Local Brokerage Account for global trading
Local Brokerage Account for global trading
|
|
Jan 22 2021, 05:11 PM, updated 5y ago
Return to original view | Post
#1
|
![]()
Probation
33 posts Joined: Jan 2021 |
Does anyone have suggestions on local brokerage for a global trading account to buy shares from China, US, and Singapore?
|
|
|
|
|
|
Jan 23 2021, 08:07 PM
Return to original view | Post
#2
|
![]()
Probation
33 posts Joined: Jan 2021 |
|
|
|
Jan 23 2021, 08:40 PM
Return to original view | Post
#3
|
![]()
Probation
33 posts Joined: Jan 2021 |
|
|
|
Jan 23 2021, 08:49 PM
Return to original view | Post
#4
|
![]()
Probation
33 posts Joined: Jan 2021 |
|
|
|
Jan 24 2021, 10:18 PM
Return to original view | IPv6 | Post
#5
|
![]()
Probation
33 posts Joined: Jan 2021 |
QUOTE(Takudan @ Jan 23 2021, 08:59 PM) Indeed IBKR's 10usd/month is too much for long term investors like you and me, hence Ramjade sifu's suggestion to use TradeStation. You basically get an IBKR account via TradeStation, then you use IBKR platform and all, with the only difference being the commission fee is about 1.5usd/trade compared to IBKR's cents. Thank you for your detailed informationThe painful part with overseas account is the initial setup and wiring the money I guess. You need to look for the cheapest route all the route to maximise your investment. Summary: 1) SG bank account (some of our Malaysian banks offer easy account opening services online as long as you have CIMB MY, like CIMB SG). You will use this as your "entrance" to overseas. 2) Money transfer account e.g. TransferWise / Instarem / BigPay / ... You will survey each of their TNC* everytime you want to do transfer. By TNC: fee, rate, maximum transfer amount 3) TSG account (you will be redirected to IBKR page because indeed, you will be opening an IBKR account but under TSG) 4) Decent capital to start with. There's a fixed fee incurred every transfer, so imagine transferring RM100 (-RM8 fee), vs. RM10000 (-RM8 fee). Example route to your overseas account: CIMB MY -> TransferWise (RM to SGD) -> CIMB SG -> Local transfer to SG bank (details provided when you trigger a transfer in IBKR) -> SGD in IBKR -> buy USD in IBKR -> buy US stock IBKR, pay 1.5usd commission (TSG rate) |
|
|
Jan 24 2021, 10:18 PM
Return to original view | IPv6 | Post
#6
|
![]()
Probation
33 posts Joined: Jan 2021 |
|
| Change to: | 0.0727sec
0.81
6 queries
GZIP Disabled
Time is now: 23rd December 2025 - 11:57 PM |