Question; if i want to DCA LSE etfs, for next 5 years, 1k usd each month. Is it advisable yo go pure IBKR instead of whitelabel/saxo/scb?
How trustworthy is TSG?
Interactive Brokers (IBKR), IBKR users, welcome!
Interactive Brokers (IBKR), IBKR users, welcome!
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Mar 2 2020, 12:15 AM
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#1
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Senior Member
1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
Question; if i want to DCA LSE etfs, for next 5 years, 1k usd each month. Is it advisable yo go pure IBKR instead of whitelabel/saxo/scb?
How trustworthy is TSG? |
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Mar 2 2020, 10:08 AM
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#2
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Senior Member
1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(moosset @ Mar 2 2020, 12:19 AM) whitelabel, TSG, Captrader etc are just resale agent, so it's not much difference, just that if directly via IBKR, it has a min transaction fee per month. VUSA/VUSD/CSPX - either one.what LSE ETFs are you looking at? QUOTE(Ramjade @ Mar 2 2020, 07:05 AM) Markup exchange rate, additional fees. Price is 3%+ Not 1% for banks. Okay...but given the scenario if in the next 7 years for every month i put in 1k, and stocks grow, and value is worth over 100k, advisable to stay with whitelabels instead of IBKR because (just troublesome shifting stocks around).Whitelabels. If you have USD100K then pure IBKR. Avoid Saxo at all cost. Even with whitelabels you still deal with interactive broker for everything. Depositing money, buying, selling, customer service all via interactive broker. You don't even deal with Whitelabels apart from opening account. I hope the whitelabels are trustworthy/secure enough to hold 50k usd or something moving forward or even 100k. lol. |
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Mar 2 2020, 10:23 AM
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#3
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(Yggdrasil @ Mar 2 2020, 10:10 AM) I will move if I were you. Of course, I'll only move if my balance is reasonably above $100k because stocks may fall and the balance may fall below $100k again. But TBH, the difference is not much. I could be wrong in this as I have not use Tradestation nor IBKR before, just based on readings.The main reason to move is the cheap margin. https://www.stockbrokers.com/compare/intera...vs-tradestation |
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Mar 4 2020, 09:40 AM
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#4
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(Yggdrasil @ Mar 3 2020, 08:27 PM) Just activated margin on IBKR (Tradestation Global). You mean you are using TSG account right? lol i got confused.From IBKR's website, it says that interest is accrued daily. Meanwhile, Tradestation Global says their margin rates is what IBKR quotes +2.5%. Haven't bought anything on margin yet but earlier I tried to place an order for EQQQ.MI in EUR when I only had SGD and USD, the order was placed (I cancelled before it was matched). Will report back when I'm ready to use margin |
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Mar 4 2020, 02:42 PM
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#5
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
Question on TSG account opening; the base currency is USD or SGD? If i want to buy LSE's ETF.
And is it possible to transfer money directly from a sg account to TSG account? |
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Mar 4 2020, 06:39 PM
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#6
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(Ramjade @ Mar 4 2020, 04:22 PM) You can always change your base currency USD, then is it better i set it as base USD but if i transfer money in, is it better to use SGD for spot rates xfer or USD using multi currency account? Or no difference?Depends on the ETF what currency is it listed as? Yes. Been doing that for ages. QUOTE(moosset @ Mar 4 2020, 06:24 PM) it's up to you. You choose when you open the account. You can also change it anytime. Sorry, how do i transfer money to my TSG account? Do i choose their option of bank wire (is it more expensive) or any other methods? As i chose SGD as base, they gave me only two choices while if i put USD as base, theres more choices.SG acc definitely no problem lah... internationally traded currency. |
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Mar 4 2020, 08:25 PM
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(moosset @ Mar 4 2020, 06:56 PM) deposit in SGD, then exchange to USD on the platform. Huge difference, huge savings! Don't let your bank do the conversion. there's nothing to choose! (I think you need to try logging in and play around and see what is available) You need to go to the web platform, log in and initiate a transfer. This is just to tell them that you WILL do a bank transfer, but you haven't started yet. All the transfer details will be provided. using these details, log in to your SG internet banking and perform a local FAST transfer. As for the currency, you can transfer whatever currency available there, regardless of your base currency. If your base is USD, you can transfer in GBP, SGD, or whatever. It will store in your account until the day you decide to convert. QUOTE(Yggdrasil @ Mar 4 2020, 08:13 PM) USD has more regulatory barriers. From my experience, CIMB SG does not allow transfers to IBKR/TSG. Meaning if you transfer MYR to USD via Instarem to your CIMB SG Savings Account (USD), you cannot transfer out to IBKR/TSG and can only transfer to other CIMB SG Savings Account (USD). Thanks both! Coz it gave me options to transfer in money when i click on deposit money link in the platform.First, tell IBKR that you will be transferring funds from your bank. Letting them know the Swift code of the bank and the amount. Swift code should be CIMB SG's. You can get the swift code online. Just Google it. They will give you IBKR's account number and instructions. Something like this: ![]() When you make the SGD transfer, copy the Payment Reference and put it in your transfer details. |
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Mar 5 2020, 04:26 PM
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#8
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(moosset @ Mar 4 2020, 08:28 PM) the options are just (a) what currency you want to deposit, (b) ways you could use to transfer (for some currencies, only 1 way). Okay thanks!IBKR doesn't take money automatically from you; they are just letting you know. Planning to build a bogleheads 3 fund portfolio, if not just VWRA/IWDA. Has anyone been able to find out VWRA vs IWDA; which performs better? IWDA? and its lower in costs. |
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Mar 6 2020, 02:34 PM
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#9
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
I tried creating an account with IBKR, it led me to .au website.
Submitted my documents to verify, both rejected without email to notify reasons. I am trying one more time now. Anybody has any ideas on this? Nobody called me to say anything. |
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Mar 6 2020, 10:56 PM
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#10
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(Yggdrasil @ Mar 6 2020, 07:03 PM) .au is the correct website. I know why..coz i put my address in Singapore, they say cannot. Must put malaysian address.If you want to create TSG, make sure you register through TSG before it redirects to IBKR. What did you send them? You need passport (identity), IC (address) and payslip (if you put fund using salary). |
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Mar 8 2020, 10:27 AM
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#11
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
I vividly mb the Javier fella telling me that he recommend another platform that has cheaper fees than tsg but can only trade US stocks. I decline so i guess i will resubmit application with all msian docs
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Mar 10 2020, 11:26 AM
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#12
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
Im actually working in Singapore, only afraid that if i solely put Malaysian details without telling them that I am currently staying/working in Singapore, complications might arise - therefore i went pure IBKR.
Thing is: even if i put everything in Malaysia and sg work details, they questioned me on it and the reason why i put work/place of stay is in Sg - never got approve. So guess the only way is either you lie saying everything is in Malaysia or just pure iBKR. |
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Mar 10 2020, 03:54 PM
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#13
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
QUOTE(Ramjade @ Mar 10 2020, 02:26 PM) Aiyoo. Put la work in Singapore. Address put la Malaysia. Put according to your IC/bill. Yup i did - they didnt approve it. They ask me to give reasons saying why put work in Singapore. After which, they didnt approve it. I am not sure if its stricter or what. lolAlternatively use Captrader. They don't mind if you stay in Singapore. Also, even if they did approve, I am unsure what are the consequences of me not declaring initially tax numbers in Singapore as only put Malaysia's. (i tried putting Sg taxes number too, they say anything with Singapore in it, wont approve). So technically, its either you lie everything that you are in Malaysia, stays in Malaysia, works in Malaysia vs saying the truth. Captrader is another option but thinking down the road to DCA, breakeven in 10 years +- reach USD 100k. This post has been edited by GloryKnight: Mar 10 2020, 04:05 PM |
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Mar 11 2020, 03:33 PM
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
Cheaper trades for sgx, presumably.
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Aug 31 2020, 12:39 PM
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#15
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
Anyone knows if IBKR Mobile app allows us to subscribe to IPOs? thanks!
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Dec 11 2020, 10:27 PM
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#16
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1,770 posts Joined: Dec 2010 From: ~Where White Knights in Shining Armour Unite~ |
Anybody having trouble executing trades in ibkr pro app now?
My trades are not executed. Wth |
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