AM)
I don't know where you get 0.005.
Commission is 0.0035
https://www.interactivebrokers.com/en/index...=1590&p=stocks2
10000 X 0.0035 = USD35.00
*
QUOTE(livina2011 @ Nov 2 2019, 04:01 PM)
I don't know where you get 0.005.
Commission is 0.0035
https://www.interactivebrokers.com/en/index...=1590&p=stocks2
*
There are 2 pricing structure available for IBKR's customers to choose from - Tiered and Fixed. For retail investors, Tiered is cheaper most of the time. There are exceptions, so do double check though - for markets like SGX and lower amounts Fixed is cheaper.

QUOTE(livina2011 @ Nov 2 2019, 04:01 PM)
Answer : you are right abt USA. But at least you're CIMB'S customer and they have their legal department to assist you. if you deal with IB you're on your own.
*
Members of FINRA (which IBKR LLC is) are regulated in a pretty air tight manner - in an unfortunate event of a FINRA broker collapses, either:
i. another broker takes over and it's business as usual for you (e.g. Bear Stearns takeover by JP Morgan back in 2008)
ii. or SIPC is invoked to liquidate your securities and you get market value back + FDIC is invoked and you get deposited cash back

Things kick in automatically for whichever outcome

Update: Apparently tiered for SGX is cheaper now compared to a year back

This post has been edited by roarus: Nov 2 2019, 07:03 PM
livina2011
post Nov 2 2019, 08:42 PM

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saw a post here that said maybank only allow funding over the counter cos BNM blocked IB is that true at this point of time?
Ramjade
post Nov 2 2019, 08:56 PM

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QUOTE(livina2011 @ Nov 2 2019, 08:42 PM)
saw a post here that said maybank only allow funding over the counter cos BNM blocked IB is that true at this point of time?
*
There's been occasional reports here and there. If it turned up to be true not surprised.
Cause interactive broker is involve in forex. You can get spot rates from them. Since Malaysian govt is not happy if their citizen deal in forex trading, so make sense to block.
TSmoosset
post Nov 2 2019, 10:03 PM

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QUOTE(alexkos @ Nov 1 2019, 10:22 PM)
so far i tested Tradestation global (GBP), and Captrader (EUR)

both using Instarem no prob  cool2.gif
*
is there a reason that you never try USD?
alexkos
post Nov 2 2019, 10:26 PM

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I folo Ireland domiciled fund je. No prejudice to usd
TSmoosset
post Nov 2 2019, 11:44 PM

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QUOTE(alexkos @ Nov 2 2019, 10:26 PM)
I folo Ireland domiciled fund je. No prejudice to usd
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so in EUR you trust?

or in GBP you trust?
roarus
post Nov 3 2019, 12:21 AM

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QUOTE(moosset @ Nov 2 2019, 10:03 PM)
is there a reason that you never try USD?
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He tried, it failed to go through and he got his money back like 3 weeks later

QUOTE(moosset @ Nov 2 2019, 11:44 PM)
so in EUR you trust?

or in GBP you trust?
*
Once you buy securities with money - you'll be holding securities, not currency anymore. So doesn't matter which denomination you pick if it's a multi currency cross listed fund.

That is unless it's a currency hedge class fund

This post has been edited by roarus: Nov 3 2019, 12:28 AM
TSmoosset
post Nov 3 2019, 05:28 AM

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by the way, is the IBKR debit mastercard available for US??

so can withdraw money directly if you've balances in those currencies?
TSmoosset
post Nov 3 2019, 06:06 AM

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QUOTE(roarus @ Nov 3 2019, 12:21 AM)
He tried, it failed to go through and he got his money back like 3 weeks later
Once you buy securities with money - you'll be holding securities, not currency anymore. So doesn't matter which denomination you pick if it's a multi currency cross listed fund.

That is unless it's a currency hedge class fund
*
thanks! I'm not familiar with currency hedged ETF. Still need to read up.
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post Nov 3 2019, 09:51 AM

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QUOTE(moosset @ Nov 2 2019, 11:44 PM)
so in EUR you trust?

or in GBP you trust?
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In sp500 I trust.
TSmoosset
post Nov 3 2019, 11:48 AM

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QUOTE(alexkos @ Nov 3 2019, 09:51 AM)
In sp500 I trust.
*
I've looked through a few index today like TOPIX, HSI, FTSE100 and Euronext 100. Turns not nothing has returned as good as S&P500 over the last 10 years.

so invest 90% into the US stock market?
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post Nov 3 2019, 12:15 PM

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QUOTE(moosset @ Nov 3 2019, 11:48 AM)
I've looked through a few index today like TOPIX, HSI, FTSE100 and Euronext 100. Turns not nothing has returned as good as S&P500 over the last 10 years.

so invest 90% into the US stock market?
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careful yo, past result is not an indicator for future performance
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post Nov 3 2019, 01:41 PM

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QUOTE(moosset @ Nov 3 2019, 11:48 AM)

so invest 90% into the US stock market?
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Buy EWM, currently trading at 2009 recession levels n trending upwards.. 😆

This post has been edited by Cubalagi: Nov 3 2019, 01:42 PM
TSmoosset
post Nov 3 2019, 09:17 PM

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QUOTE(Cubalagi @ Nov 3 2019, 01:41 PM)
Buy EWM, currently trading at 2009 recession levels n trending upwards.. 😆
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so in M'sian stock market you trust? sad.gif

I think maybe I should move away from M'sian stock market, except 3 or 4 M'sian stocks.
Cubalagi
post Nov 4 2019, 02:38 AM

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QUOTE(moosset @ Nov 3 2019, 09:17 PM)
so in M'sian stock market you trust? sad.gif

I think maybe I should move away from M'sian stock market, except 3 or 4 M'sian stocks.
*
I don't trust any stock market.

Im especially cautious of a market that is up 24% YTD and is at record highs. What's the upside n the downside?

But yes, diversifying is always a good move.

This post has been edited by Cubalagi: Nov 4 2019, 02:38 AM
livina2011
post Nov 4 2019, 07:14 AM

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QUOTE(moosset @ Nov 3 2019, 09:17 PM)
so in M'sian stock market you trust? sad.gif

I think maybe I should move away from M'sian stock market, except 3 or 4 M'sian stocks.
*
i've been away from malaysia stocks since 2010. i have friends been making tonnes of money in the beginning.his $0.30 stocks went up to almost $2.00 but after BN loses the election things start to turn. Besides the earlier $0.30 cents stock i mentioned all stocks in his portfolio is losing money now and wiped out 2/3 of profit. he sold one particular stock losing 4-5 million ringgit just recently only. If i tell you i have anticipated these to happen (tho i don know how it will happen) but it did happen on the night of election result.(you may not believe me but i hv no incentive to lie) i'm so thankful to PH gov for clearing out these fake economy by the previous gov. It will be worse soon you ain't seen anything yet. thats why i'm in US stocks hedging against our stock market.
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post Nov 4 2019, 12:50 PM

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QUOTE(livina2011 @ Nov 4 2019, 07:14 AM)
i've been away from malaysia stocks since 2010. i have friends been making tonnes of money in the beginning.his $0.30 stocks went up to almost $2.00 but after BN loses the election things start to turn. Besides the earlier $0.30 cents stock i mentioned all stocks in his portfolio is losing money now and wiped out 2/3 of profit. he sold one particular stock losing 4-5 million ringgit just recently only. If i tell you i have anticipated these to happen (tho i don know how it will happen) but it did happen on the night of election result.(you may not believe me but i hv no incentive to lie) i'm so thankful to PH gov for clearing out these fake economy by the previous gov. It will be worse soon you ain't seen anything yet. thats why i'm in US stocks hedging against our stock market.
*
I understand.

While we are certainly moving in the right direction, I think need 10 years (at least 5 years if I'm being optimistic) for our economy to catch up. That's why I'm also trying to diversify out of M'sia. I also feel a lot of pain to move money out when RM4+++ = USD 1. sad.gif
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post Nov 4 2019, 02:15 PM

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Lol.. Friend lost money trading Malaysia.. So better trade US. Not going to lose money one.. 😆

livina2011
post Nov 4 2019, 02:42 PM

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QUOTE(Cubalagi @ Nov 4 2019, 02:15 PM)
Lol.. Friend lost money trading Malaysia.. So better trade US. Not going to lose money one.. 😆
*
make profit first then only lose 2/3 of that profit. total still profit. i din say trade US market will not lose money. fren don't misinterpret what i say lah bangwall.gif

This post has been edited by livina2011: Nov 4 2019, 02:43 PM
Cubalagi
post Nov 5 2019, 01:07 AM

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QUOTE(livina2011 @ Nov 4 2019, 02:42 PM)
make profit first then only lose 2/3 of that profit. total still profit. i din say trade US market will not lose money. fren don't misinterpret what i say lah  bangwall.gif
*
Sorry if I misinterpret you.

But I also know someone who made lots of money trading US stocks. But recently he lost USD5 billion in just one stock. Scary. Lucky he rich guy.

https://www.cnbc.com/2019/08/08/buffetts-be...investment.html

Better I stick to Bursa then.. 😆

This post has been edited by Cubalagi: Nov 5 2019, 01:21 AM
livina2011
post Nov 5 2019, 03:47 AM

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QUOTE(Cubalagi @ Nov 5 2019, 01:07 AM)
Sorry if I misinterpret you.

But I also know someone who  made lots of money trading US stocks. But recently he lost USD5 billion in just one stock. Scary. Lucky he rich guy.

https://www.cnbc.com/2019/08/08/buffetts-be...investment.html

Better I stick to Bursa then.. 😆
*
your friend is so rich. and yes you are right about US stock market based on that case. i also have a friend who is worst then your friend. he loss $4.1B in just 4 days very much faster than your friend.......lol biggrin.gif
https://www.wsj.com/articles/pg-e-trade-pun...rns-11572427806

This post has been edited by livina2011: Nov 5 2019, 03:52 AM
TSmoosset
post Nov 5 2019, 04:16 AM

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what's the difference between these 2?

why need to download both?

edit: I'm using MAC and these two links are for Windows. sad.gif

user posted image

This post has been edited by moosset: Nov 5 2019, 04:47 AM
dwRK
post Nov 5 2019, 05:51 AM

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QUOTE(moosset @ Nov 5 2019, 04:16 AM)
what's the difference between these 2?

why need to download both?

edit: I'm using MAC and these two links are for Windows. sad.gif

user posted image
*
Just use web or mobile if you investing long term and not day trading.

The two are trading softwares to do lots of charting by respective companies
TSmoosset
post Nov 5 2019, 06:58 AM

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QUOTE(dwRK @ Nov 5 2019, 05:51 AM)
Just use web or mobile if you investing long term and not day trading.

The two are trading softwares to do lots of charting by respective companies
*
so the username and password they sent me (after funding the acc) are just for this purpose?

what about analyst reports?
dwRK
post Nov 5 2019, 07:45 AM

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QUOTE(moosset @ Nov 5 2019, 06:58 AM)
#1...so the username and password they sent me (after funding the acc) are just for this purpose?

#2...what about analyst reports?
*
Don't understand #1. Don't you set your own during reg?

#2...web portal can get


This post has been edited by dwRK: Nov 5 2019, 08:24 AM
TSmoosset
post Nov 5 2019, 08:03 AM

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QUOTE(dwRK @ Nov 5 2019, 07:45 AM)
Don't understand #1. Don't you set your own during reg?

*
yes, I set my own username and password for log in.

but after funding the IBKR acc, TradeStation global will send another set of username and password in order to access those two platforms (as in the pic). I got the email telling me to download these two platforms.
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post Nov 5 2019, 08:10 AM

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QUOTE(moosset @ Nov 5 2019, 08:03 AM)
yes, I set my own username and password for log in.

but after funding the IBKR acc, TradeStation global will send another set of username and password in order to access those two platforms (as in the pic). I got the email telling me to download these two platforms.
*
go to https://interactivebrokers.com/en/home.php try login to portal and see work or not...
Ramjade
post Nov 5 2019, 10:52 AM

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QUOTE(moosset @ Nov 5 2019, 04:16 AM)
what's the difference between these 2?

why need to download both?

edit: I'm using MAC and these two links are for Windows. sad.gif

user posted image
*
After get username and password, just use IB. Forget about tradestation global already.

Program is good if you want to convert money and don't want to see the transaction appear (if you choose fxconv). Default mode idealpro (on the website and profram). You can change to fxconv only in the program.
TSmoosset
post Nov 5 2019, 12:30 PM

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QUOTE(Ramjade @ Nov 5 2019, 10:52 AM)
After get username and password, just use IB.  Forget about tradestation global already.

Program is good if you want to convert money and don't want to see the transaction appear (if you choose fxconv). Default mode idealpro (on the website and profram). You can change to fxconv only in the program.
*
meaning, download the IB platform? cannot use directly on the web browser?

if use the website, I can log in with my own username & password. Then why they give us a new set of username and password? rclxub.gif
TSmoosset
post Nov 5 2019, 12:31 PM

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QUOTE(dwRK @ Nov 5 2019, 08:10 AM)
go to https://interactivebrokers.com/en/home.php try login to portal and see work or not...
*
the portal uses our own username & password; not the one I got from the email.
Ramjade
post Nov 5 2019, 03:40 PM

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QUOTE(moosset @ Nov 5 2019, 12:30 PM)
meaning, download the IB platform? cannot use directly on the web browser?

if use the website, I can log in with my own username & password. Then why they give us a new set of username and password?  rclxub.gif
*
QUOTE(moosset @ Nov 5 2019, 12:31 PM)
the portal uses our own username & password; not the one I got from the email.
*
I just use whatever stuff they email me. I didn't edit anything. As long as can log into IB webpage, means that username and password is valid for program.

Program is optional only. Not compulsory to have.
TSmoosset
post Nov 5 2019, 06:49 PM

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QUOTE(Ramjade @ Nov 5 2019, 03:40 PM)
I just use whatever stuff they email me. I didn't edit anything. As long as can log into IB webpage, means that username and password is valid for program.

Program is optional only. Not compulsory to have.
*
Thanks!

I've also got some answers from them:

QUOTE

What's the difference between TSG and IB platform?
The difference is in the interphase, you will find that TSG is more user friendly and easier to use.


Must I download both TSG and IB platform? Can I not just perform trades online via a browser?

Yes, for TSG platform to work you will need to run TWS (IB platform) and TSG platform at the same time.
You can perform via web browser only with the TWS platform.
Also you can only use the TWS platform if you like, but as I stated before you will find that TSG platform is better.

I've clicked the link for setting up and downloading TSG and IB platform but they don't seem to be compatible with Mac OS. Do you have any suggestions?

You can download a Windows for Mac OS, this are apps that let you run windows supported applications.
Ramjade
post Nov 5 2019, 07:18 PM

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QUOTE(moosset @ Nov 5 2019, 06:49 PM)
Thanks!

I've also got some answers from them:
*
Don't use Mac. Simple lo. tongue.gif
Watch the video. Should help.
https://ibkr.info/video/2163

TSmoosset
post Nov 5 2019, 09:54 PM

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QUOTE(Ramjade @ Nov 5 2019, 07:18 PM)
Don't use Mac. Simple lo. tongue.gif
Watch the video. Should help.
https://ibkr.info/video/2163
*
my mac is the latest with Touch ID and Touch bar. Honestly, after less than 2 months owning this laptop, I started to regret already. I don't use this mac 101%, just 60 to 70% of its full capability.

should have saved the money for investment. doh.gif

I used to be more stingy, now I spend money more easily.
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post Nov 5 2019, 10:21 PM

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QUOTE(moosset @ Nov 5 2019, 06:49 PM)
Thanks!

I've also got some answers from them:
*
Hehehe... just use the web portal... quick n easy... mobile even faster...
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post Nov 5 2019, 10:51 PM

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QUOTE(moosset @ Nov 5 2019, 09:54 PM)
my mac is the latest with Touch ID and Touch bar. Honestly, after less than 2 months owning this laptop, I started to regret already. I don't use this mac 101%, just 60 to 70% of its full capability.

should have saved the money for investment.  doh.gif

I used to be more stingy, now I spend money more easily.
*
That's why I used windows only. Max I spend on laptop/PC = how much income tax releif I can get from govt.

With windows everything is free whistling.gif whistling.gif
TSmoosset
post Nov 6 2019, 12:30 AM

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I logged in, trying to trade, but it says,

QUOTE
You are trying to submit an order without having market data  for this instrument. IB strongly recommends against this ....


what market data are they talking about? The chart is in front of me.
markedestiny
post Nov 6 2019, 12:57 AM

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QUOTE(moosset @ Nov 6 2019, 12:30 AM)
I logged in, trying to trade, but it says,
what market data are they talking about? The chart is in front of me.
*
The chart is NOT realtime, but delayed. That's what they are trying to caution you. You can check the price realtime on yahoo finance to compare..
livina2011
post Nov 6 2019, 08:57 AM

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QUOTE(moosset @ Nov 6 2019, 12:30 AM)
I logged in, trying to trade, but it says,
what market data are they talking about? The chart is in front of me.
*
it could be just a standard alert to caution you. i'm pretty sure if you just go ahead and enter the order it will go through.
markedestiny
post Nov 6 2019, 09:24 AM

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QUOTE(livina2011 @ Nov 6 2019, 08:57 AM)
it could be just a standard alert to caution you. i'm pretty sure if you just go ahead and enter the order it will go through.
*
Of course it will go thru when your bid price is above the realtime price and you pay more when you could have paid lesser.

Otherwise if your bid price is below the realtime price, your bid will not be successful or it will wait until the realtime price drop to match yours.

You can subscribe and pay for the market data package iinm. For me, I just use Yahoo Finance app to check the realtime price before bidding.

Edit for clarity

This post has been edited by markedestiny: Nov 6 2019, 09:33 AM
livina2011
post Nov 6 2019, 10:17 AM

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@markedestiny

i think if market price is let say $1.00 unknowingly you key in to buy $1.20 it will be filled at $1.00 or next best seller price unless that stock is inactive or wide price gap (i.e low cap stocks)
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post Nov 6 2019, 11:08 AM

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QUOTE(markedestiny @ Nov 6 2019, 12:57 AM)
The chart is NOT realtime, but delayed. That's what they are trying to caution you. You can check the price realtime on yahoo finance to compare..
*
eh, I thought IBKR gives real time data? This service is not free? sad.gif
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post Nov 6 2019, 12:46 PM

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QUOTE(moosset @ Nov 3 2019, 09:17 PM)
so in M'sian stock market you trust? sad.gif

*
Last 5 days SPY up 1.2%, EWM up 3.18%..Malaysia boleh?.😆
TSmoosset
post Nov 6 2019, 01:21 PM

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QUOTE(Cubalagi @ Nov 6 2019, 12:46 PM)
Last 5 days SPY up 1.2%, EWM up 3.18%..Malaysia boleh?.😆
*
who leads the index?

actually, why choose MSCI instead of FBM KLCI?

and EWM is in NYSE, but no 30% WHT since it originates from M'sia?
markedestiny
post Nov 6 2019, 01:35 PM

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QUOTE(livina2011 @ Nov 6 2019, 10:17 AM)
@markedestiny

i think if market price is let say $1.00 unknowingly you key in to buy $1.20 it will be filled at $1.00 or next best seller price unless that stock is inactive or wide price gap (i.e low cap stocks)
*
I use the mobile app to bid and I usually want to enter with the price that i want, rather than buy at market price. The thing is, as I mentioned it's not realtime, the price may not swing to your advantage. Anyway I am just explaining why the message pop up and, that it's not a standard disclaimer.
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post Nov 6 2019, 02:17 PM

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QUOTE(moosset @ Nov 6 2019, 01:21 PM)
who leads the index?

actually, why choose MSCI instead of FBM KLCI?

and EWM is in NYSE, but no 30% WHT since it originates from M'sia?
*
Not sure what u mean by who leads.. But If u think about it, it's really just the opposite of how a S&P500 etf in HK/SG works. In this case, the underlying stocks are here. I think a large part of the gain is currency. MYR effect I think.

I keep an eye on EWM price lines as this is the Malaysia market from the eyes of a foreign investor. And the price chart is looking promising.

Im not sure about the WHT, but I suspect still apply cause it is a US fund.
TSmoosset
post Nov 8 2019, 06:14 AM

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QUOTE(Cubalagi @ Nov 6 2019, 02:17 PM)
Not sure what u mean by who leads.. But If u think about it, it's really just the opposite of how a S&P500 etf in HK/SG works. In this case, the underlying stocks are here. I think a large part of the gain is currency. MYR effect I think.

I keep an eye on EWM price lines as this is the Malaysia market from the eyes of a foreign investor. And the price chart is looking promising.

Im not sure about the WHT, but I suspect still apply cause it is a US fund.
*
who leads as in which stocks bring the index up. Some went up, some went down; but there are some stocks that bring the overall up. Anyway, it's not important.



**********************************************************************


Question 2: for those who use IBKR or related products, do you mostly just use the portal, web trader, Traders WorkStation (TWS) or TSG?

I'm using TWS on MAC but still quite unfamiliar. I downloaded TSG on mobile (since not available on MAC) but still not used to it.


**********************************************************************

Question 3: for those who are good at putting special orders. How do I place this order?

"Buy when the value has dropped 5%" Is this trailing BUY?
I don't want to set a fixed price, rather I want to execute BUY when there's a certain movement. How?
dwRK
post Nov 8 2019, 10:43 AM

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QUOTE(moosset @ Nov 8 2019, 06:14 AM)
Question 3: for those who are good at putting special orders. How do I place this order?

"Buy when the value has dropped 5%" Is this trailing BUY?
I don't want to set a fixed price, rather I want to execute BUY when there's a certain movement. How?
*
Ibkr has lots of training videos. Youtube also.

5% below is still a fixed price order, just means you let ibkr calc this price for you.

Trailing buy means you set the price offset above current price, it follows the price down and when price bounce back up it buys. If price just goes up instead you'll end up buying at the higher offset price. If price is volatile, it can whip up hit your buy order then crash back down... just saying

For someone new who's looking to buy 1 etf share and hasn't bought anything you sure have lots of ideas and requirements... biggrin.gif very good keep it up thumbup.gif


TSmoosset
post Nov 8 2019, 01:04 PM

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QUOTE(dwRK @ Nov 8 2019, 10:43 AM)
Ibkr has lots of training videos. Youtube also.

5% below is still a fixed price order, just means you let ibkr calc this price for you.

*
no ... not fixed price.

Say today, it's USD 100. End day is USD 97. So it has not dropped 5%; but the new baseline has gone down to USD97.
So if the next day, it drops to USD 92.15, then it will buy.

something like this... I'm not sure if I have explained it well.
livina2011
post Nov 8 2019, 01:16 PM

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QUOTE(moosset @ Nov 8 2019, 01:04 PM)
no ... not fixed price.

Say today, it's USD 100. End day is USD 97. So it has not dropped 5%; but the new baseline has gone down to USD97.
So if the next day, it drops to USD 92.15, then it will buy.

something like this... I'm not sure if I have explained it well.
*
if let say everyday down 4.90% then forever you won't get that stock....lol kidding nia

This post has been edited by livina2011: Nov 8 2019, 01:16 PM
TSmoosset
post Nov 8 2019, 01:21 PM

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QUOTE(livina2011 @ Nov 8 2019, 01:16 PM)
if let say everyday down 4.90% then forever you won't get that stock....lol kidding nia
*
it's ok... I'm waiting for that technology glitch .... tongue.gif
dwRK
post Nov 8 2019, 02:07 PM

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QUOTE(moosset @ Nov 8 2019, 01:04 PM)
no ... not fixed price.

Say today, it's USD 100. End day is USD 97. So it has not dropped 5%; but the new baseline has gone down to USD97.
So if the next day, it drops to USD 92.15, then it will buy.

something like this... I'm not sure if I have explained it well.
*
At $100 it's fixed 5% below so $95...
At $ 97 it's fixed 5% below so $92.15...

Only bots can do what you want. Alternatively you wake up and set it to 5% below yesterday's close wink.gif
dwRK
post Nov 8 2019, 02:19 PM

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QUOTE(livina2011 @ Nov 8 2019, 01:16 PM)
if let say everyday down 4.90% then forever you won't get that stock....lol kidding nia
*
Worse is everyday up 5% for months...then finally reverse 5% trigger the buy and then continue downwards spiral...lol
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post Nov 8 2019, 02:53 PM

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QUOTE(dwRK @ Nov 8 2019, 02:19 PM)
Worse is everyday up 5% for months...then finally reverse 5% trigger the buy and then continue downwards spiral...lol
*
That's the reason why I just stick to the Limit Order to buy at the price I want rather than encounter such situation..no need the extra complication unless you really know what you are doing with the various type of order.
TSmoosset
post Nov 9 2019, 05:01 AM

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there's a new product called TSGo. What do you think?

https://www.investopedia.com/tradestation-l...ffering-4772218

https://www.tradestation.com/promo/tsgo/
dwRK
post Nov 9 2019, 07:37 AM

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QUOTE(moosset @ Nov 9 2019, 05:01 AM)
AFAIK only US market
zenjiazenjia
post Nov 9 2019, 09:52 AM

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QUOTE(Ramjade @ Oct 30 2019, 09:16 PM)
withdraw - IBKR (convert SGD) -> IBKR(SGD) -> SG CIMB FastSaver(SGD) ->  MY CIMB (MYR)To find out more
- this one rates not bad.
- alternative can use transferwise to bring money back. Usually my money is one way. I never bring any money back. No point lose money converting back to RM.
*
Bro, for transfer fund from SG CIMB FastSaver(SGD) to IBKR(SGD), do able to use FAST transfer or have to use TT?
When i try create a deposit request in IBKR, only can select Bank Wire Deposit, does it mean TT?
TSmoosset
post Nov 9 2019, 10:31 AM

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can confirm.

InstaRem can transfer to IBKR in EUR.

I did transfer in USD, earlier than in EUR but still pending. Maybe it won't get through.
Ramjade
post Nov 9 2019, 11:55 AM

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QUOTE(zenjiazenjia @ Nov 9 2019, 09:52 AM)
Bro, for transfer fund from SG CIMB FastSaver(SGD) to IBKR(SGD), do able to use FAST transfer or have to use TT?
When i try create a deposit request in IBKR, only can select Bank Wire Deposit, does it mean TT?
*
Yes select wire. That will create a notification to IB that a certain xxxxx amount is coming in from CIMB Bank.

After that just transfer the sane amount xxxxx that you input into IB via Cimb FAST.

This post has been edited by Ramjade: Nov 9 2019, 03:20 PM
TSmoosset
post Nov 10 2019, 10:53 AM

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Am I seeing this wrongly?

it costs 0.12% for EU trades? That's quite expensive if you buy/sell €2k per trade, no?

This post has been edited by moosset: Nov 10 2019, 11:09 AM
TSmoosset
post Nov 13 2019, 07:12 AM

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QUOTE(Ramjade @ Oct 9 2019, 07:10 AM)
I don't know where are you getting USD5 and USD10. Tradestation only charge you min USD1.50
https://www.tradestation-international.com/...ng-commissions/


*
Using this link, but I think my fees are charged differently.

I bought BABA, was charged USD 1 commission. I thought min is USD 1.50??

also bought 2 German ETF in IBIS. The cost was 0.12% or min RM 1.80 + EUR 0.60.
EUR 0.60 is the correct exchange fee; but I didn't reach the min RM 1.80. How come?? rclxub.gif rclxub.gif
TSmoosset
post Nov 18 2019, 03:06 PM

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Regarding BABA IPO, I've asked IBKR and here's the reply:

Please note, IBKR generally does not offer clients the ability to participate in an IPO (Initial Public Offering) of a US company. IBKR may offer the ability for clients to participate in IPOs outside of the US. The IPO subscription page is only available for eligible customers participating in certain Chinese and Hong Kong IPOs. At this time there are no plans to make it available for other markets. You can trade those securities through IBKR once they are listed in the secondary markets.

Also, please note that when the IPO is announced and if your account is eligible for it, you will see it in the IPO subscriptions page in Client Portal. By clicking on the relevant options, it will show you the requirements for participating in the IPO and further guidelines and procedures. In case, if you don't see any IPOs within the Account management, it means that the feature is not yet made available to your account based on the region/ account type, etc.


This post has been edited by moosset: Nov 18 2019, 03:07 PM
Ramjade
post Nov 19 2019, 10:50 AM

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QUOTE(moosset @ Nov 18 2019, 03:06 PM)
Regarding BABA IPO, I've asked IBKR and here's the reply:

Please note, IBKR generally does not offer clients the ability to participate in an IPO (Initial Public Offering) of a US company. IBKR may offer the ability for clients to participate in IPOs outside of the US. The IPO subscription page is only available for eligible customers participating in certain Chinese and Hong Kong IPOs. At this time there are no plans to make it available for other markets. You can trade those securities through IBKR once they are listed in the secondary markets.

Also, please note that when the IPO is announced and if your account is eligible for it, you will see it in the IPO subscriptions page in Client Portal. By clicking on the relevant options, it will show you the requirements for participating in the IPO and further guidelines and procedures. In case, if you don't see any IPOs within the Account management, it means that the feature is not yet made available to your account based on the region/ account type, etc.

*
QUOTE(andreyi1979 @ Nov 19 2019, 01:23 AM)
Very good Infos. tks
*
Would like to add those who opened IBKR with Whitelabels, IBKR won't do IPO for you. You will need to go back to the original whitelabels you opened with and ask how to proceed.
nbafans99
post Nov 19 2019, 01:21 PM

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Just went through TradeStation Global account application.

Two questions that would need clarification:-
1. May I know if we need to wait until approved status then only can perform funding?
user posted image

2. What're the options to fund the TSG account? Let say primarily to invest in NYSE. From thread reading here, seems like Instarem is the lowest cost choice ?
user posted image

This post has been edited by nbafans99: Nov 19 2019, 01:40 PM
Ramjade
post Nov 19 2019, 02:01 PM

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QUOTE(nbafans99 @ Nov 19 2019, 01:21 PM)
Just went through TradeStation Global account application.

Two questions that would need clarification:-
1. May I know if we need to wait until approved status then only can perform funding?
user posted image

2. What're the options to fund the TSG account? Let say primarily to invest in NYSE. From thread reading here, seems like Instarem is the lowest cost choice ?
user posted image
*
1. You need to fund it then only your account will be approved. Amount to fund = USD5k or equivalent in other currency.
QUOTE
instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD/HKD)


2. Yes instarem is the cheapest but you cannot fund it in USD. So far only Eur works.
I use

Of course if you want to give free money to your banks by doing TT, it will also work. Expect a cut of about 3-5% that the bank will take. Free money for the banks. tongue.gif
TSmoosset
post Nov 19 2019, 08:07 PM

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QUOTE(Ramjade @ Nov 19 2019, 02:01 PM)
1. You need to fund it then only your account will be approved. Amount to fund = USD5k or equivalent in other currency.
2. Yes instarem is the cheapest but you cannot fund it in USD. So far only Eur works.
I use

Of course if you want to give free money to your banks by doing TT, it will also work. Expect a cut of about 3-5% that the bank will take. Free money for the banks.  tongue.gif
*
I haven't tried with SGD, but InstaRem MYR > HKD > IBKR works!
nbafans99
post Nov 21 2019, 12:25 AM

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QUOTE(Ramjade @ Nov 19 2019, 02:01 PM)
1. You need to fund it then only your account will be approved. Amount to fund = USD5k or equivalent in other currency.
2. Yes instarem is the cheapest but you cannot fund it in USD. So far only Eur works.

Of course if you want to give free money to your banks by doing TT, it will also work. Expect a cut of about 3-5% that the bank will take. Free money for the banks.  tongue.gif
*
user posted image
For TSG, the minimum would be USD 1,000 right? Just to double confirm so no need transfer multiple times biggrin.gif


QUOTE
instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD/HKD)
user posted image
user posted image

Because it's first time using instarem here, do you mind to help me review some of the input here? Especially on the
SWIFT code = CIBBSGSGXXX,
payment method = FPX and
the transaction fee of RM 22.50 (Is this fixed for every single transfer?)

Next screen would prompt me to login bank FPX page?
nbafans99
post Nov 21 2019, 12:31 AM

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QUOTE(moosset @ Nov 19 2019, 08:07 PM)
I haven't tried with SGD, but InstaRem MYR > HKD > IBKR works!
*
By going through HKD means we need to open a HKD account somewhere ? Sorry, newbie here. notworthy.gif
TSmoosset
post Nov 21 2019, 10:05 AM

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QUOTE(nbafans99 @ Nov 21 2019, 12:31 AM)
By going through HKD means we need to open a HKD account somewhere ? Sorry, newbie here. notworthy.gif
*
no ...

use instaRem, MYR > HKD. IBKR accepts HKD.
Ramjade
post Nov 21 2019, 10:13 AM

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QUOTE(moosset @ Nov 21 2019, 10:05 AM)
no ...

use instaRem, MYR > HKD. IBKR accepts HKD.
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Care to share the sender bank for Instarem for HKD?
TSmoosset
post Nov 21 2019, 10:32 AM

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QUOTE(Ramjade @ Nov 21 2019, 10:13 AM)
Care to share the sender bank for Instarem for HKD?
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sender institution?? I wrote InstaRem. The same way I did for EUR.

I know it feels weird. I thought it had to be a bank's name.
Anyway, I still don't understand why IBKR can't accept USD from InstaRem. I tried to ask InstaRem the sending institution, they said OCBC (the same bank that accepts MYR). I was like, WTF?? That's not how FinTech works! There must be local bank in US that remits USD to IBKR.
He/she said no. It's OCBC (MY) that sends money to the US! doh.gif

Maybe I have saved the chat log somewhere. If I can find it, I'll post it.
Ramjade
post Nov 21 2019, 10:49 AM

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QUOTE(moosset @ Nov 21 2019, 10:32 AM)
sender institution?? I wrote InstaRem. The same way I did for EUR.

I know it feels weird. I thought it had to be a bank's name.
Anyway, I still don't understand why IBKR can't accept USD from InstaRem. I tried to ask InstaRem the sending institution, they said OCBC (the same bank that accepts MYR). I was like, WTF?? That's not how FinTech works! There must be local bank in US that remits USD to IBKR.
He/she said no. It's OCBC (MY) that sends money to the US!  doh.gif

Maybe I have saved the chat log somewhere. If I can find it, I'll post it.
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In the interactive broker page, there's a colum for you to fill up senders bank. You wrote sender bank ad instsrem on interactive broker?
TSmoosset
post Nov 21 2019, 11:16 AM

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QUOTE(Ramjade @ Nov 21 2019, 10:49 AM)
In the interactive broker page, there's a colum for you to fill up senders bank. You wrote sender bank ad instsrem on interactive broker?
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Yes exactly! That's what I did. It works for EUR and HKD but not USD.
matjalz
post Nov 21 2019, 02:55 PM

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QUOTE(Ramjade @ Nov 19 2019, 02:01 PM)
1. You need to fund it then only your account will be approved. Amount to fund = USD5k or equivalent in other currency.
2. Yes instarem is the cheapest but you cannot fund it in USD. So far only Eur works.
I use

Of course if you want to give free money to your banks by doing TT, it will also work. Expect a cut of about 3-5% that the bank will take. Free money for the banks.  tongue.gif
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Need to fund for acc to be approved? I thought it is 0$ minimum deposit.
TSmoosset
post Nov 21 2019, 03:23 PM

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QUOTE(matjalz @ Nov 21 2019, 02:55 PM)
Need to fund for acc to be approved? I thought it is 0$ minimum deposit.
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the acc is approved but to activate it, you need to fund it with 1k USD (tradestation global).

I'm not sure about IBKR.
nbafans99
post Nov 22 2019, 08:36 PM

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QUOTE(moosset @ Nov 21 2019, 03:23 PM)
the acc is approved but to activate it, you need to fund it with 1k USD (tradestation global).

I'm not sure about IBKR.
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user posted image
user posted image

Because it's first time using instarem here, do you mind to help me review some of the input here? Especially on the
SWIFT code = CIBBSGSGXXX,
payment method = FPX and
the transaction fee of RM 22.50 (Is this fixed for every single transfer?)

Next screen would prompt me to login bank FPX page?
nbafans99
post Nov 22 2019, 08:39 PM

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QUOTE
instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD)
QUOTE(moosset @ Nov 21 2019, 10:05 AM)
use instaRem, MYR > HKD. IBKR accepts HKD
Which one do you think is better if eventually I want to invest in US stocks?

This post has been edited by nbafans99: Nov 22 2019, 08:39 PM
TSmoosset
post Nov 22 2019, 09:21 PM

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QUOTE(nbafans99 @ Nov 22 2019, 08:36 PM)
user posted image
user posted image

Because it's first time using instarem here, do you mind to help me review some of the input here? Especially on the
SWIFT code = CIBBSGSGXXX,
payment method = FPX and
the transaction fee of RM 22.50 (Is this fixed for every single transfer?)

Next screen would prompt me to login bank FPX page?
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I think it's correct, as long as you follow all the details provided by IBKR and add your reference in the note.

yeah, next page is FPX.

QUOTE(nbafans99 @ Nov 22 2019, 08:39 PM)
Which one do you think is better if eventually I want to invest in US stocks?
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doesn't matter, really.
Ramjade
post Nov 22 2019, 09:36 PM

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QUOTE(nbafans99 @ Nov 22 2019, 08:39 PM)
Which one do you think is better if eventually I want to invest in US stocks?
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Doesn't matter as you still need to pay USD2.00 for USD conversion since they don't accept USD from instsrem.
nbafans99
post Nov 22 2019, 10:15 PM

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QUOTE(moosset @ Nov 22 2019, 09:21 PM)
I think it's correct, as long as you follow all the details provided by IBKR and add your reference in the note.

yeah, next page is FPX.
doesn't matter, really.
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The above is actually to send money from instaren to my CIMB SGD account.
QUOTE
instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert SGD to USD)


You mean we can direct use this way?
QUOTE
instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (HKD) -> IBKR (convert HKD to USD)


If yes, I suppose it's easier and cheaper? Since there is one less leg to transfer from CIMB to IBKR? Sorry for the on-going questions. notworthy.gif am trying to learn from sifu here.

This post has been edited by nbafans99: Nov 22 2019, 10:16 PM
dwRK
post Nov 22 2019, 10:21 PM

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QUOTE(nbafans99 @ Nov 22 2019, 10:15 PM)

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Instarem (myr->hkd) -> ibkr (hkd->usd)
TSmoosset
post Nov 22 2019, 10:21 PM

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QUOTE(nbafans99 @ Nov 22 2019, 10:15 PM)
The above is actually to send money from instaren to my CIMB SGD account.
You mean we can direct use this way?
If yes, I suppose it's easier and cheaper? Since there is one less leg to transfer from CIMB to IBKR? Sorry for the on-going questions.  notworthy.gif am trying to learn from sifu here.
*
yes. Using InstaRem, MYR > HKD.

It's easier as it's one step shorter, but same price.
DiamondRuby
post Nov 29 2019, 09:09 AM

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Hello All sifu,

I am planing to open an IB account.. I'm from malaysia.
My target is to fund around usd 3k for 1st & topup to max usd10k.

I need advice as following.
1) I saw there's a lot of comment on the past forum.. May I know in present, which is the chepaest way to fund into IB account.
2) I'm holding some usd notes with me, can I fund directly to IB via any bank or agent?
3) I saw comment, inactive account in IB charges usd10/mth.. Inactive means no transaction at all or there's minimum transaction to avoid this cost?
4) what's the cheapest way to get back money from IB in MYR?


Regards
William