Interactive Brokers - SGD now available for funding

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inquee

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I can’t answer Q1 coz i haven’t tried to withdraw yet, but depositing from MCA to IB no fees. So if you transfer $1000USD, you will see $1000USD in IB. You will need to use the remit feature to send to Citi N.A. with swiftcode for their New York branch. It is a totally different bank account number than when you deposit SGD via FAST.

Anyone with DBS multicurrency account(MCA) successfully transferred foreign funds as below?

1. Withdraw USD from IB to DBS MCA? Does this incur incoming TT charge?

2. Deposit USD from DBS MCA to IB? Since DBS has free Transfer fee to US banks.

When we deal with deposit/withdraw foreign currency USD to IB, are we still dealing with its IB Citibank SG?

Anyone tried
 

revhappy

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I can’t answer Q1 coz i haven’t tried to withdraw yet, but depositing from MCA to IB no fees. So if you transfer $1000USD, you will see $1000USD in IB. You will need to use the remit feature to send to Citi N.A. with swiftcode for their New York branch. It is a totally different bank account number than when you deposit SGD via FAST.
Are you sure? Outbound TT and no commission in lieu or handling charges is too good to be true.

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inquee

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I have been remitting USD out using DBS MCA for quite a few months. It will always show you 0 fees when you are remitting. They only charge you 2.5% when you deposit USD in. Outgoing is free.

Are you sure? Outbound TT and no commission in lieu or handling charges is too good to be true.

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revhappy

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I have been remitting USD out using DBS MCA for quite a few months. It will always show you 0 fees when you are remitting. They only charge you 2.5% when you deposit USD in. Outgoing is free.

Thanks.

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gyakuhami

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accumulating vs distributing

The recommendation for international ETF is usually VWRD or IWDA.
IWDA is accumulating -- could you check if I've interpreted 'accumulating' correctly?
Accumulating means that dividends will be reinvested in the fund, bringing up the value per unit but doesn't give you more units.

If that is correct, what happens in a bear market? Will I lose those dividends, compared to if I had bought VWRD (distributive) and reinvested dividends to buy more units?
 
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MikeDirnt78

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The recommendation for international ETF is usually VWRD or IWDA.
IWDA is accumulating -- could you check if I've interpreted 'accumulating' correctly?
Accumulating means that dividends will be reinvested in the fund, bringing up the value per unit but doesn't give you more units.

If that is correct, what happens in a bear market? Will I lose those dividends, compared to if I had bought VWRD (distributive) and reinvested dividends to buy more units?

Same impact. Except that you will incur transaction fees when you choose to reinvest yourself.
 

BBCWatcher

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gyakuhami said:
If that is correct, what happens in a bear market?
Same impact. Except that you will incur transaction fees when you choose to reinvest yourself.
Automatic dividend reinvestment is also slightly more efficient because there's no rounding error. If you "manually" reinvest dividends you're only buying whole shares, not reinvesting dividends to the penny (which is possible because of the pooled/aggregated aspect of the underlying holdings).

That said, VWRL has its appeal in terms of its portfolio, specifically its modest exposure to emerging markets that some savers/investors desire. IWDA doesn't include that bit of emerging market exposure, so it has to be combined with another fund (e.g. EIMI) if you want something similar to VWRL's portfolio.

Anyway, they're both good. The differences really are slight, especially if you're a typical, long-term, dollar cost averaging investor.
 

c1steady

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No, U.S. Treasuries are not counted toward the US$60,000 U.S. estate tax exemption that applies to the estates of non-U.S. persons. Cash (in any currency) held at a U.S. broker is counted toward that exemption.

For example, let’s suppose you want to invest in U.S. Treasuries through a U.S. broker, and that you have US$100,000 you want to invest. Let’s assume you have no other U.S. assets that could be subject to the U.S. estate tax. (No shares of Apple stock, for example.) You may wish to deposit US$50,000 (below the US$60,000 exemption), buy a U.S. Treasury, deposit the remaining US$50,000, buy another U.S. Treasury (with a different maturity date), and loop/repeat such that you’re never above US$60,000 in cash....

....Or you can just buy more life insurance if you’re concerned about the U.S. estate tax liability.
Thanks BBC. I understood the first part of your comments. For the second part on the life insurance , how do we go about it. Are you saying to buy US life insurance ?

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BBCWatcher

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For the second part on the life insurance , how do we go about it.
The U.S. estate tax (if it applies) would effectively reduce the amount of wealth that ends up transferred to your heir(s). You can compensate for that tax-related subtraction using ordinary, simple life insurance, purchased from whichever reliable insurance carrier you wish -- and assuming that the post-tax amount left to your heir(s) is insufficient to support their lifestyles as you wish them to be supported, as they genuinely need to be supported.
 

lenney

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Hi guys, normally which channel you use to seek support from IB? Live chat or message center or phone call?

I try the Live chat few times, but seem never able to get thru that connecting ....... I try message centre, I can see there are messages under the bell icon. But when I go to in box, there is nothing there.

I funded the account, but there isn't live data and graph. Is there a need to buy a package for level 1 US stock data? The briefing.com news need to pay?

Compare to etrade, TD Ameritrade and Optionexpress, this seem less user friendly. Did I missed something?
 

stamploversg

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Hi all

for those who have done cash withdrawal from IB to a SG bank, do we need to inform the bank prior to making the transfer, if the amount involved is substantial (substantial for me is about 100k...:)

Thanks.
 

revhappy

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Hi all

for those who have done cash withdrawal from IB to a SG bank, do we need to inform the bank prior to making the transfer, if the amount involved is substantial (substantial for me is about 100k...:)

Thanks.
Nope

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MikeDirnt78

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Hi guys, normally which channel you use to seek support from IB? Live chat or message center or phone call?

I try the Live chat few times, but seem never able to get thru that connecting ....... I try message centre, I can see there are messages under the bell icon. But when I go to in box, there is nothing there.

I funded the account, but there isn't live data and graph. Is there a need to buy a package for level 1 US stock data? The briefing.com news need to pay?

Compare to etrade, TD Ameritrade and Optionexpress, this seem less user friendly. Did I missed something?

I usually message them. Or live chat with them. Most of the time, my queries were responded.

You need to tick the options in your market subscription page.
 
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Shiny Things

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Hi guys, normally which channel you use to seek support from IB? Live chat or message center or phone call?

I try the Live chat few times, but seem never able to get thru that connecting ....... I try message centre, I can see there are messages under the bell icon. But when I go to in box, there is nothing there.

I use the message centre. Had to ping them this morning for an issue with tax lot matching and got a reply in less than ten minutes.

I funded the account, but there isn't live data and graph. Is there a need to buy a package for level 1 US stock data? The briefing.com news need to pay?

Yep, if you want real-time level-1 data, you need to pay for it (unless you do more than $10/month in brokerage). Go into Account Management / Manage Account / Trade Configuration / Market Data. Briefing.com news is free.

The details are all here.
 

lenney

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Thanks for the sharing. Find some IB user application videos in Youtube.
Probably some of the data/info in my existing accounts are freebies.
 

StarSeven

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Is there something wrong with IB today?

I have followed the same steps I did for the past 6 months. However, this time, with sufficient USD, I get the following error:

"Your order is not accepted. There is insufficient settled cash in your account to obtain the desired position."

Anyone getting the same error?
 
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