Hi guys, having gone thru this thread, the most popular way to transfer funds to IBKR seems to be:

instarem(MYR) -> SG CIMB FastSaver(SGD) -> IBKR (SGD) -> IBKR (convert USD/HKD)

A couple of questions:

a) must it only be SG CIMB Fastsaver? Would SG M2U account work in this case?

b) What if I already have my funds in USD account in MY, what you reckon wld be the best way to transfer it into IBKR US? At first I though of doing MY bank (USD Acc)>TransferWise>IBKR (I have encountered problems in the past when trying to transfer direct from MY bank to IBKR). Then I thought this would not save me any money coz the cost to transfer to TransferWise would be the same if I transfer directly into IBKR.

This post has been edited by sukhwin79: Feb 13 2020, 12:59 AM

Do u know if they accept TransferWise in any other currency if not USD? Because their FAQ states;

"While it is possible to deposit funds from this money transmitter, the transfer would need to meet the following conditions:

The funds would need to originate from an account titled the same as the IBKR account;
The deposit payment details would need to include your account ID and title.

Based upon prior experience, Transferwise generally does not include the required information in the payment details and, if this is the case, the funds will be returned as unidentified."

Thank u for the info.

I am now thinking of how to utilize fintech to transfer my USD from Malaysian bank to IBKR to minimise transfer fee and fx rates. Going the instarem route seems to be counter productive . I have to do USD to MYR at bank (since Instarem ony can deposit in MYR) -> MYR to EUR at Instarem -> EUR to USD at IBKR.

Invaluable info. Thank you very much. This does save me a lot of trouble.

OK, will find out if this is a viable option. Need to find out if can open USD acc in SG. I have SGD acc with Maybank. Will enquire with them first.

Yes, I do have the TWise Borderless acc. Perhaps better to direct transfer USD from MY bank to USD TWise in my case, since my funds already in USD.

USD MY -> USD Twise, then convert to EUR > IBKR, then convert EUR back to USD.

Sigh, sounds so mahfan.

Haven't explore this option.
I'm normally into US index ETFs & US/China technology stocks. For ETFs, i buy Irish domiciled.