Hmm very strange
I transferred $10000 SGD to IB, and paid $30 for Citibank for TT. However, the amount in my account is less than $10000. Around SGD 7 less. Is there some charge that Im not aware of? Previously when I transferred via USD, the amount received was the same as that transferred
I would recommend IB as a broker for US stocks, fantastic and easy to sign-up and use. Deposit can be quite high if you're above a certain age, think above 25 is US$10,000.
well I finally transferred some $ from my Citibank acct to IB
total TT fees was only $30, and IB converted my SGD to USD at a rate of 1.23756, which is pretty nice.
strangely, i have trading permissions for the SGX as well, lol.
For those who have transferred funds to IB via Citibank, may I ask whether you are using "Citibank Global Transfer"? It seems like this is a cost-effective way to do so.
Citibank Global Transfers ? www.ipb.citibank.com.sg
1. Once I have funded my IB acct with SGD, how do I change it to USD to trade USD stocks? Can I convert it at good spot rates or should I convert over here first and wire the money as USD.
2. How do I create a wire transfer to IB account? Can I use citibank internet banking or must I go to a branch. It will be helpful if someone can point me to a guide somewhere on the net for this.
3. Do I have to notify IB of an incoming deposit?
1. IB will use whatever the USD/SGD rate is when you buy/sell the US stock. You don't have to convert it manually. IB should have much better rates as compared to the local banks.
Are you sure about this? I would think that you will need to convert to USD first manually before buying the stock. But I can't confirm since my account has so far been funded in USD. Have you successfully carried out a trade without manually converting first?
hi,
may I know if anyone is using the security token from IB?
Can they even deliver to Singapore?
well I finally transferred some $ from my Citibank acct to IB
total TT fees was only $30, and IB converted my SGD to USD at a rate of 1.23756, which is pretty nice.
strangely, i have trading permissions for the SGX as well, lol.
May I ask if you filled up the wire transfer form?
http://www.ipb.citibank.com.sg/globa...pplication.pdf
I am really surprised you paid only $30.
From what I read, it does not seem to be only SGD20. Under (B) Withdrawal from Transaction Account, it is 1/8% commission (minimum $20) plus 1/8% in-lieu-of exchange (minimum $10) and postage or cable cost (where applicable). Other charges include cable cost($30) and Tracers for investigation($30). Seems minimum is going to be close to $100.
Funds Transfers ? www.ipb.citibank.com.sg
Do you need to be elite private banking client? Please help me, thank you very much.
no, didn't fill up any form. it's not a global transfer. i used citibank online to do it.
yes, it's strange but that's what they charged me
finally, i'm not a elite anything
Thank you very much for replying. On IB website, I am directed to prepare a funds deposit instruction to tell IB that one is depositing funds. Did you need to do that when you do the online transfer?
Thank you.