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 Interactive Brokers (IBKR), IBKR users, welcome!

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LostAndFound
post Jun 1 2020, 11:23 AM

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Anyone used BigPay direct to IBKR? Or to CIMB SG?

Their FAQ at https://www.bigpayme.com/faq-bank-transfer says

International Bank Transfers
This depends on where you're sending to. You can easily find out the cost of your transfer directly in your BigPay app. From Payments, tap International Bank Transfers, choose where you're sending to, enter an amount and we'll show you the fee.

Anyone knows what the limit is for either of the case before?
LostAndFound
post Jun 1 2020, 05:03 PM

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QUOTE(Lakeambience @ Jun 1 2020, 01:23 PM)
Yes I used BigPay to transfer direct to IBKR in SGD, it works fine. I did it with a small amount to try first and then transferred a larger sum after. Refer to my post #1024 on page 52 https://forum.lowyat.net/topic/4843925/+1020

the limit is 20k RM a month I think
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Thanks, you're using CIMB SG or MBB SG?
LostAndFound
post Jun 1 2020, 05:16 PM

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QUOTE(moosset @ Jun 1 2020, 05:10 PM)
I think you're confused. He didn't transfer a bank. He transferred straight to IBKR!
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Oh! Wow. Okay time to open all these accounts and test myself.
LostAndFound
post Sep 5 2020, 05:51 AM

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Just to confirm, SG account (MBB or CIMB) is only necessary for easy withdrawal right? Any cons to opening IBKR/TSG first and only doing the SG account later on?

Also, some confirmation on the fees for TSG, it's only the amount which is shown on the link provided in OP (currently 0.007 USD per share), no further hidden charge? Or is that fee in addition to the IBKR fee (different tiers in the OP link, I'm still trying to read and understand)?

Also, I guess no harm when opening TSG account to take advantage of promo like https://www.tradestation.com/promo/cash-reward/ ? (Deposit X amount to get Y additional, where Y is <1% of your deposited amount)

EDIT: Hmmm... going through IBKR opening, when they ask 'net worth' how to calculate that for a married family (we hold funds jointly managed by me, both also income earners, even though most of our bank accounts/investment is theoretically one person's name). Is it very important what figure I put there?

This post has been edited by LostAndFound: Sep 5 2020, 06:37 AM
LostAndFound
post Sep 6 2020, 06:41 AM

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QUOTE(dwRK @ Sep 5 2020, 07:39 AM)

that promo is "wrong" site ah...that is ori tradestation US, trade US stocks only... we all talking about tradestation international which is different company... you can still open and enjoy the promo smile.gif

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Yeah the account I opened is tradestation-international (as on the OP link) but somehow the promo code when I search got for tradestation. Looks like not applicable la, so no worries.

Thanks for all comments on networth, fortunately my honest net worth is more than the 30k USD figure so honest answer didn't get block for anything. I think my account open di (seems like got two opening procedure, one at TSG and one at IBKR (auto-open after TSG creation)? I got the TSG email, now just need to fund the IBKR account and supposedly will get another TSG email...
LostAndFound
post Sep 9 2020, 02:33 PM

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QUOTE(Ramjade @ Sep 9 2020, 10:37 AM)

The fastest and cheapest way is give your next if kin username and password.
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Password alone can be used to transfer everything out?
LostAndFound
post Sep 24 2020, 10:06 AM

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QUOTE(DJFoo000 @ Sep 23 2020, 04:13 PM)
To add to the wealth of info already in this thread, my experience opening an IBKR account via TSG:

1) Completed account registration IBKR via TradeStation Global (11.50am 21/9 Monday)
2) Sent SGD 326.68 (MYR 1000) to IBKR via TransferWise (1.30pm)
3) IBKR account created (can login) but no trading data yet. (6.00pm 22/9 Tuesday)
4) Received email from TSG that account has been created and ready for funding. Transaction history still show money not received yet. (5am 23/9 Wednesday)
5) Account able to be logged in with trading data. Money not received yet (2pm)
6) Initiated transfer of SGD 1400 to IBKR from CIMB SG via FAST (2.11pm)
7) SGD 1400 received at IBKR. Prompted to register Trusted Contact Person upon first check of transaction. SGD 326.68 via TW still not available. (3pm)

I opened CIMB MY and SG account in parallel on Monday as well. All in all, done in a bit over 2 days.

Would not recommend TransferWise for initial funding direct into IBKR, even if non-USD. The early transfer of SGD into IBKR via TW instead of waiting for CIMB SG to be set up did not provide any time savings. Looks like I'm gonna need to engage TSG CS on that.

EDIT:

8) SGD 326.68 via TW was finally credited in, without my intervention. Guess needed the CIMB SG transfer to be the gate opener only TW can masuk. (10pm)
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So for your step 6, CIMB SG you used transferwise to get the money there or you used CIMB's own internal transfer (and their exchange rate)?
LostAndFound
post Sep 24 2020, 04:13 PM

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QUOTE(Yggdrasil @ Sep 24 2020, 04:05 PM)
Setting up CIMB SG account for first time requires you to transfer using CIMB MY. So need use their rate just once.
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I could get a friend in SG to transfer to me right? Then I transfer to him using instarem/bigpay/whatever
LostAndFound
post Sep 25 2020, 06:02 AM

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QUOTE(Yggdrasil @ Sep 24 2020, 04:32 PM)
No the money must come from you account la.
If like this they might think you doing money laundering.

First time also want save meh? Save only RM80 IIRC.
Afterwards can do BigPay etc.
If open Maybank even worse, need park 500SGD forever otherwise charge you.
CIMB already give no minimum balance laugh.gif
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But they specifically say the money must be transferred via FAST (means must be from SG source?)
LostAndFound
post Oct 2 2020, 04:28 PM

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QUOTE(moosset @ Sep 28 2019, 09:11 PM)
via TSG
No monthly inactivity fee if balance is above $1000.


I just funded my IBKR account, waiting for transfer (FAST from CIMB-SG) to go through. May I ask if this balance is cash balance held or total value of portfolio?
LostAndFound
post Oct 3 2020, 12:55 PM

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Anyone got a noob's guide to the IB website interface? Am a bit confused...
LostAndFound
post Oct 30 2020, 10:25 AM

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QUOTE(Solskjaer66 @ Oct 30 2020, 10:08 AM)
Hi, i decided to open CIMB SG account as most of you recommended this route. However i do not have CIMB MY account. is that ok if i transfer money from my Maybank account? or it really needs CIMB MY to CIMB SG as per their website instruction below? why?  shakehead.gif

"Activate your account by transferring a minimum initial deposit of S$1,000 via FAST:
- from an account with another bank in Singapore;
- or from your own CIMB Malaysia Account."
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Definitely need CIMB MY account because when you open that CIMB MY will check your identity.

You must understand the purpose of this (besides earning from you) is to prevent fake account with fake ID.
LostAndFound
post Nov 5 2020, 10:10 AM

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QUOTE(Pewufod @ Nov 5 2020, 10:09 AM)
i dont understand the purpose of CIMB SG account if i can just transfer from MY banks to IBKR via transferwise/instarem with EUR/SGD ?
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Transferring back.
LostAndFound
post Nov 11 2020, 11:10 AM

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QUOTE(Bendan520 @ Nov 11 2020, 10:52 AM)
Okay let me rephrase, I’m having a hard time figuring out how this works

I bought x1 unit of share at $16.00

Commission is $1.00

But once I got a match at $16.00

My average price reflected in my portfolio is $17.50 instead. That’s a steep jump.

It is a limit order.
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QUOTE(Bendan520 @ Nov 11 2020, 10:52 AM)
What’s a price algo? Really new in IBKR.

Do shed some light..
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QUOTE(Bendan520 @ Nov 11 2020, 10:58 AM)
user posted image
Order matched at $16.15
user posted image

What reflected in my portfolio $17.65 after order matched price at $16.15..

Total cost basis is $18
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Please use multi-quote and/or editing your post, why la wanna have so many posts in a row?
LostAndFound
post Mar 1 2021, 11:36 AM

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QUOTE(Sky.Live @ Mar 1 2021, 09:59 AM)
Can anyone confirm?
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How do you go from "I wonder" to "can anyone confirm?"

Totally speculation also can ask to confirm ah.
LostAndFound
post Apr 1 2021, 09:21 AM

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A bit confused, hoping some sifu here can clear up for me. All these are 31 Mar transactions.

My USD cash balance in IBKR was 240.49 USD

I transferred from CIMB SG to IBKR 7429.72 SGD

I purchased 5524 units of USD.SGD. Set my price at 1.34495, was fulfilled overnight while sleeping. Two batches (is there a way to set that it must be fulfilled in 1 batch?) so got charged 4 USD. Total cost in SGD is 7429.50 SGD (5524 * 1.34495)

My remaining SGD as of now is 0.22 SGD (which is correct). But my remaining USD currently shown in system is 5780.82 USD. By my understanding, 240.49 + 5520 (minus the 4.00 USD fees) should be 5760.49 USD, which means I have extra 20.33 USD.

Anyone can shed some light or explain where my logic/mistake is?

EDIT: To the topic above, my amount shows immediately able to use to buy options. Agree with the above poster that maybe you either didn't transfer to the right account or fill up the correct details on the notification to IB.

This post has been edited by LostAndFound: Apr 1 2021, 09:23 AM
LostAndFound
post Apr 22 2021, 09:20 AM

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QUOTE(Ramjade @ Apr 21 2021, 06:32 PM)
Open up app, convert using app.
If you don't want complete exchange use Tws and select buy USD.SGD and key in how much USD you want.
Select fxconv.
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I did try the buying of USD.SGD, but now in portfolio it shows me as holding USD.SGD options (including calculating my P&L) which is annoying to me. Any way to 'fix' other than 'selling' the USD.SGD (which only makes sense if I'm converting back)?
LostAndFound
post Apr 22 2021, 10:50 AM

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QUOTE(kart @ Apr 22 2021, 09:56 AM)
LostAndFound

In Portfolio in IBKR web portal, there should be a button to disable Virtual FX (on the right side). Press it, and the currency pair is hidden from view.
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Thanks legend!
LostAndFound
post Jun 7 2021, 05:41 PM

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QUOTE(MrEric @ Jun 7 2021, 03:12 PM)
Hi i got few questions wanna ask IBKR experts here.

1) i accidently open IBKR account at Hong Kong site, do i able transfer my account to Singapore? or i need to open a new account at Singapore if i want at Singapore.

2) if not able to do so, do Maybank able transfer the fund to Hong Kong IBKR? and how much the fee Maybank charge?

Thanks
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IBKR account is IBKR account I think. Back when I was opening it would auto redirect to .au, no problem also.
LostAndFound
post Jun 8 2021, 09:09 AM

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QUOTE(MrEric @ Jun 7 2021, 05:55 PM)
Thanks.

Mean that I able transfer fund to Singapore IB even I opened account in Hong Kong? Is there any different fund transfer in IB Hong Kong or IB Singapore or IB in au?
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No difference. You are transferring to IB singapore account regardless. Maybe got tax differences (not sure) but since we're Malaysian definitely no effect (no matter where you will be treated as foreigner).

What benefit to IB to restrict which country you can deposit from?

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