So for your step 6, CIMB SG you used transferwise to get the money there or you used CIMB's own internal transfer (and their exchange rate)?

market order buy 100 units...

if got 1000 units for sale at 5.88... you get 100 * 5.88
if got 10 units for sale at 5.88, next is 1000 units at 6.5... you get 10 * 5.88 + 90 * 6.5...

you need to understand orderbook/depth of market or DOM, and market order, and liquidity...

low liquidity stocks you can easily over pay with market order just because timing...

your example is system giving you an estimate because market not yet open

The new IBKR-Wise Integration is really nice, simplifying many of the steps to perform the funding via this integration.
Bear in mind though the fees paid to Wise via IBKR-Wise Balance Transfer seem to be slightly higher compared to the typical ACH Direct Deposits.

I suspect the differences are coming from the 5.5% commission that IBKR takes from Wise on the fees collected (not on the capital) for every successful transfer - exchange rate seems to be the same during my testing with two sets of RM4000 (done within millisecond difference in terms of transfer timing)

The differing amount is neglectable with approx. ~30 cents USD in extra fees.
(for those interested in screenshots etc, I've just updated my blog with the details Wise Multi-Currency Account & Card for Malaysians)

Anyone tried transferring USD from Wise USD Amount to IBKR using the new linked Wise account feature?

I noticed that although the fees shown in IBKR when initiating the transfer is 0.39 USD, the fees shown in the Wise portal is 6.44 USD instead.
Details in spoiler.



Not sure if this is a bug, or it will indeed cost more to transfer this way.
I did not proceed with the transaction and cancelled it when it prompted for password.

Hope someone who did complete the transfer this way will be able to shed some light on the fees.

Oddly, took a day for me cause using cheapest transfer. No difference.

Also oddly, suddenly the ibkr compliance team asked for details after I used the wise ibkr integration.

Gave the info they need but have not revert back to me yet.

👀🍿🍷🤔

Hi. I recently received an email from IBKR Client Services mentioning that I can view a annual Aggregated Cost and Charges statement. Just click on Performance & Reports>Statements>Aggregated Cost and Charges.
But I can't see this statement on my portal. Anyone here have the same problem as me?
IBKR said they are required to provide this statement at least annually.

IBKR is now trying to act like a market maker...

Not exactly first day or last day. I tend to sell one to two days before ex-date for BIL and buy on the ex-date or one day after it. You may refer to BIL ETF's distribution schedule here: https://www.ssga.com/library-content/produc...on_Schedule.pdf

and mark down the dates on your calendar (take note ex-date for December is unusual as it's in the middle of the month, plus no distributions/ex-date(s) in January).

I notice there are some nuances in buying/selling BIL ETF. Usually there is an uptick in the ETF price (i.e., premium over NAV) TWO days before ex-date rather than ONE day before ex-date. (Tail risk management?) And in occasions like US debt ceiling crisis, "smart money" usually trade even earlier. In any case, I look at my IRR, if the number moves up by several more basis points than the usually daily movements and it's very close to ex-date then I will follow "smart money".

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Actually, if you think through, there's "economies of scale" in choosing to buy+sell around ex-date vs hold and let Uncle Sam tax 30% out of the distributions.

The reason is simple: WHT is 30% of distributions, which is dependent on how many units of BIL ETF you hold. However, brokerage fees for buy+sell is (almost) fixed at 0.35-0.45 USD per trade regardless of how many BIL units you hold (assuming you don't trade often with other counters).

I did some dirty calculations last year. You can have fun playing with this Excel file. I used previous distributions and compare the opportunity costs of either holding (no trade on ex-date) vs trading on ex-date.

For several thousand USDs the savings are probably to the tune of few cents, but for those with thousands of BIL units, the savings start to run into 1 to 2 order of magnitudes in USD. Also, one should take into consideration of time value of money. The distributions of BIL are paid not on ex-date but about 5 days later whereas buy+sell means money gets "reinvested" within 1-3 days. Minuscule savings I know...

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In another news, ASNB/PNB has sent me the full list of investment for ASM1. See if you can find any counters that interest you here: https://forum.lowyat.net/index.php?showtopi...ost&p=107438507

I think it will get deducted and refunded later. My US Treasuries Dividend got deducted (30% WHT) and I got it back later.

Sorry, can you elaborate further? The link you have provided doesn't seem to cover this particular case (Foreign investor receiving dividends from a US domiciled ETF that holds government bonds)

It is applicable to taxable once it is traded on the exchange 🤦‍♀️ only fixed income which are treasuries paper are not taxable like UST bills

Now that Wise can be linked to IBKR, the money transfer is immediate right? It shows up in your IB account on the same day?

I assume you mean LHDN/IRB's income tax return filing.

In this case, unless you BRING BACK the dividends and interests of your stocks/bonds/foreign FDs etc., otherwise you do not need to declare anything (even for the non-taxable part).

If you opt to bring back/remit back the dividends in to your local bank accounts, then starting from this year, you need to declare the dividends/interests received in part K of your BE form.

YA 2022 BE-form link: https://www.hasil.gov.my/media/gf1dooov/form_be2022_2.pdf

YA 2022 BE-form explanatory notes: https://www.hasil.gov.my/media/jici2heu/exp...es_be2022_2.pdf

In any case, it's only "current income" portion of your total investment returns that matter (e.g. dividends, interests, bond coupons etc.), the "capital gain" (stock/bond price appreciation) part is non-taxable and need not be declared, even if brought back to Malaysia.

hello everyone, newbie here.

I have an IBKR account. I usually deposit USD using Wise after i convert them from myr.

My question is, let's say i wan to trade sg stocks, can i deposit sgd into IBKR and trade using sgd?

Or do I need to deposit USD as usual, and upon trading sg stocks, IB will auto convert USD to sgd?

thankssss

Hey guys just want to ask how you guys buy shares if IBKR does not provide real-time data in the stock market?

You can make use of the snapshots. IBKR gives free USD1 worth of snapshots each month. That's about 100 free snapshots for equities.



I'm not too sure on which subscription is applicable for Equities only but my guess is it's the same as mine.

Hi all, I am new to investing, if I want to dca cspx through ibkr monthly RM 500. Is it a right strategy?

Will I ended up paying too much on the platform and brokerage fees etc? Thank you