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 Interactive Brokers (IBKR), IBKR users, welcome!

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evangelion
post Dec 25 2021, 11:01 AM

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QUOTE(Hansel @ Dec 15 2021, 02:04 PM)
I'm also like you, bro,... my AUDJPY pair went up and down and I forgot abt it. And I kept paying interest on the JPY margin loans but not earning anything from the AUD loans.
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IBKR has forex? I look at their page don't have much information on currency forex pairing......or are you using their forex CFD?? confused.gif
Can enlighten me abit...
Do they have forex calculator like Oanda?

Arigato notworthy.gif
evangelion
post Dec 25 2021, 11:04 AM

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QUOTE(Davidtcf @ Dec 24 2021, 04:25 PM)
Ya can.. Refer to Ziet's video.

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Ziet had uploaded latest video on withdrawing from IBKR to Wise. If transfer above USD2k this method is cheaper. Else use the usual SG CIMB method but need wait longer time to get funds for that:

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Why not straight from CIMB MY -> CIMB SG -> IBKR , this i think maybe quite cost competitive also.......has anyone compare this way vs wise?? hmm.gif

This post has been edited by evangelion: Dec 25 2021, 11:04 AM
evangelion
post Dec 25 2021, 11:30 AM

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QUOTE(TOS @ Dec 25 2021, 11:11 AM)
Because in the past this method involves 2 forex charges, first from MYR to SGD (Wise's charges), then from SGD to USD (IBKR's charges).

Now it seems Ziet and David have found that you can directly transfer from MYR straight into USD using Wise, but in the past this method has attracted attention from IB's legal compliance staffs. Now wait for the sifus to sort things out.
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Sorry, i missed some details........
CIMB MY (MYR) -> CIMB SG (SGD) -> IBKR (SGD) -> IBKR (USD)
overall how much of cost advantage doing this way vs the Ziet way? If it's under 0.2% difference (for example), some user might just accept it for varies reasons. Or as a alternative cost effective route if the Ziet's WISE way got highly restricted.
If its under 0.2% difference (for example), some might just op for this route..........of course if it turns out to be 0.5% or more, some will just avoid entirely

This post has been edited by evangelion: Dec 25 2021, 11:32 AM
evangelion
post Dec 25 2021, 11:37 AM

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QUOTE(TOS @ Dec 25 2021, 11:14 AM)
Yes, there are many currency conversions available. IBKR's forex conversion are done with currency pairs, like "USD.SGD", "USD.HKD" for example.

You buy or sell the currency pair to achieve conversion. 

https://www.interactivebrokers.com/en/index.php?f=47638
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Thanks for the reply.. notworthy.gif
But i notice, it's a direct conversion of 1:1, how about leverage feature for forex? confused.gif
evangelion
post Dec 25 2021, 02:29 PM

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QUOTE(Ramjade @ Dec 25 2021, 01:16 PM)
Yes got Forex. But each trade/conversion cost usd2.00.
How about leverage, like most forex provide?

QUOTE(Ramjade @ Dec 25 2021, 01:16 PM)
Do not use cimb my -> cimb sg. Use fintech Sunway money, bigpay.
Cimb my -> Sunway money, bigpay -> cimb sg.
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From your experience, comparing CIMB MY (MYR) -> CIMB SG (SGD) -> IBKR (SGD) to your fintech way, how much difference are we look at? You get 0.1% or 0.2% exchange more at certain amount for fintech route?

Arigato notworthy.gif

This post has been edited by evangelion: Dec 25 2021, 02:29 PM
evangelion
post Dec 25 2021, 05:48 PM

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QUOTE(Davidtcf @ Dec 25 2021, 04:20 PM)
not cheap.. Ziet already did comparison between transferring from traditional SG CIMB method vs Wise method. Jump direct here:
https://youtu.be/dJYzHEnBhJs?t=449
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The conversion medium he used for both examples are using Wise. What i meant was using cimb(MY) to cimb(SG) as conversion medium. Wise most likely to be the most cost effective, however, my argument is "how much more cost effective" when comparing using cimb(MY) to cimb(SG) as medium. As it seems that cimb(MY) to cimb(SG) gives a competitive as well. If its just a 0.1 or 0.2% difference, some users might find this more fitting to their uses or reasons.
evangelion
post Mar 2 2022, 02:30 PM

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Since you guys using ibkr (US), can you guys buy Singapore sgx listed shares?

Tyvm
evangelion
post Mar 24 2022, 07:24 PM

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Just wondering, any of you able to buy russia stocks? confused.gif

This post has been edited by evangelion: Mar 24 2022, 07:24 PM
evangelion
post Mar 24 2022, 09:40 PM

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QUOTE(dwRK @ Mar 24 2022, 07:38 PM)
russian market suspended
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I heard they just re-opened......or maybe foreign access denied due to sanction?
evangelion
post Jul 8 2023, 11:52 AM

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My mistake sweat.gif

This post has been edited by evangelion: Jul 8 2023, 12:46 PM
evangelion
post Oct 14 2023, 06:51 PM

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QUOTE(abcn1n @ Oct 14 2023, 05:50 PM)
Thanks. Luckily mine is with IB LLC.  thumbup.gif
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Bro, can share why its better?
And how did u manage to get LLC version?

Thnx notworthy.gif
evangelion
post Nov 18 2023, 10:27 PM

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Just wondering/asking, you guys use driving license or IC to register? Usually take how long…… sweat.gif not scare giving out IC? sweat.gif

This post has been edited by evangelion: Nov 18 2023, 10:29 PM
evangelion
post Nov 20 2023, 09:36 AM

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QUOTE(Medufsaid @ Nov 19 2023, 08:51 AM)
evangelion wat's your concern? Even if u use rakuten, they still require IC. Guess what, rakuten uses ibkr to trade your us stocks
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QUOTE(!@#$%^ @ Nov 19 2023, 10:58 AM)
i will be, if i have 8 or 9 digit assets
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QUOTE(Ramjade @ Nov 19 2023, 04:27 PM)
I trust them more than Malaysian banks. Lol.
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Ayam scare, becos i got a close call last time....... sweat.gif
So I guess u all of you used IC? Any reason why didn't use driving license?
evangelion
post Nov 22 2023, 11:24 AM

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QUOTE(xiaojohn @ Nov 21 2023, 09:27 PM)
MyKAD is your only Identify document.....if you are not giving your ID, you want to register the account under who's name?
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I believe can register via a few types….ic, passport and driving license….correct me if I’m wrong… sweat.gif

 

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