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 Interactive Brokers (IBKR), IBKR users, welcome!

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anwa
post Jul 12 2020, 07:23 PM

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QUOTE(kucingfight @ Jul 11 2020, 08:52 PM)
i have been using Trading212 for past few weeks.
basically good stuff:

a) accessible to US,  Europe (not fully)
b) no maintenance fee
c) fractional shares.  (from USD1)
d) no transaction fees
e) easy to deposit money (use BIGPAY debit card for almost @ spot live rate)
f) option for CFD account. i did not explore it yet

overall, great brokerage with everything laid out clearly
If ur a small amount investor who doesn't want misc fees and inconvenience, trading212 is the way to go

Basically, easy forward to open acc. doc needed : Passport, Bank account statement, utility bills. Most important of all, name and address must same and correspond to you what you have registered.
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Did you noticed the spread was high? I noticed their price can be different to ibkr/google. Might just be data delay, I'm not sure. I've open an acc with them a month back but haven't deposited, worried how to withdraw. If you can test, that would be great, particularly withdraw to bank account or credit card/debit card other than bigpay.
anwa
post Jul 12 2020, 08:42 PM

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QUOTE(aj300 @ Jul 12 2020, 08:33 PM)
Is there a way to transfer money from Transferwise in malaysia to IKBR? Thanks. If possible in USD?
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USD is impossible due to USA laws, need to come from account with your name and not third party. I've used transferwise myr to gbp. Should also work for sgd, eur, aud and hkd. However recently some reports ibkr question deposit from transferwise and Instarem. So, you might need to try and see how it goes.
anwa
post Jul 12 2020, 10:10 PM

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QUOTE(normanTE @ Jul 12 2020, 10:03 PM)
I had opened the IBKR trading account thru website.
problem come when i try to TT telegraphic transfer the fund the trading account.
the excused given by uob. ocbc and maybank malaysia is the account that receive the fund must be your name not interactive broker account
is this even possible bank negara made it so difficult to transfer the funds out of malaysia.
If I go to blackmarket and do them, there will be some repurcusion eg CRS or OECD which you need to answer to LHDN despite all the funds is legally acquired.

is there anything that i filled wrongly?
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That's strange, by right TT should work. Only that the fees are higher. Where got logic only TT to own name? Say I want to send money to relatives or to merchant, surely is the receiving person name.
anwa
post Jul 12 2020, 10:33 PM

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QUOTE(normanTE @ Jul 12 2020, 10:19 PM)
kindly elaborate abit here. how to use singapore banks?
do you mean i need to open up uob ocbc or dbs in singapore and transfer funds from malaysia to singapore 1st before sending them to IBKR?
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From previous post, you can open maybank SG or cimb SG while here in malaysia as long as you have account with them. Cimb sg suppose to be easier, can do online. I haven't tried. Then of course you need to deposit sg into the account, can use bigpay, transferwise, instarem.
anwa
post Jul 12 2020, 10:58 PM

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QUOTE(normanTE @ Jul 12 2020, 10:45 PM)
here come the multiple fees loses. i need to convert MYR to SGD and then deposit sgd or convert sgd to usd in IBKR this is nuisance
singapore had a very limited options of stock. my expereince is all discount brokers dont survive except IBKR. it been around since 1980's
others just dont survive the time.

before you make a dime you will generally loss around 2% in fees and commission from converting rm to usd ( worse still if you go thru sgd then usd)
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Well, alternatively, you use transferwise direct to gbp or eur or aud or hkd ibkr. Either way inside ibkr you still need to convert to usd spot rate + $2. Unless you want to direct TT to ibkr usd, which will cost a lot.
anwa
post Jul 12 2020, 11:01 PM

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QUOTE(Ramjade @ Jul 12 2020, 10:54 PM)

Malaysian banks -> Instarem/bigpay/TransferWise-> Sg bank > IBKR Sg Bank account (local transfer in SGD) -> convert at spot rate inside IBKR. I am basically using money changer rates or close to money changer rates using those fintech.
As long you have proof everything and you paid your tax you are free to invest.
Only scared if you got no proof.
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Have you tried transferwise direct into ibkr recently (eur/gbp/aud/hkd/sgd)? Read some where rumours ibkr will query since 3rd party. I didn't encounter any issue last month myr to gbp but haven't tried since.
anwa
post Jul 21 2020, 06:24 AM

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QUOTE(willylwl @ Jul 21 2020, 12:05 AM)
Hello Sifu,

May i ask if we must subscribe to real time market data in order to trade with Interactive brokers ?
Just now i placed a limit order for PEP $132.50, but why my executed price became $133 ?

Thank you.
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Yes, need to pay for real time data. Otherwise, use the snapshot button. It cost 1cent per snapshot, first 100 is free. I also use yahoo finance or Google to check latest price before I place order.
anwa
post Jul 21 2020, 06:27 AM

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QUOTE(Chanching @ Jul 20 2020, 02:04 AM)
Hey guys so for every buy and sell of shares I see 1.5 commission fees..What does that exactly mean? Like 1.5 usd charge per share bought?

Or like per trade? So lets say if I buy 100 shares of a stock, will I be charged only 1.5 usd for the entire order OR 1.5 per share?

Can someone help me clarify this haha?

Btw another post mentioned regarding subscription to market data, how do we know if we’re subscribed or not and if were charged monthly?
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Check out the pricing here. I presume you are using tradestation global/ibkr.
https://www.tradestation-international.com/...ng-commissions/
anwa
post Jul 21 2020, 03:05 PM

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QUOTE(MNet @ Jul 21 2020, 10:47 AM)
first 100 is free per month or how?
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https://forum.lowyat.net/topic/4843925/+683
Check out post #683 in this thread.

 

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