Omg I deposit 1000 USD using maybank. But then when reached my account only USD975. Called maybank and they said is not charged by them. IB charges on deposit?

Haha omg! cause my first transfer i put USD10 to test, and i did receive USD10. Then 2nd time put USD1,000 kena ady. I guess next deposit I better put more.

Haha. Try transferring USD10 X 100 times.. you're gonna smash your laptop.

Oh btw is the USD25 deposit fee apply to TSG too?

IBKR calculate by number of stocks, not the value. So long story short, if you're buying penny stocks, better use local bank (with the condition you're buying at optimum value, i.e. USD6,250). If buying large cap stocks like AAPL, AMZN, use IBKR.

Say stock is USD0.1 per stock.
IBKR: 100,000 units = USD350 (Edit: Max charge 1% x 10,000 = USD100)
Local bank: 0.4% = USD40

Say stock is USD10 per stock.
IBKR: 1,000 units = USD3.5
Local bank: 0.4% = USD40


Edit: Note for future readers, for IBKR there is a 1% max cap, edited to reflect the correct info. Thanks for pointing out @dwRK

This post has been edited by Raymond_ACCA: Jun 9 2020, 05:10 PM

Haha yes! Totally forgot about the Max 1%. Never have I reached the max before cause never purchase so big quantity lol.

Tried transferring SGD using BigPay. SGD810. Only RM2,500 max BigPay top up for me per month. First international transfer is free. Since no place to write user ID/reference, I purposely put a non-round number just in case they can't match lol.

Received it in IBKR after 2 working days.

Yes. They automatically opt my fees following TS global. Not sure how to opt back to Pure IB though, but didn't bother as my trade commission via IB currently is USD10 or less per month anyways. Barely trade penny stocks or active trading.

No need. First, create a new method of transfer, then just say it's from BigPay and fill up the information required. Even the information for bank account number is optional.

Then, initiate a notification of intent to transfer with them. Just ensure the amount stated on intention to transfer is the exact same amount that you're gonna transfer.

It seems they just match the actual amount transferred via the stated bank vs the notification of intent to transfer. So, to be safe, I put in a non-round number. Once, when transferring USD via Maybank, I actually forgot to put my user id/reference, but the amount still got deposited in a matter of hours.

Note that BigPay cannot transfer in USD ya. So ensure you select SGD as currency.

Oh great, thought max was 2,500 whichever method

Never withdraw before though, sorry can’t help on this. But I read somewhere in the website there’s a limited number of free withdrawal per month, then got some charges.

I checked the conversion from SGD to USD in IBKR. Looks quite near google's rate. This means transfer is now made easier with using BigPay + Conversion via IBKR to purchase US stocks. Least hassle and less fees than bank TT.

Tried SGD 2.2k, no problem also.

Has anyone tried exercising warrants in IBKR before? What was the procedure? Have to email support?

Also, how does one transfer to pure IBKR? Also via email support or can do it ourselves?

Big pay has served me well. Their MYR/SGD rates are always almost close to google’s rate. And then convert to USD via IBKR is cheap too.

Basically can reach within 1 day if transfer before 5pm (will receive the money in IBKR before US market open the following day)

For international transfer, it’s RM20k daily, RM30k monthly. I slowly pump in money everytime after I sell some bursa stocks lol.

The RM10k limit is between local bank to big pay.

This post has been edited by Raymond_ACCA: Jul 15 2020, 05:31 PM

Oh I should reword.

International transfer =20k per day/ 30k per month
Top up = 10k per day.

Guys, anyone participated in any IPO via IB? I am chatting with CS now and it seems there is no way we can do that via IB.

Have anyone tried using another person’s BIGPAY account to transfer to IBKR? Asking this as my bigpayinternational transfer already reached limit for the month.

Bumping this question.

Would like to know from anyone who did this before. How long does the withdrawal process take and the fees involved and the overall experience in withdrawing to a Maybank MYR account..

Thanks!