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

Sifu,
I just try your advice, CIMB@SG require to deposit Initial SGD1000 to new account as activation.

Before, I activate it, I Still dont get the point of Saving:-

1) If transfer from CIMB@My -> CIMB@SG, We still suffer the loss from Xrate(MYR-To-SGD) right?

Thanks Sifu,
I think, first SGD1k have to grant to CIMB.
For long run, I will use Instarem

BTW, From CIMB@SGD to Interactive broker. How long leadtime the amount will appear?

Thanks. Sifu..I will follow your advice doing it..
Happy investment..

To all senior Thanks for the reply.. I will follow your advice doing it..

Another question..
Actually I'm investing in commodity as Future Option seller selling contract...

Anyone is investing in this area? I would like to hear from you.. Dis/adv..

Hello, Sifu, Ramjade & Mosset,

Can you show few screenshot, how to convert from SDG to USD,
Under forex change? I need some clue how to do it.

Thanks,

OK, I just try it via paper.. Is done now..

To all Sifu,

Whats the different between FXCONV vs IDEALPRO ??
Both also same rate, & appear same amount to account

Let's learn together.. We're team, we got the same objective & aims..

OBJ= GO TO ROB 'GUI LOU' MONEY...

Hello, All Sifu,

Just a fast Question,
1) I did transfer to my CIMB@SG for 1st SGD1k. - Done.
2) CIMB@SG will send me an activation code for CIMB@SG click?
3) After that,how to perform Transaction to IBKR? using Money transfer function?

Thanks..

Actually I'm stuck on step 3.
I only can see my CIMB(SG) account via CIMB@MY website..
I don't have CIMB@SG = my question is how to activate CIMB@SG?
In CIMB@MY not able to do transfer. Thats why I ask this question..

Thanks again.. Now I'm clear..

Hello all,

I saw weakening of USD giving us some advantages to exchange now.

Any sifu here, any idea how to take this opportunity to do maximum gain?

My situation is I'm having SGD now at IBKR Acc. Any idea how to trade max to get USD. I'm not in hurry to get USD..

Does forex trding got future contract selling option?

Hello All Sifu,

Any member here trade Option.

I got a question in IBKR system,
I use Iron Condor to capture my profit & it is going to expiry next week.

Usually, Do you close/sell the Iron Condor before expiry date even is OTM status?
What's the difference between Sell Vs Close, IBKR need another round of commission charges?

As stated in IBRK, FOP last trading 28Jan, underlying FUT 26Feb.

I dont understand this statement, I meant, 28Jan is the last amendment/close of contract? Whats underlying meaning here?

Regards,
RubyDiamond, Beginner to Option.

No idea?
No reply

Hello, Sifu

Need some advice on the margin requirement@IBKR.

As I saw, if I send money to IBKR(in SGD) I dont convert to USD.
Rephase: Means, I keep my cash in SGD, but trade with the (visual) amount in USD, (the column in Total in USD)

I compare against buying power & the Inital margin also not much changes(Total in USD).

Hence, Why we want to convert ? Keep SGD also good mah, can save X-rate commision fees ...

please advice if IBKR occurs hidden charges, if I trade with SGD?

This post has been edited by DiamondRuby: Feb 5 2020, 03:28 PM

Thanks for feedback,

when you buy usd denominated products, ibkr will create a usd loan for you...you will pay interests on it
I saw at my account management page, I believe you;re refer to MTD- interest & it shows USD$-2..
(@Pls help to verify its MTD interest)


if sgd drops in value, your available margin may become insufficient especially if you try to max out buying power, and you have to top up asap... if your assets drop in value as well, way below maintenance margin...ibkr will liquidate some of your positions
I already kena, yesterday, The system automatically sell stock at my portfolio, Stock w/o asking me...
(after the yellow trigger)
Lucikly not heavy damage. my portfolio is doing at that time.

only reason to keep sgd whilst trading usd... sgd strengthening against usd and you are good short term trader...quick contra profit can pay off interest
I agree with you, since corona virus, USD-bullish, If I change X-rate to USD from SGD now.. Rugi like hell...
Wait for a while might have better rate,.. I wish...

Anyone hold USD from previous, Now is good time to Cash to SGD

This post has been edited by DiamondRuby: Feb 6 2020, 12:01 PM