1. For USD withdrawal from IBKR via Wise:



SGD withdrawal should follow a similar route.

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2. Unfortunately, dealing with estate matters internationally is pretty cumbersome. Here is a recent info (as of Dec 2022) which explains the estate transfer matters:

https://forum.mustachianpost.com/t/interact...e-of-death/9441

A few advices:

- Open a joint account when you are old and transfer existing assets into the new joint account so that when you are not around the other account holder still have access to the assets.

- Add a Trusted Contact Party (TCP) so that IBKR can call him/her when they lose contact with you for quite some time.

- At the very least, inform your loved/trusted ones you have an international brokerage account at IBKR so that they know you have assets overseas. Ask them to contact IBKR when you are not around (or better still, if they already have opened an account at IBKR, a joint-account would help simplify matters).

- The estate transfer process may differ depending on which jurisdiction you open your account with (US/UK/SG/HK/AU etc.).

I do have to let you know that IBKR is doing "limited prop trading", which is unlike most other brokers (including TD Ameritrade).

TD Ameritrade (which promises you 0 commission etc.) route your orders to market makers like Citadel, Virtu etc. Citadel/Virtu and others are taking position against you, not TD Ameritrade.

But this is not the case with IBKR. IBKR may match your orders with other IBKR clients (which is still reasonable), or they may simply take positions against you (e.g., you submit buy order, IBKR sell to you...)

So, IBKR is no longer purely a broker, it's a prop trader, and it's trading against you.

Cheap things come at a price. There is no free lunch in the world of finance.

Just for your info.

Competitive as in? Yes, it's cheap, judging by fees. But you cannot just look at pricing alone. Again, no free lunch. It's cheap because they make money from you in another way: the fact that they can trade against you.

You gain on one hand, you lose on the other.
Of course, to answer Ramjade as well, for long-term investors, the fact that they trade against you won't affect your long-term returns if you are a buy-and-hold investors. But prop trading introduces unnecessary risks. IBKR is not just facilitating the game, it's playing it. Your "broker" could have just charged a fixed commission and earn from both buyer/seller in a typical stock/options trade.

But now, because of greed, they venture further. If they make money by fronting your trade, for instance, the broker will survive, but if they take opposite bets against you and the market sentiment turns yet they have positions which they could not unwind in a short period of time, they will fail. (Then of course, you will claim SIPC can step in... ok this moral hazard part... I cannot argue...)

In short, prop trading destabilizes the broker's finances. You make money in a bull market, like everyone does. When tail risk sets in, it's whole another story. (Citadel, Virtu etc., being market makers, are a different beast.)

I am not saying that there are serious problems with IBKR, but as its users, you gotta know what's going on behind the scene.

It's good to have a second brokerage account to standby, just in case. E.g., I have DBS Vickers + FSM SG, both linked to my CDP account in Spore. Those who can't open a CDP account can have open other brokerage accounts to standby.

Just transfer over to interactive broker.

It's all online
https://www.ibkrguides.com/clientportal/tra...cattransfer.htm