If we are using whitelabel such as TradeStation, will whitelabel or Interactive Brokers charge us inactivity fees, if we do not perform minimum number of share transactions (less than $20 of monthly commissions) every single month?

Thank you for your respective replies, dwRK and Ramjade.

For common people like us, Whitelabels suits us well. No inactivity fees and the requirement to perform minimum number of share transactions every single month.

This is just my opinion, and I could be wrong. But, I did transfer some money to my Singapore savings account, without any issue, and it should work.

From Instarem Malaysia's point of view, you are a "Singaporean staying in Singapore", who owns CIMB Singapore FastSaver savings account under your name. So, just choose Singapore, as the country of residence of the recipient, and it should work.


I am wondering whether we, as Malaysians, can open Instarem Singapore account, so that we can send SGD, to our savings account in other countries (other than Malaysia and Singapore).

Let's assume that a Malaysian already has a Instarem Malaysia account, is working and staying (renting a room) in Singapore, with employment pass.

With the employment pass and an address in Singapore, can this Malaysian open Instarem Singapore account? In other words, Instarem Malaysia account and Instarem Singapore account coexist under the same person.

This post has been edited by kart: Dec 11 2019, 09:40 AM

So, a Malaysian with Singapore employment pass can register an Instarem Singapore account, using another e-mail address. During Instarem Singapore account registration, that Malaysian can submit a photocopy of Singapore employment pass, to be verified by Instarem Singapore, right? That is good.

Yeah, I am same as you, and are not working in Singapore. However, it is good to know how to register for an Instarem Singapore account, in order to transfer SGD to savings accounts in other countries.


Then again, Instarem should be aware that we Malaysians cannot use Instarem Malaysia account, to transfer SGD.

Back to my example, the person is a Malaysian citizen, so the person is qualified to have an Instarem Malaysia account. And, this person is working in Singapore. So, with Singapore employment pass and Singapore address, this person is also eligible to get an Instarem Singapore account.

Having an Instarem Singapore account is needed to transfer SGD.

Otherwise, without Instarem Singapore account, how can a Malaysian working in Singapore transfer SGD? For this example, let's assume that we do not use Transferwise. Let's try to get everything done, within Instarem.

Instarem PTE Limited (the holding company of InstaReM subsidiaries such as Instarem Malaysia and Instarem Singapore) should give Malaysians the ability to transfer MYR and SGD, within single unified Instarem account, provided that these Malaysians have the necessary identifications in both countries. The same goes for any nationalities who have identifications in two countries.

This single unified Instarem account can be used either as Instarem Malaysia account, or as a Instarem Singapore account.

This post has been edited by kart: Dec 11 2019, 04:43 PM

I understand your point on the restriction imposed by Instarem, Ramjade.

Yes, I do have TransferWise account.

That example I am using is just a hypothetical scenario.

Yeah, I just heed your advice. I should compare the conversion rate from SGD to MYR, between TransferWise and CIMB Singapore, and choose the cheapest rate.

Also, I do have the same thinking as you. Whatever MYR converted to SGD are meant only for investment in share market, and should stay in Singapore. I try not to convert SGD back to MYR.

I have one question to ask, regarding opening a trading account in TradeStation Global.


After filling in the details in https://www.tradestation-international.com/...unt-new-client/, the website was then redirected to https://www.interactivebrokers.com.au/.

After completing account application in Interactive Broker website, the website mentioned about funding my account, but I chose not to fund my account until my account is approved.

My question: where should I upload image of my identification card, bank statement and my pay slip? I did not encounter an upload box in Interactive Broker website.

Thank you for your advice.

This post has been edited by kart: Mar 23 2020, 11:50 PM

Interactive Brokers wants me to perform initial funding, before approving my trading account, as seen in the first screenshot. Alright, I am ok with that.


In the second screenshot (for creating a bank wire deposit for initial deposit),

a) If I transfer fund from my Maybank Singapore iSavvy Savings account, can I type 'Maybank Singapore Limited' (without quotation marks) in Sending Institution?


b) Can I type any name, in Nickname? It should be similar to the nickname in Favourite Recipient for Instant Transfer in Malaysian internet banking website, right?


c) Can I transfer SGD 1500 as the initial deposit, via FAST transfer to Singapore bank account of Interactive Brokers? If I am not mistaken, only USD 1000 (about SGD 1430) is required.


Thank you for your advice.








This post has been edited by kart: Mar 29 2020, 10:43 PM

I applied via Tradestation Global website, and currently my trading account application is currently under processing by Interactive Brokers.


Recently, Oscar Vogt, a TradeStation Global Support Rep <globalsupport@tradestation-international.com>, sent an e-mail to me, requesting for my ID.


From my understanding, I believe that I should give my supporting documents to only Interactive Brokers, in Interactive Brokers website.


My question: Do I also need to give my supporting documents, to Tradestation Global?

Thank you for your information.

Ok, you first uploaded the supporting documents to Tradestation Global, but you uploaded the same supporting documents to Interactive Brokers, right?


I thought that once Interactive Brokers approves the account application, Tradestation Global will rely on the account verification process done by Interactive Brokers and will not request supporting documents again from us. Then again, I could be wrong.


As requested by Interactive Brokers in Interactive Brokers website, I performed initial deposit to my trading account. I am now waiting for the upload button to appear in Interactive Brokers website, so that I can upload the supporting documents in Interactive Brokers website.

Ok, you suggest double uploading. Thanks for sharing your opinion.


As explained by Ramjade, it belongs to TradeStation Global.

I am in the same situation. Well, I performed initial deposit to my trading account. Right now, I am waiting for the upload button to appear in Interactive Brokers website, so that I can upload the supporting documents in Interactive Brokers website.

This post has been edited by kart: Apr 5 2020, 08:09 AM

Did I make a correct choice of selecting non-professional, in Market Data Subscriber Status?

I want to avoid unnecessary fee being charged.

Thank you for your advice.

Thank you for your confirmation, dwRK.

Other than market data, what settings should I choose in Interactive Brokers, to prevent unnecessary fees being charged?

Sorry, I am still quite new in using Interactive Brokers. The amount of settings in Interactive Brokers can be quite overwhelming for beginners.

Thank you for your information.

Thank you, moosset, Investor12 and Ramjade.

I understand that for TradeStation Global, the commission for trading stock is fixed. For example, for SGX, the commission for SGD-denominated stocks is 0.12% of trade value, or a minimum of SGD 3.75.

My point is that, a beginner like me may have accidentally activate some add-on services, such as market data, which is not free. I may have wrongly assumed that these add-on services may be free.

I just want to make sure that I do not accidentally activate these add-on services.

This post has been edited by kart: Apr 13 2020, 10:11 PM

Which USD 1000 balance is that? The total value of shares held via TradeStation Global, or amount of cash kept in trading account?

I could be wrong, but I checked through https://www.tradestation-international.com/...ng-commissions/ and this website does not mention about the requirement to have USD 1000 balance.

Thank you very much for your clarification, moosset.

This post has been edited by kart: Apr 18 2020, 02:28 PM

Thank you very much for sharing the source of the USD 1000 requirement.

If the total value of shares held via TradeStation Global is more than USD 1000 but no cash is kept in trading account, there should not be USD 1 minimum activity fee being charged, right?

A few days after I sent an inquiry via message inbox in IBKR login website, I received the following reply from IBKR:




Sigh, it seems that being a customer of Whitelabels such as TradeStation Global will deny us the customer support from IBKR.

I would prefer getting clarification from IBKR, rather than TSG, because the reply from IBKR should be more accurate.

Last time when you sent inquires to IBKR, IBKR did reply directly to you, via the message inbox, right?

Recently, that is no longer the case.

Which documents did you submit via e-mail to IBKR?

Hi, polarzbearz. Your blog is definitely very informative. Thank you for investing the effort in writing the blog.

In your post that I quote, when you said that you moved your foreign fund (most likely with net gain), do you mean that you applied to transfer your shraes from your brokerage in Hong Kong to IBKR (TSG), or just sell and then purchase your shares again?

From your second sentence, you mention that you cannot perform the procedure to transfer the share, since we are not allowed to leave Malaysia.

I am just curious on the procedure required to transfer our share holding from one brokerage to IBKR (TSG), and the associated fees.

Thank you for your information.

For those opened IBKR trading account via Tradestation Global last time with minimum deposit of USD 1000 or equivalent, are those customers now required to maintain the net liquidation value in their trading account (share value and cash) at least USD 2500 or equivalent, instead of just USD 1000 or equivalent?