Interactive Brokers (IBKR), IBKR users, welcome!
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 Apr 22 2020, 04:51 PM
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#1
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Junior Member
341 posts Joined: Mar 2008 
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Hi guys,
may i know if TSG has a mobile platform as well? And if transfer to cimb sg (then to usd in IBKR) is the cheapest way? wondering if i could skip cimb sg and proceed straight with either transferwise or instarem. if yes which currency will be best? and do i still need to transfer to usd in IBKR after that? |
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Apr 22 2020, 05:12 PM
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#2
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Junior Member
341 posts Joined: Mar 2008
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QUOTE(Gwynbleidd @ Apr 22 2020, 04:56 PM) 1. Yes, use the IBKR Mobile app. thanks Madman and Gwynbleidd for your prompt reply.2. Not sure if it's the cheapest. 3. Yes, you can. Currency depends on what you plan to buy. But if I'm not mistaken you can't transfer in USD straight to IBKR via Instarem or Transferwise. Again, depends on what you are buying.  Ya i know we could not transfer USD straight via Instarem or Transferwise. So wondering if i want to buy US stocks, which currently shall I transfer via Instarem or Transferwise? At the end, i still have to transfer via IBKR to USD right since i want to buy US stocks And also thinking how come most forummers opened a SG account to trade as well. |
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May 14 2020, 03:56 PM
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#3
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Junior Member
341 posts Joined: Mar 2008
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hey guys,
im super confused here. i called instarem and said they can remit in MYR to USD? But since they won't be able to reveal their partner bank, i could not notify IB on my deposit. but they could share the slip after it is done. Am i missing up something here? Why is there a need to transfer the money from instarem to SG bank? and from SG and convert to USD? Thanks! |
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May 14 2020, 05:29 PM
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#4
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Junior Member
341 posts Joined: Mar 2008
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QUOTE(Ramjade @ May 14 2020, 04:48 PM) They can but IB won't accept USD from third party(so if you transfer USD, it's still going to get rejected by IB) ahh..that's why i was confused... Read first page. IB only accept currency like SGD, HKD, EUR. So if you want USD you need an intermediate currency. coz i read first page and when i called instarem, both said different things if that's the case, i do not have to own a singapore bank account to do that right? I could straightaway using my Malaysia bank and fund instarem to transfer to IB in Singapore account. I found this link; https://medium.com/@ngshiheng/investing-in-...sd-9f78c61f26cf Thank you so much Ramjade! appreciate it..  |
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May 15 2020, 11:29 AM
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#5
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Junior Member
341 posts Joined: Mar 2008
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QUOTE(Ramjade @ May 14 2020, 06:45 PM) Form what I read can. But you need to sell think about bringing money back to Malaysia too if you really want to bring. ah i totally forgot about this part IB-> CIMB SG ->CIMB MY is one of thr cheapest way vs IB -> Malaysian banks So your choice.  ok ok so i could deposit the money first while waiting to open a new cimb SG account. Thanks Ramjade! |
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May 15 2020, 03:12 PM
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#6
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Junior Member
341 posts Joined: Mar 2008
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just an update guys, i transferred the money using instarem this morning and now i could login into my IB account and saw the money there! it was fast..
by the way, i saw under my account, the cash balance amount is in USD. Do i still need to convert the currency? if yes, i just choose all my balance in sgd and choose usd and click submit right as i wouldn't the exchange rate. TQ |
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