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Old 09-09-2017, 04:46 AM   #3076
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Does IB work as a cheap way to do forex and remittance?

E.g. Can I fund my IB account with SGD using GIRO/FAST in SG, convert it to USD, and make one free withdrawal a month in USD to my BoA account in US using ACH?
Yep, this works fine; I do it all the time.
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Old 09-09-2017, 02:37 PM   #3077
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For USD 10 a month right, the appropriate amount to invest a month is roughly $1k USD to make a worthwhile switch to IB, is that correct?
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Old 09-09-2017, 08:07 PM   #3078
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For USD 10 a month right, the appropriate amount to invest a month is roughly $1k USD to make a worthwhile switch to IB, is that correct?
Compared to what?
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Old 12-09-2017, 01:48 AM   #3079
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For USD 10 a month right, the appropriate amount to invest a month is roughly $1k USD to make a worthwhile switch to IB, is that correct?
$1k to $2k, yeah. I recommend $1k over in my thread, but that's probably a bit lower than the mathematically correct cutover point.
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Old 12-09-2017, 10:40 AM   #3080
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I wonder why IB waives off the minimum commission if your AUM is above 100k. I mean how does having a 100k AUM earn them money?

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Old 12-09-2017, 10:51 PM   #3081
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I wonder why IB waives off the minimum commission if your AUM is above 100k. I mean how does having a 100k AUM earn them money?
Investors with higher value holdings tend to pay more in trading commissions naturally. Also, IB isn't paying maximum interest on cash, so they get some "float."

It's not a perfect correlation, but it doesn't have to be.
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Old 12-09-2017, 10:57 PM   #3082
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I wonder why IB waives off the minimum commission if your AUM is above 100k. I mean how does having a 100k AUM earn them money?
I guess your next question is why SCB waives off the minimum commission if your AUM is above 200k.
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Old 13-09-2017, 07:45 AM   #3083
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Investors with higher value holdings tend to pay more in trading commissions naturally. Also, IB isn't paying maximum interest on cash, so they get some "float."

It's not a perfect correlation, but it doesn't have to be.
Thanks, I have worked in a private bank before and there they charge fees for their clients as a percentage of AUM and there was a move to nudge out low AUM clients and get clients with minimum AUM of S$2m. There it made sense since fees is directly proportional to AUM. But in case if IB it is not, which is why I was curious.

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Old 13-09-2017, 08:42 AM   #3084
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There it made sense since fees is directly proportional to AUM. But in case if IB it is not, which is why I was curious.
Correlation is better than good enough for these purposes.

There's also much greater competition in the U.S. than what you're used to.

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Old 13-09-2017, 09:41 AM   #3085
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izit possible to opt in for IPO for US stocks using IB?
can't find any info/guides online.

and 1 more question, how do i buy stock listed in india (NSE), i can find the stock quotes in IB
so will it be same as buying US stocks, eg: buy USD.SGD then buy the stock
i assumed it will be to buy USD.SGD , then buy INR.USD, then buy the stock?

anyone have experience?

Last edited by deadravel; 13-09-2017 at 10:52 AM..
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Old 13-09-2017, 10:34 AM   #3086
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I guess your next question is why SCB waives off the minimum commission if your AUM is above 200k.
I am actually surprised SCB allows investments as part of the 200k AUM for priority banking. Deposits and home loan, I understand they earn money on it.

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Old 13-09-2017, 11:55 PM   #3087
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guys.. I just activated my account.

tried trading recently and I kept getting like this message.

The following order "BUY 100 FEYE NASDAQ.NMS @ 17.08" price exceeds
the Percentage constraint of 3%.
Are you sure you want to submit this order?
No Yes

I tried stocks with different amt/price and I still get this type of messages....2 times every order, one for limit buy and another for stop loss order.

what does this mean?
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Old 14-09-2017, 12:42 AM   #3088
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I am actually surprised SCB allows investments as part of the 200k AUM for priority banking. Deposits and home loan, I understand they earn money on it.

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DBS accepts it too. I think it's commonly accepted. It's just how much is accepted.
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Old 14-09-2017, 04:13 AM   #3089
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guys.. I just activated my account.

tried trading recently and I kept getting like this message.

The following order "BUY 100 FEYE NASDAQ.NMS @ 17.08" price exceeds
the Percentage constraint of 3%.
Are you sure you want to submit this order?
No Yes

I tried stocks with different amt/price and I still get this type of messages....2 times every order, one for limit buy and another for stop loss order.

what does this mean?
It's poorly worded, but all it means is that you're trying to set an order more than 3% away from spot, and it assumes you've typoed the price. Just hit "yes" once you've checked that the order is what you meant to put in.

izit possible to opt in for IPO for US stocks using IB?
can't find any info/guides online.
Nope.

and 1 more question, how do i buy stock listed in india (NSE), i can find the stock quotes in IB
so will it be same as buying US stocks, eg: buy USD.SGD then buy the stock
i assumed it will be to buy USD.SGD , then buy INR.USD, then buy the stock?

anyone have experience?
I think you might need to have an NRI account type to be able to buy NSE-listed stocks. If you've got one of those, then yeah - just buy the INR, then buy the stock.
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Old 14-09-2017, 07:56 AM   #3090
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Indian stocks markets and the Indian rupee has restrictions on foreign buyers. You can buy via ETFs or you need to be registered as a financial institution or something. NRI basically means Non Resident Indians. It is basically present or past Indian passport holders living abroad can open an NRI account and trade Indian stocks.

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