Q: can we transfer IBKR ( USD > SGD) to CIMB SG to CIMB MY?
u mean withdraw IBKR funds? yes u need to sold ur said US equity to USD, then convert in IBKR to SGD, then withdraw to SGD in CIMB SG, then transfer back to MYR in CIMB MY, CIMB SG to CIMB MY rate is decent so far, but not CIMB MY-> CIMB SG

IBKR charges monthly fee of $10.
Q: What is whitelabel? what is the use of tradestation Global if TSG & IBKR sharing the same system?
google introducing broker, introducing broker to IBKR, it involve the business model of whitelabel of one business entity.
it is like asking what is the use of hotel if got agoda, airbnb.

Can. I did it personally myself.
Whitelabels (e.g. TSG) is like an agent that seeks out customers for IBKR.
They might offer different fees targeted at smaller investors.

They profit by:

1) Enjoying rebates/discounts from IBKR
E.g. you only execute 1 trade per month. If your account is under IBKR, it's the usual flat fee per trade.
But if you register under TSG, your account and other people's account may be aggregated and so TSG pay less while charging you the usual rate.
However, they pass on this benefit to you like waiving the monthly $10.

2) Charging you a premium
E.g. when use margin on TSG, TSG charges you IBKR's rate +2.5%
So, TSG profits from the 2.5% premium should you need to use margin.

Need full amount before you can buy.
It's T+2 for most exchanges.

No need. USD is automatically rejected unless you got US bank account.

did you at least initiate a deposit notification on the client portal?

Yup. Wait a few days to get your money back.

Do i need to inform transwire or it will automatically refund back to me?

I will need to use other currency like SGD and transfer to IBKR.. do conversion to USD within the platform right?

Just wondering, why you transferring USD 23 so little? Isn't the wire fee already very expensive? Or am i missing anything here

Thanks!

Only one way to explain it - they rounded up. Look at trade reports or TWS for decimal numbers



Exact same stock I showed yesterday in TWS appears different (summarized) in Web. interesting, didn't realise this too
You can't transfer USD directly into IBKR via 3rd party funds I believe. Some forummers tried it in the past (can search).

If go that route, just do direct EUR / HKD / SGD / GBP fund into your IBKR account via transferwise. Do keep bank statements in the event they ask you to prove money trail.

Oh nice! Was it quite straightforward to do the transfer?

I think last time they used to have ACT and some other acronyms transfer options. Now there is only a bank wire for all TT.

Is this still true for USD deposit? Has anyone had successful USD deposit in large amount using TW?

What was the largest amount you've transferred this way or seen other people transferred?