Wanted to ask, why don’t just transfer USD from a local bank USD account to Interactive Broker?
Interactive Brokers (IBKR), IBKR users, welcome!
Interactive Brokers (IBKR), IBKR users, welcome!
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Feb 16 2020, 11:30 PM
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#1
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Senior Member
3,294 posts Joined: Dec 2005 |
Wanted to ask, why don’t just transfer USD from a local bank USD account to Interactive Broker?
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Feb 20 2020, 11:31 PM
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#2
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Senior Member
3,294 posts Joined: Dec 2005 |
I just opened a multi currency account at HSBC. How do you guys transfer the USD money to the IBKR account?
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Feb 21 2020, 12:06 AM
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#3
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3,294 posts Joined: Dec 2005 |
QUOTE(Yggdrasil @ Feb 21 2020, 12:01 AM) Not mistaken you can't. 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 accountGo 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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Mar 18 2020, 12:48 AM
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#4
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Senior Member
3,294 posts Joined: Dec 2005 |
For Instarem, which currencies give better rate? EUR, SGD or HKD?
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Apr 1 2020, 09:17 PM
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#5
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Senior Member
3,294 posts Joined: Dec 2005 |
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?
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Apr 3 2020, 01:30 AM
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#6
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3,294 posts Joined: Dec 2005 |
QUOTE(Ramjade @ Apr 1 2020, 11:16 PM) Depends on you. I was comparing my brokerage charges and the IKBR + Instarem. My brokerage charges USD24 + some miscellaneous. Instarem forex fees is around RM90++.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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Jul 17 2020, 11:59 PM
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#7
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3,294 posts Joined: Dec 2005 |
Trading212 is so cool, the user interface is very user friendly and modern. I wonder if 0$ commission, 0 fees, how they make money?
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Jul 20 2020, 11:58 PM
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#8
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Senior Member
3,294 posts Joined: Dec 2005 |
What is the best and cheapest method to transfer money to Trading212?
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Aug 5 2020, 11:26 PM
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#9
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Senior Member
3,294 posts Joined: Dec 2005 |
I have registered the tradestation, but how come it brings me to the IKBR?
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Aug 5 2020, 11:40 PM
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#10
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3,294 posts Joined: Dec 2005 |
QUOTE(tadashi987 @ Aug 5 2020, 11:32 PM) https://www.tradestation-international.com/global/ So where can I find the tradestation login link?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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Aug 7 2020, 01:06 AM
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#11
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3,294 posts Joined: Dec 2005 |
QUOTE(tadashi987 @ Aug 5 2020, 11:50 PM) u have finished ur accout opening process, done funding, and got approved? 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...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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Aug 7 2020, 01:09 AM
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#12
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3,294 posts Joined: Dec 2005 |
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Aug 17 2020, 11:56 PM
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#13
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3,294 posts Joined: Dec 2005 |
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. Nett nett, IKBR is still cheaper than TSG?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. 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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Aug 18 2020, 10:23 PM
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#14
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3,294 posts Joined: Dec 2005 |
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. I am trying to link my existing IKBR PRO to TSG, but it failed.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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Aug 18 2020, 10:29 PM
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#15
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Senior Member
3,294 posts Joined: Dec 2005 |
Do you guys know is there anyway to change existing IKBR PRO account to TSG?
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Aug 18 2020, 11:50 PM
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#16
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3,294 posts Joined: Dec 2005 |
Anyone using TD Ameritrade, it also $0 fee
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Aug 18 2020, 11:53 PM
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#17
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3,294 posts Joined: Dec 2005 |
I wonder how does this stock broker earn money with charging customer $0 fee?
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Aug 19 2020, 12:03 AM
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#18
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Senior Member
3,294 posts Joined: Dec 2005 |
QUOTE(Yggdrasil @ Aug 18 2020, 11:58 PM) Can stop put your questions into 1 post Does TDA charge the monthly activity fee such as IKBR charge $10 per month?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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Aug 19 2020, 12:14 AM
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#19
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3,294 posts Joined: Dec 2005 |
QUOTE(Yggdrasil @ Aug 19 2020, 12:08 AM) ... I don't have experience with TDA. Why not you check their website? Seems like IKBR does not approve my application with TSG because maybe I already have an existing IKBR PRO accountYou 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? |
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Aug 19 2020, 12:22 AM
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#20
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