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 Interactive Brokers (IBKR), IBKR users, welcome!

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echoesian
post Feb 16 2020, 11:30 PM

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Wanted to ask, why don’t just transfer USD from a local bank USD account to Interactive Broker?
echoesian
post Feb 20 2020, 11:31 PM

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I just opened a multi currency account at HSBC. How do you guys transfer the USD money to the IBKR account?
echoesian
post Feb 21 2020, 12:06 AM

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QUOTE(Yggdrasil @ Feb 21 2020, 12:01 AM)
Not mistaken you can't.

Go to your account management then try to initiate a transfer from USD.
They only accept US banks and banks that have IBKR as their bill pay.
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I selected Bank Wire transfer, it generated a reference number for me. But from my HSBC account, I can't seem to find a way to transfer to my IKBR account
echoesian
post Mar 18 2020, 12:48 AM

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For Instarem, which currencies give better rate? EUR, SGD or HKD?
echoesian
post Apr 1 2020, 09:17 PM

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I wonder if all these additional rates, at the end of the today would it be better to use local brokerage given that the fees difference are almost the same?
echoesian
post Apr 3 2020, 01:30 AM

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QUOTE(Ramjade @ Apr 1 2020, 11:16 PM)
Depends on you.
If you like paying more per exchange of currency,  pay dividend fees and pay quarterly platform fees why not?

I don't like to give banks free money hence they will never earn my money.
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I was comparing my brokerage charges and the IKBR + Instarem. My brokerage charges USD24 + some miscellaneous. Instarem forex fees is around RM90++.
echoesian
post Jul 17 2020, 11:59 PM

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Trading212 is so cool, the user interface is very user friendly and modern. I wonder if 0$ commission, 0 fees, how they make money?
echoesian
post Jul 20 2020, 11:58 PM

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What is the best and cheapest method to transfer money to Trading212?
echoesian
post Aug 5 2020, 11:26 PM

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I have registered the tradestation, but how come it brings me to the IKBR?
echoesian
post Aug 5 2020, 11:40 PM

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QUOTE(tadashi987 @ Aug 5 2020, 11:32 PM)
https://www.tradestation-international.com/global/

TradeStation International Ltd acts as an introducing broker to Interactive Brokers (U.K.) Ltd. and its affiliates

Tradestion is Interactive Brokers's whitelabel

for ur further reading:
https://forum.lowyat.net/topic/4744515/+1000#entry97633021

https://choivocapital.com/2020/05/03/nuts-a...3E1R7QFPmVIykcE
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So where can I find the tradestation login link?
echoesian
post Aug 7 2020, 01:06 AM

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QUOTE(tadashi987 @ Aug 5 2020, 11:50 PM)
u have finished ur accout opening process, done funding, and got approved?

if yes, u can just login to IBKR web portal, mobile app, or TWS using the ID and password u set
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Since the website is the same as IKBR, how does it differentiate between IKBR and Tradestation? I just wanna make sure my account is under Tradestation and not IKBR to avoid the monthly charges...
echoesian
post Aug 7 2020, 01:09 AM

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QUOTE(teen08 @ Aug 6 2020, 05:39 PM)
If I have a IBKR account. Can I still use TSG to offset the 10 usd fee?

Edit: ibkr lite is better or whitelabels Like TSG
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Is there a way to switch existing IKBR Pro account to lite?
echoesian
post Aug 17 2020, 11:56 PM

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QUOTE(Yggdrasil @ Aug 15 2020, 11:48 PM)
With TSG, you can use TSG's software to trade (very complicated) or use IBKR's app/software.
Everything else is the same. However, I believe you cannot buy fractional shares with TSG. Only pure IB is allowed.

IBKR account minimum requirement to open is lower compared to $10,000 previously.
Now it's $0 or $2000 for margin account.
However, if your account value is <$100,000, you will be subjected to monthly fee of $10 (commissions can reduce this payment).

TSG doesn't charge you monthly fee only if your account maintains a certain amount per month.
I think it's at least $1,000 or they will charge $1 per month. Can check with moosset because I remember him mentioning it to me.

Edit: Found the post https://forum.lowyat.net/index.php?act=ST&f...post&p=96388746

TSG also charges additional 2.5% on top of IBKR's rate.
I.e. if IBKR charges 0.5% to borrow EUR, TSG charges you 3.0% (0.5% + 2.5%).
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Nett nett, IKBR is still cheaper than TSG?
echoesian
post Aug 18 2020, 10:23 PM

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QUOTE(Yggdrasil @ Aug 18 2020, 12:05 AM)
If you don't plan to put a lot, want to reduce monthly fees, and don't use margin often, then go for TSG.
Otherwise, go IBKR.

Example:
If I borrow $10k on margin to buy stocks, the extra 2.5% charged by TSG means I'm paying additional $250 extra per year but I don't need to pay monthly fees.
If I borrow $10k on margin using IBKR, I pay $250 less per year but need to pay $10 per month if I don't have minimum amount to be exempt.
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I am trying to link my existing IKBR PRO to TSG, but it failed.
echoesian
post Aug 18 2020, 10:29 PM

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Do you guys know is there anyway to change existing IKBR PRO account to TSG?
echoesian
post Aug 18 2020, 11:50 PM

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Anyone using TD Ameritrade, it also $0 fee
echoesian
post Aug 18 2020, 11:53 PM

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I wonder how does this stock broker earn money with charging customer $0 fee?
echoesian
post Aug 19 2020, 12:03 AM

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QUOTE(Yggdrasil @ Aug 18 2020, 11:58 PM)
Can stop put your questions into 1 post  sweat.gif A bit spam

If I'm not mistaken, TDA charges $25 to withdraw money. IBKR gives 1 free withdrawal every month.
I know that IBKR has the lowest margin rates. TDA is significantly higher. So they definitely make money there.
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Does TDA charge the monthly activity fee such as IKBR charge $10 per month?
echoesian
post Aug 19 2020, 12:14 AM

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QUOTE(Yggdrasil @ Aug 19 2020, 12:08 AM)
... I don't have experience with TDA. Why not you check their website?
You can bypass the $10 monthly fee if you sign up for TSG (IBKR) instead.

<$2 fee also want to count meh? Already cheaper than Malaysia.
Also, you should be focusing on making money than trying to save on fees.
Fees already dirt cheap. Meanwhile, you buy wrong stock, lose few $100 but $2 want to save?  laugh.gif
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Seems like IKBR does not approve my application with TSG because maybe I already have an existing IKBR PRO account
echoesian
post Aug 19 2020, 12:22 AM

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QUOTE(Yggdrasil @ Aug 19 2020, 12:19 AM)
Oops didn't read your post earlier.
Hmm. I'm not sure if I can help. Sorry :X
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Does IKBR allow multiple account under the same name? If not, I would need to delete the IKBR Pro account first then create another new one via TSG?

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