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 Interactive Brokers (IBKR), IBKR users, welcome!

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tadashi987
post May 5 2020, 11:00 PM

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QUOTE(xerxesbear_1 @ May 5 2020, 09:22 PM)
[/B]1. Whitelabel IBKR inactivity fees
I cannot find any information on Tradestation Global that says the inactivity fee is 0. Am i looking at the right website link ? I came across a previous post that pointed to this <a href='https://pictr.com/images/2020/05/05/5Dv4ox.md.png' target='_blank'>https://pictr.com/images/2020/05/05/5Dv4ox.md.png </a>. Do whitelabel IBKR accounts fall under Broker account structure? does that mean to have 0 inactivity fee, the minimum deposit is USD 1000? If so, why is it under broker account structure and not single accounts or linked account? Im stuck  rclxub.gif .
2. Can you trade US ETFs and mutual funds on tradestation global as well? i only saw stocks on their website.
Thanks
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TradeStation Global Review

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tadashi987
post May 6 2020, 08:24 PM

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QUOTE(ywliang96 @ May 6 2020, 06:16 PM)
I went and gave Malaysian CIMB and maybank a call and they mentioned I’ll need to pay a visit physically to their SG side to open a bank account sad.gif
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https://www.maybank2u.com.my/WebBank/iSAVvy_AppForm.pdf

check the pdf last few pages for branches which can open the maybank sg acc
tadashi987
post May 7 2020, 12:48 PM

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QUOTE(Krv23490 @ May 7 2020, 11:32 AM)
Just opened IBKR via TSG . Account opening takes approximately 4-5 days .

Which trading platform do you guys use ? TSG or TWS ?
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TWS is way better
tadashi987
post May 7 2020, 11:20 PM

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QUOTE(livellorT @ May 7 2020, 11:06 PM)
Hi All,

New to stock market, and want to try out US stock. But before opening the account, may I ask the following:-

Say I'm going through normal IBKR path.
1. The account maintenance fees will be 10usd/month unless equity is more than usd100k or usd10 in commissions generated.
Q: meaning have to either fulfill one of the requirement right? Does the commissions still apply if our-self is doing the buying and selling?

2. Transferring fund to using Instarem to IBKR.
Q: can it be done using Malaysia local bank through these option A. myr>usd>IBKR ; B. myr>sgd>IBKR

3. Withdrawing fund from IBKR.
Q: can I withdraw straight to Malaysia local bank, or have to go through online transfer platform such as Instarem?
Or

Whitelables of IB path.
4. Activation/Minimum deposit of usd1000
Q: this deposit will automatically available in IBKR as well?
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Q1, IBKR in the first place is DIY buying and selling. commission is charged for each trade. u need generate total usd 10 commission to waive the 10 usd maintenance fee per month
Might as well go for Tradestation global whitelabel of IBKR no monthly maintenance fee

Q2. can but bank charge TT very costly, read the first post on the most cost efficiency way

Q3. not sure about this, not recommended also thou, malaysia inward remittance fee also costly, might as well for got CIMB SG no inward remittance fee

Q4. dont understand your question, what means by "automatically available in IBKR?"
tadashi987
post May 8 2020, 10:38 PM

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QUOTE(mr_tuzki @ May 8 2020, 10:26 PM)
How do you use TWS? I find it so complicated and the UI looks so backward. I think it has more capabilities than the Webtrader/Mobile though. But I've tried it a few times and just couldn't stand it.
yeah the TWS is old fashion way, we might not used to it because it is too many function. but technical trader might like thou
tadashi987
post May 22 2020, 05:57 AM

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QUOTE(Ramjade @ May 22 2020, 02:24 AM)
There you go. As long as got anything Singapore, automatically gets rejected.
TSG funding is USD1k
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if already opened and have the existing acc, next time moved to SG, should be alright to keep using the acc right just to be sure sweat.gif
tadashi987
post May 26 2020, 01:07 AM

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QUOTE(FishIsSmart @ May 26 2020, 12:47 AM)
There is another broker , Tiger securities, also using IB.
wonder how is their software.
how is TSG software compared to IB ?
most people use the workstation software of the mobile ?
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you can read through the user experience here smile.gif
Tiger Broker Singapore - New firm?

tadashi987
post May 27 2020, 03:00 PM

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QUOTE(moosset @ May 27 2020, 11:58 AM)
HSBC has an Everyday Global account. It charges $4 USD (excluding cable) for same currency transfer, i.e. USD to USD.

Maybe someone can try? brows.gif

edit: there's also the Global View Global Transfer thingy, which I'm not sure how it works.
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Biggest concern i think still the rate? haha bank rate always bad
tadashi987
post May 27 2020, 08:42 PM

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QUOTE(moosset @ May 27 2020, 08:15 PM)
Yggdrasil Did CIMB charge you for receiving USD from IBKR??
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u mean CIMB SG? nope they don't, as per my last withdraw, Maybank ISavvy does
tadashi987
post Jun 13 2020, 10:30 PM

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QUOTE(ProxMatoR @ Jun 13 2020, 10:20 PM)
recently I just opened FSM SG.

I tested and found that comparatively, TSG is still cheaper in terms of charges compared to FSM SG.

Besides cheaper charges, what are the differences between the two? e.g. any benefit using FSM SG?

Anyone could help to clear my mind? TQ TQ
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FSM SG charge dividend handling fee for foreign share also
tadashi987
post Jun 22 2020, 06:08 PM

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QUOTE(TOS @ Jun 22 2020, 05:28 PM)
Ok, an update guys. Transferring to SG is now possible. The 11-account number restriction has been lifted.

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moosset Please update the 1st page again. biggrin.gif
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blink.gif now can fund IBKR with SGD directly using Transferwise?
tadashi987
post Jun 24 2020, 11:48 AM

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QUOTE(C4H10FO2P @ Jun 24 2020, 11:06 AM)
thanks to this resourceful thread, i have open another broker for more stock options, i have etoro for the bluechips

just to share my experience, i've opened IB thru TSG, and got verified in a week, then deposited the funds via instarem. i transferred via m2u at 7am and the funds got thru to IB at 10am same day, super fast! .. and best of all the fee is super low (rm10).. there is a guide written in medium blog that detailed every step, props to the author.
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mind share the medium blog?
tadashi987
post Jun 24 2020, 03:59 PM

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QUOTE(barronsama @ Jun 24 2020, 01:32 PM)
Do we need to fill out W-8BEN form? What is the better ETF to invest in S&P 500 than QQQ as it has 30% tax rate?
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QQQ is not tracking S&P 500, I think u mistaken

SPY is the ETF track S&P 500
QQQ is the ETF track NASDAQ 100


tadashi987
post Jun 24 2020, 05:11 PM

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QUOTE(barronsama @ Jun 24 2020, 05:08 PM)
My bad. Meant to say SPY. tongue.gif
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yes u need to fill the W-8BEN form to declare you are not US resident so to exempt urself from capital gain tax.
also, S&P 500 for Ireland domiciled to opt for 15% WTH is SXR8, check below post

https://forum.lowyat.net/topic/4744515

tadashi987
post Jun 24 2020, 06:25 PM

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QUOTE(Gwynbleidd @ Jun 24 2020, 06:09 PM)
Even if I don't invest in anthing on NYSE or in US-domiciled stuff/stocks?
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seem not
https://www.reddit.com/r/eupersonalfinance/...eed_an_w8_form/
tadashi987
post Jun 24 2020, 10:00 PM

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QUOTE(livellorT @ Jun 24 2020, 09:54 PM)
During account opening there is a page where to "Confirm Your Tax Residence" Substitute Form W-8BEN. These consider the W-8BEN?
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forgotten about account opening but u can recheck through your IBKR account maintenance section after account opened
tadashi987
post Jul 30 2020, 05:23 PM

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QUOTE(lamode @ Jul 30 2020, 02:55 PM)
for new users with IB, suggest u just use the app to do conversion.
super simple and straight forward.  wink.gif
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will this create a virtual position on FX like idealpro?
tadashi987
post Aug 1 2020, 11:52 AM

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QUOTE(KennethFoo24 @ Aug 1 2020, 11:20 AM)
Hi Fellow Gurus,

I am an absolute newbie in IBKR

I am a StashAway Investor, and adding IBKR into my portfolio to directly purchase some ETFs
Just want to get my numbers right.

Currently, StashAway has a 0.8%p.a charge , with 0.2% ETF expense ratio p.a. and a one-time 0.1% currrency conversion.
https://www.stashaway.my/pricing

Let's use RM5000 Buy and Hold for 5years as an example,

StashAway

RM5000 x (0.8% + 0.2% + 0.1%) = RM50/per annum + RM5 conversion fee

5 years (RM55 1st year + (RM 50 x 4years) ) = RM255 in fees
IBKR + TSG

The flow : MYR Bank > Instarem > SGD in IBKR > USD in IBKR > Purchase ETF in IBKR

Instarem transfer : RM 5000 > SGD : Fees Roughly RM25
SGD.USD Pair in IBKR : Exchange Fees USD2 ~ RM8.50
Buy ETF Fees : USD 1.5 ~ RM6.5

Total Fees : RM40

5 Years (RM 40 1st Year + (RM0 x4 year) ) = RM 40

-------------------------------------------------------------------------------------------------------

Above scenario has not considered withdrawals, but for simplicity sake, I would just take the same RM40 fees in IBKR example.

My other variable is :

Stashaway : Converts MYR to USD directly , den reverse when withdraw

IBKR : Convertys MYR to SGD + SGD to USD , den reverse when withdraw

Summary,

short of the conversion rate risks, IBKR is the clear winner in terms of fees. Or am i missing something ?
Feel free to copy paste the calculation and fix it accordingly.

I will still remain invested in StashAway, but also exploring other options.

Any input is welcome

Thanks guys  thumbup.gif
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yep your understanding for lumpsump, but if you practise DCA, then your IBKR fee will be with higher fee and different calculation

tadashi987
post Aug 5 2020, 11:32 PM

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QUOTE(echoesian @ Aug 5 2020, 11:26 PM)
I have registered the tradestation, but how come it brings me to the IKBR?
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https://www.tradestation-international.com/global/

TradeStation International Ltd acts as an introducing broker to Interactive Brokers (U.K.) Ltd. and its affiliates

Tradestion is Interactive Brokers's whitelabel

for ur further reading:
https://forum.lowyat.net/topic/4744515/+1000#entry97633021

https://choivocapital.com/2020/05/03/nuts-a...3E1R7QFPmVIykcE
tadashi987
post Aug 5 2020, 11:50 PM

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QUOTE(echoesian @ Aug 5 2020, 11:40 PM)
So where can I find the tradestation login link?
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u have finished ur accout opening process, done funding, and got approved?

if yes, u can just login to IBKR web portal, mobile app, or TWS using the ID and password u set

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