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 Is Interactive Broker Legal in Malaysia?

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Sunshape
post Oct 10 2024, 11:30 AM

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QUOTE(MystiqueLife @ Oct 10 2024, 11:20 AM)
You sure it is using ACH? I transfer from IBKR and Moomoo US using ACH is 0 fees, withdrawal and deposit during testing

I have tried send USD from Moomoo SG, wire charges USD 30 LOL
Don't have DBS account. Damn
So, not using Moomoo SG anymore. Wanted to park in the CSOP MMF
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yes, I sent from my bank, not IBKR.
Sunshape
post Oct 10 2024, 11:31 AM

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QUOTE(TOS @ Oct 10 2024, 11:21 AM)
What is complicated my boy...

MYR -> SGD -> USD

USD -> SGD -> MYR

That simple only, with MoneyMatch/Sunway Mone/Wise/CIMB SG acting as the middleman...

You can do ACH to IBKR but there will be a wait of 2-3 days... no RTGS system like FAST-MEPS+ backend in SG (backend delay by 12 hours only)...

https://fastpayments.worldbank.org/sites/de..._Case_Study.pdf
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Not this la. I mean to invest with them. I found no road on their trading software. Dunno how to add categories
Sunshape
post Oct 10 2024, 11:42 AM

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QUOTE(TOS @ Oct 10 2024, 11:33 AM)
Are you short-term trader or long-term investor?
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Medium

QUOTE(Medufsaid @ Oct 10 2024, 11:34 AM)
which info did u use? ACH & Wire will use different set of details

  • ACH
  • Wire

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Damn. I clicked ACH but it asked if my bank is in US. As my bank is not in US, so I clicked no and choose wire.


Sunshape
post Oct 10 2024, 12:30 PM

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QUOTE(MystiqueLife @ Oct 10 2024, 12:27 PM)
That's why you get charged wire fees. ACHooo is free
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The wire fee was charged by my bank, not IBKR. My deposit is still pending. Not sure how much would be credited.
Sunshape
post Oct 10 2024, 02:38 PM

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QUOTE(NathanJeans @ Oct 10 2024, 01:09 PM)
Why need to prepare? Just report and take action la wtf

When kk mart got socks no preparation needed, straight away 12am tangkap orang and shutdown.
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QUOTE(Ramjade @ Oct 10 2024, 01:45 PM)
IBKR first withdrawal of the month is always free. Depending on the bank. Majority charge for incoming wire transfer.
That is why I use DBS remit which send USD for free.
I use cimb/ DBS and send SGD via FAST so it's free.
It's not complicated. You got no patience and dont read the everything on the screen. When I started out there was no one to help me or anyone to ask. I figured out everything myself.

Use the web version. Don't use their program (TWS). Their program is known for not user friendly. They have IBKR desktop which is more user friendly.
He seems short term as no patience.
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I am more pro to MT4 forex and crypto trading. Will try out IBKR desktop later.

Although DBS remit USD for free, but the recipient will receive lesser after minus the intermediary bank fees right? When my bank charges me $30 for OUR, it means the recipient will receive the exact amount.

This post has been edited by Sunshape: Oct 10 2024, 02:40 PM
Sunshape
post Oct 10 2024, 03:07 PM

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QUOTE(Medufsaid @ Oct 10 2024, 02:58 PM)
no. dbs still free. knowing ramjade for so long, he won't make any transactions that'll lose him unnecessary fees (e.g., remit USD30 but receive lesser than USD30. this is strictly no-no for him)
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Really? So cool.

Say, I use it to remit USD1000 to my HSBC USD account, my HSBC would receive 1000?
Sunshape
post Oct 10 2024, 09:26 PM

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Deleted - found it.

This post has been edited by Sunshape: Oct 10 2024, 09:27 PM
Sunshape
post Oct 11 2024, 12:43 PM

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IBKR web portal is very slow and unresponsive.

I already set session logout time to be 60 mins and still always told me your session has expired after 5 mins inactivity. Please logout and relogin again.
Sunshape
post Oct 11 2024, 12:51 PM

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QUOTE(Medufsaid @ Oct 11 2024, 12:47 PM)
Sunshape let me give u a tip

You just close the tab. When you want to reopen it, go to -> history -> last closed tabs and restore that ibkr tab

I use that to bypass the timer
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But I always got the error that your session has been expired. Please relogin. Although I relogin, I also got the same error message every time.
Sunshape
post Oct 11 2024, 01:23 PM

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QUOTE(TOS @ Oct 11 2024, 01:14 PM)
That's a well-known issue. Have you tried the desktop Trader Workstation software? You only need 1 login around 11:45 am (or 11:45 pm, depending on time zone setting) every day.
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Trader TWS or Trader Desktop?

I found TWS is complicated and need time to browse and learn.
Sunshape
post Oct 11 2024, 02:06 PM

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QUOTE(TOS @ Oct 11 2024, 02:04 PM)
Yea, TWS that's right. One big advantage of TWS over the web portal is you get to choose more complicated order types and the exchanges to route to. You don't have to use all the features though, just basic ones like routing submitting buy/sell orders, basic charting functions (if needed) etc.
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I am trying this https://www.interactivebrokers.com/en/tradi...bkr-desktop.php
Sunshape
post Oct 11 2024, 02:14 PM

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QUOTE(TOS @ Oct 11 2024, 02:11 PM)
Haven't used that yet. Maybe you can try and see if it fits your needs. It definitely looks cleaner than TWS from the screenshots I see so far.
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yes, i tried TWS and looks complicated for me.
Sunshape
post Oct 11 2024, 09:45 PM

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it has been almost 2 days and my deposit to IBKR has yet to be credited.
Sunshape
post Oct 11 2024, 10:47 PM

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QUOTE(chong6998 @ Oct 11 2024, 10:43 PM)
Did u notify ibkr how much u bank?
Can get instructions from ibkr then notify ibkr how much u plan to send
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Received the return wire 1 hour ago. Reason: account number was not valid.

IBKR instructed with this format: Account number + IBKR ID

But.
Sunshape
post Oct 11 2024, 11:53 PM

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QUOTE(Ramjade @ Oct 11 2024, 11:27 PM)
It is not that hard.
1. You need to notify IBKR that you are sending money from ABC bank.
2. They will give you the details of the IBKR bank account to bank in the money. Each bank account number is unique and different. Also they give ask your to include in the IBKR account number into your transfer info.
3. Login to your bank, fill up all details as provided by IBKR
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Definitely I followed. The issue might be my bank has ACH transfer only, no SWIFT, while I wrongly used SWIFT in IBKR.

Just resent using ACH info.
Sunshape
post Oct 12 2024, 07:45 AM

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QUOTE(Medufsaid @ Oct 12 2024, 12:22 AM)
Sunshape so the USD30 also refunded back?
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Yes, I received the refund on the sent amount + OUR fee - minus $5. Overall, I paid $5 for this mistake.
Sunshape
post Oct 12 2024, 09:57 AM

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QUOTE(dwRK @ Oct 12 2024, 08:58 AM)
where is your bank and name?
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XAPO rclxm9.gif
Sunshape
post Oct 12 2024, 10:51 AM

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QUOTE(dwRK @ Oct 12 2024, 10:49 AM)
no wonder... biggrin.gif
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Anything wrong with them?
Sunshape
post Oct 12 2024, 10:57 AM

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QUOTE(dwRK @ Oct 12 2024, 10:56 AM)
nothing wrong... your past postings gave the impression it was a bank in sg or something...

fintechs have had problems with ibkr in the past... even wise was not "accepted" for a long while...
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XAPO is not fintech la. It is a bank.

Yes, I have bank accounts in SG but I didn't use it because expensive to pay for it as the fee type is on BEN, not OUR.
Sunshape
post Oct 12 2024, 11:48 AM

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My second ACH deposit was received and credited after 10 hours. More faster than SGD deposit made to MooMoo Paynow. Lol



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