See above post. It's easy to apply as long as you already have CIMB MY, otherwise its one extra step but worth the efforts.

Having said that, you don't need it if you don't plan to withdraw and is OK with the idea of funding IBKR via transferwise / etc. (just have to provide proof of money trail from your bank statements in case if they hold your transfer)

Yes, I do. BIL ETF is the preferred one due to its high liquidity, though cost-wise it's not the best.

It works like this:

1. ETF buy US T-bills/T-notes/T-bonds with your money (either from primary market or secondary market).
2. US Treasury will refund the ETF the "discount".
3. Upon maturity 1-3 months later, the principal is returned to you as well.
4. The ETF will rollover the money by reinvesting the "discount" and principal into future/other issuance of T-bills/T-notes/T-bonds with maturities of 1-3 months.

The chart is confusing because the ETF makes a monthly distribution/"dividends" to ETF holders, so on ex-date, the new ETF holders are not entitled to the said distributions, and so the unit price will decline accordingly. But cash-flow wise, you get a return close to what a risk-free 1-3 month T-bill offers you.

It's the IRR which matters to you eventually.

james.6831 malaysians cannot buy from IBKR