Guys how do we go about withdrawing funds from IB to CIMB? Do I need to convert back USD to SGD then transfer to CIMB Sg?

Or do I just withdraw straight in USD without currency exchange to CIMB SG?

Also, can withdraw directly into CIMB MY? How do I go abt this , someone help😅

no..  CIMB SG has very good rates for SGD > MYR  provided it is to your own linked CIMB MY account.

So
- use IB to convert back to SGD at spot rate first,
- do SG fund withdrawal to ur CIMB SG
- do SGD > MYR transfer using CIMB Clicks SG from your CIMB SG to your CIMB MY

have not compared but CIMB SG / Fintech should be better than your original TT USD back to Malaysia advice

you mean, to link your IBKR to TSG???

the instructions are available on TSG website, although not all IBKR can be linked to TSG.

Never tried before but very likely can!

Just send them a message via the client portal....!!

Hi all,

I read the first post already, need some help here.

1. I am not a a frequent trader, so i cant maintain min 10USD brokerage fees monthly, the the only viable way is to register Tradestation and deposit min 2K USD( i checked website it is no longer 1k)?

2. Tradestation only allow trading after live data enable? How much should I pay for live data for NYSE and NASDAQ?

Hi all sifus...

I am new to IB.

I have opened an account & tried my first funding in a small amount about SGD 300. I set my currency base to HKD.

Now, I tried to do my first conversion from SGD to USD because I plan to invest in the NYSE stock. When I try the conversion, this is the message I get:-

THERE IS INSUFFICIENT CASH IN YOUR ACCOUNT TO OBTAIN THE DESIRED POSITION.

I've checked and confirmed the value I convert was just about SGD 200, which is less than my SGD300. Anyone can advise on this issue?

Thanks.

will this create a virtual position on FX like idealpro?

pdt rule doesn't apply to cash account... also you can't rollover the same cash fast enough > 3x within 5-day period

Wait so is there pdt for cash account ? Or does it not apply to IB?

Should apply to cash account too based on the definition of PDT on their website. You can try and let us know.

One pure IB margin user told me his account got flagged even though it's margin. Another user said their account (I presume it's cash) got flagged so they are trying to look for alternatives like TradeZero to day trade since they don't have a lot.

The following calculations apply only to Margin, IRA Margin and Cash or IRA Cash. See our Portfolio Margin section for US Options requirements in a Portfolio Margin account.

FINRA and the NYSE have imposed rules to limit small investor day trading. Customers that these organizations classify as Pattern Day Traders are subject to special Day Trading Restrictions for U.S. and non-U.S. securities.

The following table shows stock margin requirements for initial (at the time of trade), maintenance (when holding positions), and Overnight Reg T (Regulatory End of Day Requirement) time periods.

Base currency is not important. It's just how your statements will look like. Sort of like a presentation currency.

You need to pay interest. You overdrawn USD and will be charged based on US margin rate. Interest continue to be charged until your USD negative balance is covered.

wow interested in foreign stock already ?

does this concept apply to direct withdrawal from ibkr (in USD) to m'sian banks (in MYR after conversion using bank's rate)?

assuming the account holder for both ibkr and the bank is the same person/name

Err... Action is not allowed.

Hi I just opened an IBKR account, and made my first SGD funds transfer through Transferwise. I just thought of something. How does Interactive Brokers know that the funds received from Transferwise is for my IBKR account?

When using Transferwise, I only needed to key in IBKR account number and bank name as transfer details. It didn't ask me to key in the any identifying number that would route the funds to my IBKR account ie. payment reference etc.

Any thoughts?

The bank account number listed above is a virtual account number (VAN) assigned specifically to you. Use it exclusively for deposits initiated by yourself and do not share it with anyone else.

IBKR replied me but I can't read the message. I logged into IBKR and can't even receive any notification from the message center.



If I click on the Message Center link provided in the email, upon login, I was shown the following instead:

Im the only one having the same case as you. You need to email TSG support team(raise ticket in TSG website), IBKR dont deal with your ticket(also you cant open the message center).

You --> TSG --->IBKR
You <-- TSG <-- IBKR

Its a quite fked up but nth you can do about it. =)

you guys best make sure got ID all set up properly first oh... later wanna withdraw get in trouble no ID for them to verify gg ah... lol

TSG told me min is 1k usd, meaning i put in 1k usd and withdraw? then deposit again if the withdrawal sucessful?