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 Interactive Brokers (IBKR), IBKR users, welcome!

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phantommvp
post Apr 1 2020, 01:30 PM

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Hi guys, if I have access to foreign ccy accounts here in Malaysia, with good exchange rate (not the ridic board rate bank charges), how would you suggest I fund my IB account? Direct TT from my FCY account here to IB? And for withdrawal can I do the same ie TT back from IB to my FCY account here?
And how much will the TT charges be if thats the case, barring any fx conversion fee.
phantommvp
post Mar 18 2021, 05:22 PM

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QUOTE(thxxht @ Mar 17 2021, 09:37 AM)
I use instarem to convert MYR to SGD then transfer to the IBKR Singapore account but it can be iffy sometimes, i have one (1) transaction missing / unmatched so far and it's a pain in the ass to get IBKR to solve it. After that I only use sg bank account to fund IBKR :/

It is best/safer to use your own singapore bank account and wire the money over. You can still use instarem or transferwise to wire money over to your own sg bank account, it's cheaper than using local bank's TT.
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May i know how do u solve the unmatched funding? I am having the same issue currently after IBKR changed their SGD account from Citi to HSBC. Is your account with IBKR direct or with Tradestation International?

 

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