Hi sifus here, Ikan bills here wanna ask if use whitelabel (Tradestation global) , do I trade on the tws platform itself? Also wanna ask if in the future can I switch to pure IBKR when reach 100k equity to avoid the account monthly fee?

I saw some of you guys talking about transferring CIMBMY to CIMBSG, are you guys talking about this promo? If it is the zero service fees permanent ah?

https://www.cimbbank.com.sg/en/personal/new...sfer-promo.html

Now I contemplating if I should use the method above or just buka MBB SG acc and then instarem SGD over since I’m an existing MBB user

Ouh, missed that😅 if normally without promo, how much is the remittance fee?

Wanna ask sifus here if the BigPay -> MaybankSG -> IBKR Citibank still boleh jalan? I just now did a request for wire and the bank listed was Citibank NA. Can still use the FAST transfer route?

Stupid me, clumsy mistake forgot to select SGD

Hi all Sifus! Initially I wanted to use the method of Maybank -> Maybank SG -> IBKR method but as a student they rejected my application for the Maybank SG acc. May I know if there are any other methods besides TT?

I was thinking of using Transferwise. IBKR says that they support TW but I think it's better to ask sifus here if any has experience with doing so. And if Transferwise can jalan, should I send SGD and convert USD in IBKR or just send straight USD and save the $2 commission?

Yup I'm not worried about bringing money back. Don't plan to anyways. But I thought the method everyone use is Bigpay to SG bank acc, then FAST to IBKR? Or I got sth wrong oops
Yep went to Menara Maybank, I said that it was to store investment funds in SG for investment. At the time the clerk also said that students (21 y/o) with no valid income tend to get rejected but I tried anyways.

Is CIMB SG also strict? I haven't read much about CIMB jalan as I'm currently not a customer of theirs yet.

But I think my main question is more about if people here use Transferwise/ Instarem etc to directly transfer money into IBKR

Ah thanks alot Yggdrasil, I read all the old posts saying Instarem can't directly transfer that's why got confused some say can some say cannot

I think I'll maybe try my luck with CIMB then. Don't have official taxable income and can't work either as a full time student but I have quite alot of assets and savings for someone my age, maybe they will check networth instead?

Sorry for bothering you Yggdrasil, but I'm currently filling in the recipient details in InstaRem, I type the bank Name as Citibank N.A and the swift code only appear as "CITISGSG", not "CITISGSGXXX". Is this the same?

Oh okok now I'm trying thru Euro instead, wiring to CITIDEFFXXX Citibank Europe PLC, Germany Branch, anything wrong with it?

Edit: Remove personal info.

This post has been edited by HolyAssasin4444: Aug 29 2020, 01:31 AM

Level 1 quotes are your basic bid/ask prices, bid/ask sizes. Level 2 show the entire market depth of prices. Eg:

SPY Level 1 :
10 ($100)/($101) 27

SPY Level 2:

10 ($100)/($101) 27
7 ($99)/($102) 39
26 ($98)/($103) 97
...

Both TSG and IBKR also need to purchase live data. Ibkr is kinda like a low cost broker, dirt cheap commisions and margin but everything else is alacarte.

If you're unsure which to get, check what stock you going to buy. If it's just ETF like SPY can subscribe to ARCA data 1.50/month or if you want everything its 4.50/month +options(OPRA) 1.5/month

Hi sifus, I just did a test run for Instarem to IBKR, wanna ask is this normal or should I be concerned?

Same here suspecting similar to the post above. You used Instarem for the transfer above too right? Cuz in IBKR FAQ they listed
"IBKR accepts a variety of electronic transfer methods, which vary by the currency type and local payment systems. PayPal, Skrill, WorldPay, Instarem, Western Union, MoneyGram, Citibank Global Transfers and Online Peer to Peer payment systems (e.g., Venmo, Google Wallet, Zelle, Neteller, QuickPay & Square Cash) are not supported."
Curious if they don't officially support it but they would credit anyways with extra review. I'm using IBKR btw and not whitelabels

This post has been edited by HolyAssasin4444: Aug 18 2020, 12:24 AM

Alot of sifus here approve of Instarem so hehe I just follow. But planning to use Transferwise once I finish the points as TW is officially supported by them. The slight better rate on REM not worth the risk imo

This post has been edited by HolyAssasin4444: Aug 18 2020, 12:50 AM

Thanks for the update Yggdrasil. As of now it's been 48 hours and still no news from IBKR. Had to approach customer support to expedite it.

I noticed the rate for TW is actually better than Instarem now. I'll probably make another transaction via them instead.

Yep it would be delayed data, iirc 15 minutes. I plan to trade options so maybe I'll just subscribe to OPRA data 1.5/month. Stock live data I use tradingview since I do charting there anyways. If you want to save money suggest you do the same as it won't be much diff unless you're day trading alot then just go for their data.

Yeap came across Sunway Money too while researching transfer to SG bank. Has anyone tried it to directly send to IBKR? There's no mention of it on the first post from moosset

Edit: Just compared it to TW, difference isn't that much tbf. If send 10k myr to eur Sunway Money cheaper by 0.87 EUR

This post has been edited by HolyAssasin4444: Aug 19 2020, 07:36 PM

Quick update... IBKR just rejected my transfer from Instarem citing "you are attempting to transfer funds from an account in the name of a payment processor"