is it a good idea for malaysian use transfer MYR via Wise to IBKR, convert to US and just sit there n get interest (USD) from IBKR?
Interactive Brokers (IBKR), IBKR users, welcome!
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 Jan 8 2024, 12:11 AM
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504 posts Joined: Jul 2015 
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Jan 10 2024, 06:32 PM
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#2
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504 posts Joined: Jul 2015
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QUOTE(Ramjade @ Jan 8 2024, 06:12 AM) No. Wise lousy rates. Better use rhb multi currency acocunt. I do have other investments that give me good yields, with higher risks of course. Thinking to set a portion for risk-free investments, preferably not in MYR/malaysian brokerage a/c.Secondly very stupid to hold USD in cash especially now interest rate coming down which mean going forward in the future, you won't get 4.x% (effective interest as first Usd10k no interest). Invest it and you can get 5%p.a eventually.  |
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Jan 10 2024, 06:34 PM
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QUOTE(watzisname @ Jan 10 2024, 06:09 PM) Not everyone is 100% invested 100% of the time. For those of us that have cash portion in our asset allocation can park in t bills For cash portion (assuming am mostly in MYR in savings acc now) - do u think its good idea to move some of it to Interactive Brokers (USD) and keep it as cash (receive the 4.8%) and/or park in t bills? any other better options? |
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Jan 10 2024, 06:44 PM
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#4
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QUOTE(Ramjade @ Jan 10 2024, 06:36 PM) Go get yourself a tiger account and put your money in mmf. Can get 5%+. Of course not for long once US fed start cutting interest rate. is the best way - open a Maybank (Singapore Account) - link to Tiger Broker, transferred RM to Maybank Singapore, and fund Tiger Broker acc? |
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Jan 14 2024, 06:46 PM
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Hi guys, if i have capital in my malaysian brokerage a/c - thinking to diversify - as in holding less MYR, also diversify globally - is transfer to IBKR a good option?
May go for safer investment, or hold cash in these brokerage. Thinking bout Tiger Brokers too. Can keep in USD/SGD, but seems like holding USD gives interest, which SGD gives minimal. Love to get opinions. |
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Jan 16 2024, 02:38 PM
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#6
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nobody uses tiger brokers ah? seems user friendly compared to ibkr
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Apr 20 2025, 08:18 PM
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#7
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504 posts Joined: Jul 2015
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hows ibkr vs tiger brokers?
if deposit huge fund into ibkr, do they request for proof of funds? |
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Jul 3 2025, 12:26 PM
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#8
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QUOTE(swiss228 @ Jul 3 2025, 10:56 AM) Hi. Recently I updated some settings on my IBKR account, and was asked to give my Mysian tax no to them, as well as uploading documents like ic and proof of address. Just want to know you whether we can refuse to submit our tax no to them? Hi, is there anyone deposited too much $ into IBKR n they asked for proof of income/source of funds? |
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Jul 4 2025, 08:42 PM
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#9
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504 posts Joined: Jul 2015
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Hi, for malaysian created account in IBKR, its all IBKR in US not other countries right?
which means not under CRS. |
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Jul 7 2025, 07:30 PM
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#10
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504 posts Joined: Jul 2015
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QUOTE(hedfi @ Jul 7 2025, 07:28 PM) I transferred USD from IBKR to Moomoo and iirc it was free both sides. IBKR one free transfer a month i thought for brokers, they only accept BANK under your name for $ transfer |
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Jul 8 2025, 03:33 PM
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#11
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take note that all your USD or any currencies in IBKR, is subjected to 40% estate tax including cash if touch wood anything happens on you
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Jul 10 2025, 01:41 AM
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#12
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504 posts Joined: Jul 2015
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QUOTE(tadashi987 @ Jul 10 2025, 01:09 AM) not subjected to 30% withholding tax? better buy irish domiciled funds. US all subject to huge withholding. tax including cashanyway we need to pay the fee to buy $BIL right? wouldn't it better to buy no fee USD cash funds on IBKR? e.g. I440622629 BNP PARIBAS USD MONEY MARKET "C" (USD) ACC ALLFUNDS 00BK71CK9 BARINGS USD LIQUIDITY "A1" (USD) ACC ALLFUNDS I used these as my 'USD cash park facility' since no transaction fee charged in buying or selling, but of course the turnaround time is longer because they are mutual funds |
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