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 Is Interactive Broker Legal in Malaysia?

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Sunshape
post Oct 9 2024, 12:43 PM

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QUOTE(Ramjade @ Oct 9 2024, 12:27 PM)
Then use either one of the account to receive your USD and use either one of that account to send USD to interactive broker.
Then your problem is solved. No need to pening using wise.

I am on margin but I treat it like cash account. My balance is always positive hence never been charged any interest.
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Forgot to ask.

If I use Bank ABC to deposit USD, can I later withdraw the USD to Bank XYZ?
Ramjade
post Oct 9 2024, 12:50 PM

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QUOTE(Medufsaid @ Oct 9 2024, 12:31 PM)
how much is the swift fees
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Zero.

QUOTE(Sunshape @ Oct 9 2024, 12:40 PM)
many thanks. I realised need to change the deposit currency first from MYR to USD. Then can see Wire or ACH.  smile.gif

Now need to settle another issue. The account has just approved yesterday but why the trading permission on stocks is still pending?

And able to change from cash account to margin?
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Maybe need to fund your account first. Yes can change.

QUOTE(Sunshape @ Oct 9 2024, 12:43 PM)
Forgot to ask.

If I use Bank ABC to deposit USD, can I later withdraw the USD to Bank XYZ?
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Can. As long as under your own name no issue.

Sunshape
post Oct 9 2024, 12:56 PM

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QUOTE(Ramjade @ Oct 9 2024, 12:50 PM)
Zero.
Maybe need to fund your account first. Yes can change.
Can. As long as under your own name no issue.
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Zero SWIFT fee? If use HSBC SG to send USD, zero SWIFT fee ah?

cool2.gif
Ramjade
post Oct 9 2024, 01:07 PM

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QUOTE(Sunshape @ Oct 9 2024, 12:56 PM)
Zero SWIFT fee? If use HSBC SG to send USD, zero SWIFT fee ah?

cool2.gif
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Nope. Zero is only for DBS. How much you kena charge, that you need to experiment yourself and see. Unlikely you will get zero with HSBC.

This post has been edited by Ramjade: Oct 9 2024, 01:07 PM
Medufsaid
post Oct 9 2024, 01:09 PM

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QUOTE(Sunshape @ Oct 9 2024, 12:56 PM)
Zero SWIFT fee?
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better ask your banks

user posted image

https://www.uob.com.sg/business/help-suppor...es-outward.page
Sunshape
post Oct 9 2024, 01:11 PM

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I am learning and first time doing all of this.

Wanna learn from Bro Ramjade to buy one way ticket. LoL
Ramjade
post Oct 9 2024, 01:26 PM

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QUOTE(Sunshape @ Oct 9 2024, 01:11 PM)
I am learning and first time doing all of this.

Wanna learn from Bro Ramjade to buy one way ticket. LoL
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It's very easy. Have strong stomach and don't have itchy hands.
Sunshape
post Oct 9 2024, 01:29 PM

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QUOTE(Ramjade @ Oct 9 2024, 01:26 PM)
It's very easy. Have strong stomach and don't have itchy hands.
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so can skip MooMoo MY?
Medufsaid
post Oct 9 2024, 01:33 PM

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Sunshape ask your bank about the charges. If no way to send to DBS sg for a cheap fee it's hard to move it around
Ramjade
post Oct 9 2024, 02:12 PM

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QUOTE(Sunshape @ Oct 9 2024, 01:29 PM)
so can skip MooMoo MY?
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Moomoo MY have no place at all. Useless broker. No access to their MMF.
Moomoo SG at least got MMF to park your money temporarily.
Medufsaid
post Oct 9 2024, 02:16 PM

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Ramjade Moomoo MY has USD mmf now if u aren't aware

user posted image
Sunshape
post Oct 9 2024, 02:17 PM

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QUOTE(Medufsaid @ Oct 9 2024, 01:33 PM)
Sunshape ask your bank about the charges. If no way to send to DBS sg for a cheap fee it's hard to move it around
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trying to send USD5k. Will update you all how it works and the fee tongue.gif

How to open MooMoo SG ah?
Ramjade
post Oct 9 2024, 02:20 PM

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QUOTE(Medufsaid @ Oct 9 2024, 02:16 PM)
Ramjade Moomoo MY has USD mmf now if u aren't aware

user posted image
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I am interested in the SGD MMF. Also their USD MMF return is below SG version.

Moomoo sg USD MMF is at 4.8795%p.a

This post has been edited by Ramjade: Oct 9 2024, 02:20 PM
Medufsaid
post Oct 9 2024, 02:21 PM

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QUOTE(Sunshape @ Oct 9 2024, 02:17 PM)
How to open MooMoo SG ah?
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already replied u in the moomoo thread
Sunshape
post Oct 9 2024, 03:21 PM

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why the stocks trading permission is still pending one?

user posted image

To trade cryptocurrencies, is under which option?
Medufsaid
post Oct 9 2024, 03:26 PM

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Sunshape singaporeans/malaysians cannot trade crypto in IBKR. however, if you are sg citizen/sg PR, you can trade crypto in Moomoo SG

if you are malaysian citizens in Moomoo SG, you cannot trade crypto
Sunshape
post Oct 9 2024, 03:28 PM

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QUOTE(Medufsaid @ Oct 9 2024, 03:26 PM)
Sunshape singaporeans/malaysians cannot trade crypto in IBKR. however, if you are sg citizen/sg PR, you can trade crypto in Moomoo SG

if you are malaysian citizens in Moomoo SG, you cannot trade crypto
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Sad. I thought to venture into Crypto.

How about if any funds related to crypto one?
Medufsaid
post Oct 9 2024, 04:13 PM

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Sunshape you can try to buy
  • $IBIT - bitcoin
  • $ETHA - ethereum
ETFs but most likely IBKR has blocked malaysians/singaporeans from buying. so you buy from Moomoo
Sunshape
post Oct 9 2024, 06:28 PM

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Anyone tested how fast the ACH can be received by IBKR and credited?

1 day is ok or not?
kelvinfixx
post Oct 9 2024, 06:29 PM

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on your own risk

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