I read that there is no longer any 'inactivity fees' for some time now, and now the only charges are the commissions for actual trades done. I hope I read the correct news. Anyway, I can't find the much talked about 'inactivity fees' on their current website.

During the recent TD Ameritrade SG shutdown, I managed to get my account transferred to TD Ameritrade USA. However, I learnt that they do not allow foreign account holders to name any beneficiaries.

Upon checking with my Will executor, they said the repatriation of any assets from the US normally is quite troublesome and may take years and lot of costs involved. So now I am mulling closing out that account, bring back funds to Malaysia in USD and then open an IBKR SG account.

I don’t have USD bank account in Singapore. So will need to convert to SGD when receiving in my SG bank from TDA US, and then back again into USD to IBKR. Not good.

This post has been edited by Mattrock: Nov 16 2023, 08:26 PM

For some reason after qualifying as AI, a new account is opened, and it is managed from US. So if I were to do a withdrawal to a local bank, it has to be to a US bank. To send to Singapore or Malaysia, it will be via international wire transfer. I am finding out what TDA SG's role is now. Anyway, since this is IBKR thread, I won't prolong this subject.

If MY residents end up with IBKR US account, then no point for me to transfer to IBKR. Will investigate this. Thanks.

Thanks. My only concern is if something happens to me and my beneficiaries face issues accessing the money. Since we have established that both TDA and IBKR are US based for Malaysians, no point switching. I suppose I will have to repatriate the monies back to Malaysia (in USD) if I get diagnosed with some critical illness, so as not to trouble my family and to avoid inheritance tax. Until then, just keep trading.

If run over by a bus, then sorry la. 😄