You need to change your account to margin account. You need to change permissionunder settings> user settings I think.
For fractional shares no go unless you are using pure IB. So either you have USD100k or suck up to IB and pay them USD10/month (unless you can generate USD10/commission as it's hard cause one transaction cost like USD0.35)
Just be patient. Sunway money application takes time. If you can't wait, just go via the more expensive route of instarem/transferwise.

USD0.35 is pure IB price.
The one if you don't have USD100k worth in cash or portfolio value or you cannot generate trading commission of USD10/month you will be charged with USD 10/month fees.
https://www1.interactivebrokers.com/en/inde...=1590&p=stocks2

What you are seeing is what you and I use. Whitelabels of IB (tradestation international). You don't pay the monthly USD10/month fees or need to maintain a portfolio worth min USD100k but you pay higher commision of USD1.50/transaction.

A fair tradeoff.

Pick either one. For me I pick the one with the lowest fees.

I do have to let you know that IBKR is doing "limited prop trading", which is unlike most other brokers (including TD Ameritrade).

TD Ameritrade (which promises you 0 commission etc.) route your orders to market makers like Citadel, Virtu etc. Citadel/Virtu and others are taking position against you, not TD Ameritrade.

But this is not the case with IBKR. IBKR may match your orders with other IBKR clients (which is still reasonable), or they may simply take positions against you (e.g., you submit buy order, IBKR sell to you...)

So, IBKR is no longer purely a broker, it's a prop trader, and it's trading against you.

Cheap things come at a price. There is no free lunch in the world of finance.

Just for your info.

Competitive as in? Yes, it's cheap, judging by fees. But you cannot just look at pricing alone. Again, no free lunch. It's cheap because they make money from you in another way: the fact that they can trade against you.

You gain on one hand, you lose on the other.
Of course, to answer Ramjade as well, for long-term investors, the fact that they trade against you won't affect your long-term returns if you are a buy-and-hold investors. But prop trading introduces unnecessary risks. IBKR is not just facilitating the game, it's playing it. Your "broker" could have just charged a fixed commission and earn from both buyer/seller in a typical stock/options trade.

But now, because of greed, they venture further. If they make money by fronting your trade, for instance, the broker will survive, but if they take opposite bets against you and the market sentiment turns yet they have positions which they could not unwind in a short period of time, they will fail. (Then of course, you will claim SIPC can step in... ok this moral hazard part... I cannot argue...)

In short, prop trading destabilizes the broker's finances. You make money in a bull market, like everyone does. When tail risk sets in, it's whole another story. (Citadel, Virtu etc., being market makers, are a different beast.)

I am not saying that there are serious problems with IBKR, but as its users, you gotta know what's going on behind the scene.

It's good to have a second brokerage account to standby, just in case. E.g., I have DBS Vickers + FSM SG, both linked to my CDP account in Spore. Those who can't open a CDP account can have open other brokerage accounts to standby.

CIMB sg is cheaper so no big deal for us here. unless you've already withdrawn once per month to bank, so have to use Wise for once-a-month free withdrawal

you can still link IBKR to wise right? then can still deposit into IBKR, just the most expensive way. Wise bank account is in case you want to do ACH deposit into IBKR

check your statement reports and see


https://blog.seedly.sg/cheapest-brokerage-s...ore-comparison/

Bro, can share why its better?
And how did u manage to get LLC version?

Thnx

IBKR SG:

1. Got SG GST 9%
2. No SIPC protection
3. Margin financing rate higher according to Ramjade, for those with margin account

You can just pull a ticket with customer service to change to IBKR LLC version. Not a big deal, they will respond to you and you just follow their steps. I converted from IBKR UK to IBKR LLC in less than 2 weeks, if I remembered correctly.

Someone asked me the same question before. I answered it here: https://forum.lowyat.net/index.php?showtopi...ost&p=105981925

Correspondent/Intermediary Bank for IBKR (USD):

Maybank: Citibank N.A.
Hong Leong: J.P. Morgan

Hope it helps. I have personally verified both of them.

Wow how did you verify when phone calls to branches don't work. Can share some tips to get info?

Those banks refer to "Maybank/Hong Leong bank" or "JPM/Citi"?

1. If those banks refer to Maybank/HL Bank, unless the staff tells you it's JPM/Citi, otherwise you won't be able to know whether it's JPM/Citi, right? Then you would have ended up like abcn1n's case.

2. If those banks refer to JPM/Citi, (wow HNWI spotted lol), why would the staff bothers to tell you they are correspondent banks to Maybank/HL Bank? Unless you kepo and ask them?

Margin just help you to speed up the settlement date. You don't need to wait for T+2 for settlement and can straight buy and sell. As long as your cash balance is positive, you will never get charged in margin.
I am still on IBKR UK.
I diont think it's USD25. I believe it's USD25. Then intermediate bank take another cut.

The whitelabel was Tradestation Global (TSG). After IBKR cancelled the 10 USD monthly inactivity fees, many opted to shift to IBKR UK, which is the backend of the whitelabel. Since TSG is based in UK, the backend is automatically IBKR UK.

So, Ramjade and I shifted from TSG to IBKR UK, but I took the extra step of shifting further from IBKR UK to US LLC because of the reasons mentioned in my earlier post.

There is nothing wrong with keeping your assets with IBKR UK.

I did change from whitelabel. Only laszy to move it to ibkr us llc. Maybe one of these days when I am free.

cybermaster98 2nd half of the video. timestamp 7:40 onwards

I only remembered that ziet did this video after melondance mentioned it. At least now I know where to refer ppl to if they ask for this. This will be Plan C. Plan A =Cimb sg->Cimb my, Plan B = wise.

Plan B I suspect I'll rarely use due to expensive wise fees, what more Plan C

abcn1n transfer SGD for free to IBKR (like how you bank in to your local stock broker). then, change SGD to USD inside IBKR. you'll be charged U$2 per U$100k, or minimum of U$2. reverse flow, follow the same fee structure. U$2, then FOC IBKR->CIMB sg

Is wise ACH method still working since they change the US account details?

Yes, just remove saved information in IBKR and relink again. It will only let you use the new US account details.

Sent some USD to my Wise after checking the details in IBKR to Wise and it matched. Fund were returned cos of wrong details. Need to re-add the Wise account(which is exactly the same when they rejected and returned my $) and it worked. Kena fees cos 2nd time for the mth 🤦

IBRK took few days to approve my account. so much so that i got desperate and tried to link direct debit to my wise. (direct debit won't work bcos IBRK will take U$x.xx from my wise, and require me to state how much was taken to prove i own the US acct. of which wise will take days to reflect in account)

approval came few days later and i could finally ACH

you can only convert SGD inside IBRK, not RM. for RM, if you want to deposit into IBRK from wise, you can

1. convert in Wise to USD, then from Wise, ACH to IBRK for a fee of U$0.39. or,
   
2. link wise<->IBKR, then from IBKR, request a transfer from wise (more direct, but more expensive)
   

if your IBKR account is created but not approved, IBKR won't give you any bank details to do ACH transfer (via wise, or any other US banks)

Don't know la. I believe cheapest route
RM-> SGD via moneymatch/money changers -> sg bank acocunt--> SGD into IBKR -> convert to USD via IBKR

you can pick VUSA instead of VOO... save 15% on dividend tax. to save on transaction fees, use the "recurring investment" feature in IBKR to buy
https://www.bogleheads.org/wiki/Nonresident..._domiciled_ETFs

I said many times in many places. If you want highest return, go with QQQ. Their return have always been more than S&P500 butord volatile. If you cannot stand volatility, then stick with S&P500. Ireland version of QQQ
https://www.reddit.com/r/singaporefi/commen...lent/?rdt=63973

US etf if you want to do options.
Ireland version if you don't want options and save 15% on dividend tax.
CSPX (non fractional shares) or VUAA (lower price and support fractional shares)

Once you get 100 shares in US, you can easily do options to get back your 30% tax and more. Not everyone wants to do options.

Why not MGK if you want to be more tech heavy? 58% portfolio in Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, Meta and Netflix. Performance wise almost the same but annual expense ratio only 0.07% vs 0.20% for QQQ

I did abit of research and wonder if someone can advise me whether I should invest in my son's study fund in

Vusa vs VWRA

Vusa is 100% in US
Where as Vwra is more global

Dividend yeild wise Vwra wins but Vusa has better performance