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 Interactive Brokers (IBKR), IBKR users, welcome!

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VincentCS
post Apr 24 2020, 08:51 PM

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This might sounds dumb, but does anyone here know IB can withdraw money to Instarem, and then transfer to Malaysia banks?

VincentCS
post Apr 24 2020, 09:21 PM

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Nvm, thanks Ramjade

***I just got brain f a little

MCO got to all of us

This post has been edited by VincentCS: Apr 24 2020, 09:23 PM
VincentCS
post Sep 5 2020, 03:48 AM

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QUOTE(Ramjade @ Aug 25 2020, 04:18 PM)
Theoretically can if you have tw borderless account. Do you have tw birderles account.
How to open borderlands account now? It shows Malaysian can now only send money but not receive it
VincentCS
post Sep 14 2020, 08:32 AM

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Anyone here using HSBC foreign currency account?

Wonder what's their opinion of it, comparing to other local banks on bringing back fund from USD.
VincentCS
post Sep 14 2020, 08:24 PM

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QUOTE(echoesian @ Sep 14 2020, 09:37 AM)
Yes, I wish to know as well, another question is how much HSBC charge for transferring fund from HSBC Everyday A/C to IKBR directly? How is the conversion rate of HSBC on MYR -> USD ?
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FX rate is higher than fintech of course, but i don't see other way to bringing back fund from IBKR to malaysia. At least with FCA I can hold USD until the rate favors me.

TT fees from Malaysia to US is RM45 per transaction. And then US will charge additional fees when receive the fund too. But all in should be less then RM100. According to Relationship manager
VincentCS
post Sep 14 2020, 08:55 PM

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user posted image

Hi all, does this means my account has been approved, and I can start fund money in to start trade right?

I specifically open IBKR through TSG (as in this thread), but how can where can double check if it has any fall below fees and the USD 100,000 requirements?

Thanks!
VincentCS
post Sep 14 2020, 09:23 PM

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QUOTE(tadashi987 @ Sep 14 2020, 09:02 PM)
yes.
go to ur side bar> report>download any report and check the account information, is the master name = TradeStation International Ltd, then nothing to worry of

user posted image
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I've check, it is. THANKS!

But now encounter another problem when i try to put an order. It shows "I don't have trading permission" ?

user posted image
VincentCS
post Sep 14 2020, 10:40 PM

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QUOTE(tadashi987 @ Sep 14 2020, 10:28 PM)
go to sidebar > account setting > trading permission > declare you have experienced in stocks before

user posted image
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Thanks but i just found out is my account type is portfolio margin, already request change to margin type

Btw what's your way of funding your account and withdraw from it? wire transfer from banks or Singapore bank account?
VincentCS
post Sep 14 2020, 11:19 PM

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QUOTE(tadashi987 @ Sep 14 2020, 10:50 PM)
fund from and withdraw to CIMB SG FASTSAVER
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Do you buy ETFs denominated in SGD hedge? or convert to USD first? I afraid the exchange rate plus USD instability now might eat away savings. bangwall.gif
VincentCS
post Sep 15 2020, 07:05 AM

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QUOTE(Ramjade @ Sep 15 2020, 01:12 AM)
If you are on margin, beware of force sell. Yes IB can will do a force sell.


Well, I have no idea how I chose margin type in first place, and I tried request downgrade to cash only, but the options only limit to margin now.

But if I didn't put on margin order the force sell still affects me?

QUOTE(Ramjade @ Sep 15 2020, 01:12 AM)
Use fintech deposit money into SG bank. Avoid using Malaysian banks at all cost.
From there just deposit SGD straight into IB SG bank account.
Sg is a very lousy financial hub compare to HK.
Just bite the bullet and convert to USD. There's 2 way.
1. Monitor exchange rate. Change more USD when it's weak
2. Just change regardless of exchange rate.

I am using method 2. Cause no time to monitor. Better for me to use my time for other stuff.
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Thanks, for tips, I am thinking directly use a HSBC foreign currency account, and only use it to bring back money. Meanwhile I'll use fintech to transfer MYR directly to IBKR. Have you tried it before?

VincentCS
post Sep 15 2020, 12:24 PM

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QUOTE(lamode @ Sep 15 2020, 11:33 AM)
generally speaking, it's sad but the reality is the quality and professionalism of our bank officers here totally failed.
they may be able to answer questions related to common tasks, anything more, your guess is likely as good as them, because they also simply shoot without knowing for sure.

too many occasions they gave my opposite/misleading info of what stated in their product descriptions and/or T&C.  bangwall.gif  rclxub.gif
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Seems like the wiser choice is to open a SG bank account huh...

I just want to buy hold some ETFs and trade some FAANG stocks. Nothing fancy like futures etc.
VincentCS
post Sep 16 2020, 03:49 AM

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QUOTE(lamode @ Sep 15 2020, 12:38 PM)
sign0006.gif  sign0006.gif  sign0006.gif

for the benefit of others, if you not looking for the most cost efficient way to trade US stocks, but rather a simple and easier method to buy once in a few months or so to hold for long term, no need so troublesome.

local broker can also buy US stock, like CGS CIMB for example.

now let's back to IBKR related topics smile.gif
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Alright. But I already opened IBKR, now never say never, I'm still learning here, perhaps in future I will trade US stocks often too

 

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