Not this la. I mean to invest with them. I found no road on their trading software. Dunno how to add categories

Are you short-term trader or long-term investor?

which info did u use? ACH & Wire will use different set of details

• ACH
  QUOTE(Medufsaid @ Oct 9 2024, 11:57 AM)
  
  
  
  

  
• Wire
  QUOTE(Medufsaid @ Oct 9 2024, 12:36 PM)
  
  
  
  

  

  
  

This post has been edited by Medufsaid: Oct 10 2024, 11:36 AM

Medium

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.

That's why you get charged wire fees. ACHooo is free

The wire fee was charged by my bank, not IBKR. My deposit is still pending. Not sure how much would be credited.

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.

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

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)

Really? So cool.

Say, I use it to remit USD1000 to my HSBC USD account, my HSBC would receive 1000?

If you mean DBS SG USD -> IBKR's Citibank NA account, there is no intermediary charge from IBKR upon receival. I can't find the MT103 SWIFT payment message from DBS... but in theory you can deduce who will pay for the fees from the 71A field:

https://www.globalmediapro.com/content/What...entInstructions

All Singapore banks got income wire fees except for CIMB for SGD only if I am not mistaken. Unless you have priority banking then can waive the incoming fees.

I don't bring money back hence I don't get charged any bank fees. But if I were to bring money back, I would find the cheapest way after minus fees.

If the cheapest way have to pay fees,so be it. Sometimes it is cheaper to pay fees Vs "free". Ironically.

Yes, like I mentioned, deposit into IBKR via bank ACH and withdrawal from IBKR to bank via bank ACH is free. How much you sent is how much you get.

This post has been edited by MystiqueLife: Oct 10 2024, 08:47 PM

Deleted - found it.

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

are you sure can ACH from USA bank to SG bank? afaik, ACH is for internal USA use only... cannot use to send usd outside of USA...

but yes, ACH you get 100%... usd wire to usd mca is usually 100% too... but best to test is out in case one has an obscure bank that needs and intermediary/correspondent bank...

I use to ACH with bank in US and then transfer out to MY or SG or ACH to Wise.

thanks for sharing. definitely not straightforward. requires a bit of legwork i suppose.

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 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

This post has been edited by Medufsaid: Oct 11 2024, 12:48 PM

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.