Just want to let newbies like me know seems like don't need to fund the account for it to be approved. I've seen some people say need funding but maybe IB changed the rules.
My process: 1) Apply to create account on Sunday, I use IC for identification and drivers license for proof of address, both also uploaded using their mobile scanner. 2) Tuesday approved, 0$ funding so obviously can't trade
Now I want to fund the account but can't find the convert currency option, only have in mobile app. Don't want to download their software cause mafan and using Mac lol I read all the post and also saw someone ask where is the currency conversion but not sure which page is the post already, any sifu here know if their web portal have currency convert option? (ps: I know can use mobile but just asking)
Bros, if you transfer money through InstaRem/Transferwise out of Malaysia, is there a certain threshold before they notify Bank Negara? Another question would be if you withdraw your stock gainz in to sg bank account, is it considered taxable income by LHDN?
Hi Guys seems like my ques got buried so I’ll post again la haha. Im 21 still studying, I know nothing bout tax. But got some funds and already invested and traded stocks.
Wanna know, When investing in US stocks like TSLA or even other countries like China etc Alibaba, do we have to pay tax. If so how & when? Like how do we go abt it? How does it work in Msia?
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😅
Convert usd to sgd in IB, then withdraw from IB to CIMB sg. From there, either you leave money in sg like most users here, or transfer to your MY bank account. Read this page especially post #1103
Time to open an ibkr account. Anyone has a good blog on the deposit methods?
You can read the first few page of this thread or see Ziet Invests youtube videos (just saw his comments and found his youtube).
Most people here including me use Singapore bank account to deposit: Sign up CIMB Malaysia => Sign up CIMB SG => Transfer money from CIMB MY account to CIMB SG account => Deposit SGD to IBKR account => wait few hours/business days to see the money in your IBKR account => Convert SGD to USD in your IBKR account
Withdrawal same thing just reverse the flow: Sell your stocks => convert to SGD in IBKR account => withdraw to your CIMB SG account and wait (forgot how long I think few hours to few business days)
I had a rather different steps compared to the ones shown here, double checked with TSG and they seem to have no idea of the changes for the steps after submitting the delinking form (probably because that's IBKR's job to do afterwards).
My steps are as follow: 1. Request delinking form from TSG - Fill in IB Account Number, Account Titile, Sign, Name, Date (all done electronically on PDF softcopy)
2. Email the signed & filled form back to TSG - They will acknowledge receipt and send it to IBKR on our behalf
3. Few hours later, IBKR sent an email requesting me to perform a verbal verification for the delinking request (must be done verbally, cannot done through email etc.) - Gave me a bunch of international numbers, i choose to called their US ones at: (00) 1 (866) 694-2757 - Proceed to call them, took them 1 minute to connect which is pretty impressive - Proceed to verbal verification, they requested for the following information: a. Reference ticket (from their email) b. Security questions x3 (when we created our account) c. Account title d. Account ID e. Full Name f. Mother's maiden name g. Advisor's name h. Date of birth i. Country of origin
- During the call, i checked with the IBKR customer support and they say that is all I have to do, now just have to wait until the delinking process to be completed - Delinking is processed during weekends, and can take up to 2 weekeneds (though TSG said it can take up to 1 month) - If you have a hard time calling them, you can email them to request for a call back (though you might need some patience)
4. Now I just have to wait and see, no further steps required.
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Not sure if I've missed anything or these are the new procedures, but I will only know after IBKR revert back to me.
Otherwise, for anyone interested, here's my video on this matter:
Hope this helps!
Wah shit, don't remember what I put for Mother's maiden name, I think back then I don't even know the meaning of maiden or did they even ask me...
i edit online, easy piece of cake, just fill up form and email to both parties activity statement will be from IBKR directly
Wow seems like you did not go through as much steps as Ziet Invest. Did they ask you to call them for verbal confirmation? If yes, what time did you call them? Since their timezone is US based
Oh you did not have to do the phone verification ?
I don't even remember my security questions. Anyone knows how to find the security questions in the web ? I cannot find them in the User Settings.
I also can't find the security questions anywhere on IBKR but luckily I took picture of my questions with my phone when I sign up last time. Hope you manage to find your questions somewhere bro
I'm very impressed by the speed, I submitted account opening application today morning & just recently got approval ! Now pending CIMB Singapore linkage then good to go ^ ^
Wow looks like IBKR wants to destroy the competition
Anybody tried Gotrade? Seems like they also have fractional shares trading. How does it compare to IBKR? I downloaded few weeks ago but didn't use, not sure the company stable or not
What is the email that you guys send to TSG to request delink? Or you all open ticket? The ticket requires account number, is this IBKR account number?
July 14th: Start emailing TSG and IBKD the delink form, also pulled ticket on IB's web portal. July 15th: IB reply on web portal they need ne to refer back to TSG around afternoon, IB's email auto-reply that my email looks like "spam" around night time (MY time) July 16th: Email TSG via email in the morning to request them to help forward de-link form to IB, in subsequent email they request passport copy as well. By night time, around 8 p.m. (My time), I receive verbal verification request from IB. Shortly after receiving the verbal verification request, I call them via Skype (US toll free number) Verification done on the same day. July 21th: Start seeing IBKR pro logo appearing on my TWS desktop in the morning, refer friend and get 200 + IBKR pro logo appear on web portal, able to choose fixed/tier pricing, default is on fixed pricing. Notice commission dropped compared to TSG. Have not executed any trade yet. July 22nd: Jul 21th report still shows linked to TSG (master name). July 23rd: July 22nd report still shows liked to TSG (master name). July 24th: July 22nd report finally showed linkage with IB (no more "master name" column), not sure why it is not July 23rd's report, but it is unavailable at the moment, perhaps only updated in the afternoon.
Interesting, mine just changed as well. The only thing is I haven't call them for verbal verification yet even though they requested me to do so, but I can see the pro logo and "Refer a friend", account type also changed to "Individual" in the activity statement.
Oh this is funny. I think you better perform the verbal verification as requested and don't assume that you can "bypass" that step. Otherwise don't know what might happen to your account in the future. Don't take unnecessary risk. Skype call to US toll-free is free of charge after all, just need to spend some time.
Yep agree, but they are closed now, will call them on Monday.
Jul 1 2020, 10:42 PM
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