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 Interactive Brokers (IBKR), IBKR users, welcome!

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cucumber
post Jun 16 2020, 11:11 AM

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QUOTE(Yggdrasil @ Feb 25 2020, 12:36 AM)
Estate tax (inheritance tax) applies if you die. Not mistaken capital gains are taxed at 40%. However, around $60,000 is exempt if I remember correctly.

You can let your beneficiaries of your will know that you invest in US stocks so they know how to get the money back. Sometimes it's better not to bring back the USD back to Malaysia but just park the funds elsewhere. Not sure if the estate tax applies if the stocks are not liquidated.
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So if the owner of the account passed away, the capital gains on all the stocks will be taxed 18% to 40%? I didn't know that. Do you know the procedure of getting the money back if this was already written in the will? I'm just concerned if there are a lot of hoops to jump through or if they make it very difficult for the beneficiaries to claim the funds like what joeblow said. How do you guys manage this for your international brokerage accounts?
cucumber
post Jan 27 2021, 11:30 PM

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QUOTE(silverwave @ Nov 21 2020, 01:57 PM)
Good to hear that, thanks polarzbearz.  biggrin.gif

Having the same problem with eTrade also and they only want a non expired passport to create the account.
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Just wondering, did you manage to open an account without a passport? Mine is expired too.
cucumber
post Jan 27 2021, 11:35 PM

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QUOTE(silverwave @ Jan 27 2021, 11:33 PM)
IBKR or eTrade?
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IBKR, I'm planning to open through tradestation global
cucumber
post Jan 28 2021, 01:05 AM

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QUOTE(silverwave @ Jan 27 2021, 11:38 PM)
IBKR can use IC (or may be driving license), no issue. eTrade is stubborn, they want non expired passport only.
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Ah ok. Thanks
cucumber
post Jul 9 2021, 01:36 AM

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QUOTE(HolyAssasin4444 @ Jul 9 2021, 01:29 AM)
IBKR sent us an email. The change seems to be permanent. Applies to friends&family accounts and family offices too

user posted image
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This is good news. So if we sign up with the normal ibkr, we can buy fractional shares without having to pay the $10 monthly fee yea?
cucumber
post Jan 15 2022, 06:18 PM

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QUOTE(Davidtcf @ Jan 15 2022, 05:46 PM)
Rakuten trade will be available to buy US stocks at end of this month. Ziet Invest just made a video:



looks gooood  laugh.gif
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Just a note, I've lost a bunch of money before trading on rakuten's platform because their server sucks big time, always hang/crashed. Ie. Not able to sell when you want to.

There's also no stop loss feature unlike other established platforms.

I guess for buying & holding long term it is probably ok, not for trading.
cucumber
post Jan 29 2022, 02:59 PM

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QUOTE(MasBoleh! @ Jan 29 2022, 08:43 AM)
Hi all, I have a special case here.

I have a friend in US that needed my help to settle his house loan here at RM 12,000, this is to avoid forex charge.

So now I planned to invest into S&P 500 and have read about it in the 1st post and also most of the post here.

Is currently the best method?

1. Create Transferwise (Understand they will asked for proof of transfer)
2. Create an IBKR account
3. My friend will transfer the USD with the value of RM 12,000 to my Transferwise directly from US
4. From Transferwise then transfer to IBKR account
5. from IBKR account buy my preferred S&P500 counter under IRL domicile.

Understand currently got ARKK too, but i am not too sure wanna invest this or not. So for now i will be focusing on S&P 500

And I also aware that the Fed planned to raise interest 3 times this year depending on the inflation rates, so I am not sure now is the right time to enter or not. Seek for the kind advice.

Thank you notworthy.gif
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I've been using Wise to deposit money into IBKR. Not sure if it's the best method but that's what I'm doing now and so far so good.
cucumber
post Jan 29 2022, 09:15 PM

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QUOTE(tadashi987 @ Jan 29 2022, 07:48 PM)
how long does it take for the money to be in IBKR account?
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I normally do it at night like 9pm to 10pm. Usually received in IBKR by 4am to 8am.
cucumber
post Jan 29 2022, 09:40 PM

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QUOTE(MasBoleh! @ Jan 29 2022, 09:22 PM)
Which currency you deposit to?
I only worry about the charges, from my understanding , seems like IBKR got some charges if transfer from wise to it.
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USD.

Example, I made a $1000 USD transfer yesterday.

There are 2 charges:

1. RM18.86 = Transferring from local bank, Ringgit to USD by Wise
2. $0.51 USD = Transferring from Wise to IBKR (I think this is fixed regardless of the amount)

To me, this is fair.

There'll be a $7.50 USD charge if you transfer from IBKR to Wise though.

This post has been edited by cucumber: Jan 29 2022, 09:51 PM
cucumber
post Mar 31 2022, 11:49 PM

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QUOTE(AthrunIJ @ Mar 31 2022, 05:57 PM)
Anyways, is it possible to just straight transfer from Wise to IBKR?

Anyone has a tutorial on how to do it, and any thing to take into consideration?
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Sure many here are transferring using Wise, myself included. Ziet's YouTube channel got a step by step tutorial.

Pretty straightforward and simple really.
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