Hello, big fan of your blog, if you don't mind, can I know how much do you usually save up before putting into IBKR/TSG? I've tried to extrapolate this from your monthly update but its less than conclusive.

(Based on my current currency conversion path, its RM5 (MYR->CIMB SG) + $2/RM8 TSG conversion on SGD to USD. Then its $1.50USD (~RM6) minimum per trade on TSG.)

So every trade roughly cost RM20 in fees overall, if kept below 1% fee per trade, thats RM2k per trade. I am curious on if you are trading monthly or you do save up to a certain target amount before trading; If its the latter, what do you do with that money in the meantime?

Thank you for your sacrifice for science.

Yeap... easy mistake if not careful.



This post has been edited by Hoshiyuu: Mar 19 2021, 11:54 AM

It would be no difference than Wise/Instarem direct wire though. The benefit of going through SGD in a Singapore Bank named after you is to have a proper trail after all, less headache when IBKR rejects it.

Meanwhile, both my CIMB SG account and TSG-IBKR account is funded and ready with much thanks to polarzbearz and Ziet Inv!

TSG-IBKR only took 3 days from first registration to getting approved, so efficient even when they claim high load.

Also thanks to Ziet's advice I manage to get approved with just $1000 initial fund instead of $2500.

This post has been edited by Hoshiyuu: Mar 19 2021, 07:33 PM

I am going for the boring non-US bogleheads style, VWRA+AGGU, I'd assume most people here would likely disapprove if not at least disinterested of it LOL

This post has been edited by Hoshiyuu: Mar 20 2021, 06:40 PM

Credit to Ziet Inv

Random midnight snapshot for those curious on how to bring money back from IBKR->CIMBSG->CIMBMY

TransferWise:


CIMB SG -> MY self account remit



The CIMB SG->CIMB MY transfer rate is pretty good! For MYR->SGD the usual path is still better.

SMS address in IBKR from my understanding is referring to the email bound to your phone number in foreign phone plans - so for us Malaysians, we likely don't have a equivalent to it. Just filling in phone number and normal email address should cover all your notification needs.

https://www.interactivebrokers.com/en/softw.../smsaddress.htm

This post has been edited by Hoshiyuu: Mar 23 2021, 10:55 AM

You can lump sum now if you want, that's what I did, lump sum on registration. Worst case they'll refund you if rejected anyway.

They review funded account first as they say - I got my account approved the day after I fund.

I used CIMB SG thats under my name, and picked Bank Wire under SGD option. I have no idea how people do it with Wise/Instarem/SunMoney.

For CIMB-SG to IBKR SG Trustee, I followed Ziet's guide. https://www.instagram.com/p/CL27ThUniqD/

This post has been edited by Hoshiyuu: Mar 24 2021, 01:36 PM

Correct me if I am wrong, but after reading through the article



Doesn't it mean that sweeping is only done when a user fall beyond margin threshold? There's no way that this happen in a positive case.

If you wire from CIMB SG to IBKR's SG Bank Hongkong and Shanghai Banking Corporation Limited under SGD - there are no fees incurred.

This post has been edited by Hoshiyuu: Mar 24 2021, 02:13 PM

Just an important reminder when you make your deposit (I can't stress this enough):



This post has been edited by Hoshiyuu: Mar 24 2021, 02:27 PM

I see, thanks for the the great info!

I am having the exact same experience with you. I've been trading for a week now, and every now and the I get TSG's email for activity statement, but I've never received my TSG credentials.

But based on commission rate that I am being charged, I have no doubt its IBKR Pro under TSG.

Ziet have a short segment on how to check via previewing order here https://youtu.be/Nd4Q3ABdNhc?t=798

This post has been edited by Hoshiyuu: Mar 25 2021, 03:38 PM

I can generate a report - what is the item I am looking for in the report to double check?

Found it, appreciate the pointers! Can trade in peace while expecting the ultra late TSG credential that i'll throw away

Just to reconfirm polarzbearz is correct, my <5SGD leftover was swept into USD (my account base currency) after like a week.

Thanks again for the amazing information as always.

Weird thing is I had similar issues but my buying power was at its full value.
I had to wait 24 hours before it was usable regardless.