Interactive Brokers (IBKR), IBKR users, welcome!
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 Nov 19 2019, 01:21 PM
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#1
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Junior Member
86 posts Joined: Jun 2012 
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Just went through TradeStation Global account application.
Two questions that would need clarification:- 1. May I know if we need to wait until approved status then only can perform funding?  2. What're the options to fund the TSG account? Let say primarily to invest in NYSE. From thread reading here, seems like Instarem is the lowest cost choice ?  This post has been edited by nbafans99: Nov 19 2019, 01:40 PM |
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Nov 21 2019, 12:25 AM
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#2
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Junior Member
86 posts Joined: Jun 2012
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QUOTE(Ramjade @ Nov 19 2019, 02:01 PM) 1. You need to fund it then only your account will be approved. Amount to fund = USD5k or equivalent in other currency. 2. Yes instarem is the cheapest but you cannot fund it in USD. So far only Eur works. Of course if you want to give free money to your banks by doing TT, it will also work. Expect a cut of about 3-5% that the bank will take. Free money for the banks.    For TSG, the minimum would be USD 1,000 right? Just to double confirm so no need transfer multiple times  QUOTE instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD/HKD)   Because it's first time using instarem here, do you mind to help me review some of the input here? Especially on the SWIFT code = CIBBSGSGXXX, payment method = FPX and the transaction fee of RM 22.50 (Is this fixed for every single transfer?) Next screen would prompt me to login bank FPX page? |
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Nov 21 2019, 12:31 AM
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#3
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Junior Member
86 posts Joined: Jun 2012
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QUOTE(moosset @ Nov 19 2019, 08:07 PM) I haven't tried with SGD, but InstaRem MYR > HKD > IBKR works! By going through HKD means we need to open a HKD account somewhere ? Sorry, newbie here.  |
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Nov 22 2019, 08:36 PM
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#4
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Junior Member
86 posts Joined: Jun 2012
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QUOTE(moosset @ Nov 21 2019, 03:23 PM) the acc is approved but to activate it, you need to fund it with 1k USD (tradestation global). I'm not sure about IBKR. Because it's first time using instarem here, do you mind to help me review some of the input here? Especially on the SWIFT code = CIBBSGSGXXX, payment method = FPX and the transaction fee of RM 22.50 (Is this fixed for every single transfer?) Next screen would prompt me to login bank FPX page? |
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Nov 22 2019, 08:39 PM
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#5
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Junior Member
86 posts Joined: Jun 2012
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QUOTE instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD) QUOTE(moosset @ Nov 21 2019, 10:05 AM) use instaRem, MYR > HKD. IBKR accepts HKD Which one do you think is better if eventually I want to invest in US stocks?This post has been edited by nbafans99: Nov 22 2019, 08:39 PM |
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Nov 22 2019, 10:15 PM
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#6
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Junior Member
86 posts Joined: Jun 2012
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QUOTE(moosset @ Nov 22 2019, 09:21 PM) I think it's correct, as long as you follow all the details provided by IBKR and add your reference in the note. The above is actually to send money from instaren to my CIMB SGD account.yeah, next page is FPX. doesn't matter, really. QUOTE instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert SGD to USD) You mean we can direct use this way? QUOTE instarem(MYR) If yes, I suppose it's easier and cheaper? Since there is one less leg to transfer from CIMB to IBKR? Sorry for the on-going questions. am trying to learn from sifu here.This post has been edited by nbafans99: Nov 22 2019, 10:16 PM |
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Dec 14 2019, 11:01 PM
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#7
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Junior Member
86 posts Joined: Jun 2012
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Normally how long would it take to get TSG account approved ya?
My application and my funding was done around 28 Nov, until now it's pending status... |
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Dec 15 2019, 04:33 PM
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#8
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Junior Member
86 posts Joined: Jun 2012
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QUOTE(Ramjade @ Dec 15 2019, 12:17 AM) Did you fund it? Yes funded. Via instarem -> CIMB (SG) -> FAST to TSG Citibank NA accountIf yes how did you fund it? Local transfer or TT? |
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Dec 15 2019, 07:29 PM
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#9
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Junior Member
86 posts Joined: Jun 2012
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QUOTE(Yggdrasil @ Dec 15 2019, 05:04 PM) Check your email. Sometimes they need more documents from you like payslip. Just dropped an email to them..Hopefully no problem  |
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Dec 15 2019, 08:56 PM
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#10
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Junior Member
86 posts Joined: Jun 2012
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QUOTE(Yggdrasil @ Dec 15 2019, 07:36 PM) How much did you put in btw? I think if you do not put in enough, your account will not be activated. Not mistaken you need $500 or something. Have you tried buying any stock? 5k MYR so...approx 1k+ USD...Nope, because the application status still = pending  This post has been edited by nbafans99: Dec 15 2019, 09:06 PM |
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Feb 7 2020, 07:08 PM
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#11
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Junior Member
86 posts Joined: Jun 2012
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Two quick Q here.
1. May I know how can we exchange SGD in IB into USD please? 2. For those open account via TSG, do you use IB app or TSG app for trading and why? This post has been edited by nbafans99: Feb 7 2020, 07:09 PM |
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