So we cant do direct transfer back to Malaysia bank account? Quite troublesome to have so many bank account..

Hi All

successfully open an account with IBKR and funded using both instarem and transferwise. I transferred HKD.

learning the TWS platform now, so so so complicated and un-user friendly.

anyone here subscript to market data? the data for HK market is so expensive. can please share with me if I plan to do both Mini HSI futures and stock, which data should I subscript to, really confuse

I hv been using a Malaysia broker and IG to trade Mini HSI and e-mini DJI futures contract. all these brokers give me all in one access for market data but then ofcoz the downside is commission, for emini DJI the Malaysia broker charge me $6 while IB only $2 ( if I read it correctly). and IG is a CFD broker not a real future contract. The low commission tempted me to move to IB.

back to the market data, IB charges only about $10 for US market ( level 1 + level 2) and can be offset against commission. however for HK market data the fee is about HKD 400 a month, and can not be offset against commission. I am still learning hard what is level 1 and level 2 and not sure yet if I understand them fully. looking at the fee I m thinking continue with my Malaysia broker for HSI and use IB only for US market...

anyone here us IB to trade futures appreciate it if you could share your thoughts.

Thanks

Just to share my experience.

I submit my application to IB on Monday and got the approval on Friday.

I use both Transferwise and instarem to transfer HKD direct to IB, transfer wise slightly more expensive by few RM but reached IB account faster by hours. both transfer executed in the afternoon and reached IB next day evening.

commission
1. E-Micro DJI future - US$1.9 round-trip which is quite cheap ( vs $12 Malaysia broker)
2. Option - $0.75/trade
3. share - $0.005 per share and minimum is $1.00

Margin
1. E-Micro DJI - US$ 2,600 ( which is very high)
2. Option - 100% equivalent to your position
3. share - about 3X the position

hope the above help and happy trading everyone

This post has been edited by Investor12: Mar 27 2020, 02:39 PM

NRIC If I remember correctly. Transferwise ask for my passport.

just another tip. I remember after submission of proof of ID next IB will ask you for proof of address.
I submitted a bank statement for that but was thinking I should have used the same address on my IC.
Maybe it will save me the hassle to submit the bank statement. MAYBE

No need to switch the based currency in IB. You can do the transfer inside IB platform. anyway, me too still confused about the currency setting as I read somewhere if you hold US share and do not have USD in your account, IB will charge you interest. so to be on safe side I did transfer half my money from HKD to USD.

My mistake, the commission is $0.005 per share and minimum is $1.00.

you buy share or futures/option?
for share, if you purchase 100 share @1 each = 100 your position size. you will need to have $35+/- in your account ( not exactly 3X but close to)
for futures is different depends on which instrument you are trading.

I could get around 3x. I open a direct account with IB under IB pro

No I dont.
I will open a bank account later for withdrawal and if possible I will open a bank account in HK rather than SG since I trade HK share too. leave this decision for future as I understand the challenge to open a bank in either HK or SG consider I am non-resident.

oh no, kena pattern day trade restriction..... can't trade until next week.
anyone here can share your experience? I know IB will block you from trading for about a week but what if one continue to break the rule again and again?

well, it is what it is and I dont have $25k in my account.. have to wait for one week and need to manage more carefully keep the position open overnight..
luckily there is no such restriction on index futures.

There is but small amount too. It depends if your order type is remove liquidity or provide liquidity. The difference in commission for example in trading option is 0.79 vs 1.2 dollar per trade.
There is a video on youtube talk about this you can search.

Hi all, any TWS user here experiencing frequent market data connection lost in the last 2 days? I used to have this problem in the past but not as frequent as the last 2 days. now is like every 15 minutes the connection will drop... is almost impossible to trade..

thanks.

There are lots of information here you can read, transfer thru instarem, transferwise and maybank.

To me i prefer Maybank straight transfer USD to IB, receive in same day too.

Hi, that's strange, mind if I ask how much you transfer?
I made about 2 transfers using m2u last year and it took max 2 days to reach IBKR.