Interactive Brokers (IBKR)

[Tormented Soul]

Find the interface Abit hard to understand to be honest but comms is cheap

 

[thisislife]

Tiger as well

oh is it? then i think good idea to shift to IBKR as well liao

so tigerbroker can let me buy stocks in PM, right? i mean not just order, but BUY it actually

 

[icoolboy123]

So it is now possible to buy SG Listed stocks on IBKR with the awesome conversion fees for forex on IBKR?!

Wow, does anyone know how to link IBKR account to CDP account. I don't think I have read anything on that yet. Or is it still purely custodian? D:

 

[reddevil0728]

So it is now possible to buy SG Listed stocks on IBKR with the awesome conversion fees for forex on IBKR?!

Wow, does anyone know how to link IBKR account to CDP account. I don't think I have read anything on that yet. Or is it still purely custodian? D:

Not yet.

Likely custodian

 

[crystalnox]

So it is now possible to buy SG Listed stocks on IBKR with the awesome conversion fees for forex on IBKR?!

Wow, does anyone know how to link IBKR account to CDP account. I don't think I have read anything on that yet. Or is it still purely custodian? D:

No way it's gonna be CDP. No CDP option now for foreigners trading SGX either.

 

[Chisaki]

Anyone using this platform to trade? Can share if this is user friendly and comm is fair enough?

the fees is fair if u got >100k aum or if u lower than 25 years old... otherwise stick to saxo. $10 usd inactivity fee.... a month for ibkr. so if u dont dca large sum every month (few k) then just use saxo or robo.

also i want to complain, ive never seen a single exchange where their user interface is as bad as ibkr.... back in 2017/2018 when i was trading crypto... even the crypto exchange is 10x better than ibkr... i want load prices on webpage also cannot... haizz really so many problems. but i guess u get what u pay for.

 

[crystalnox]

the fees is fair if u got >100k aum or if u lower than 25 years old... otherwise stick to saxo. $10 usd inactivity fee.... a month for ibkr. so if u dont dca large sum every month (few k) then just use saxo or robo.

also i want to complain, ive never seen a single exchange where their user interface is as bad as ibkr.... back in 2017/2018 when i was trading crypto... even the crypto exchange is 10x better than ibkr... i want load prices on webpage also cannot... haizz really so many problems. but i guess u get what u pay for.

IB is considered a "discount broker", something like the Value$/Giant of the brokerage world. You get an unfriendly UI with not that great CS in return for low costs.

 

[BBCWatcher]

also i want to complain, ive never seen a single exchange where their user interface is as bad as ibkr....

Which one? They offer 5 trading user interfaces, not counting the third party user interfaces that are also available. Their 5 are Portal, Web Trader, Trader Workstation (TWS) Mosaic, Classic TWS, and IBKR Mobile. Don’t like the one you’re using? Pick another!

 

[Chisaki]

Which one? They offer 5 trading user interfaces, not counting the third party user interfaces that are also available. Their 5 are Portal, Web Trader, Trader Workstation (TWS) Mosaic, Classic TWS, and IBKR Mobile. Don’t like the one you’re using? Pick another!

Web&mobile are the ones I use. But like I said - there are cryptocurrency exchanges which have better web & ui exchanges lmao

 

[reddevil0728]

Web&mobile are the ones I use. But like I said - there are cryptocurrency exchanges which have better web & ui exchanges lmao

Cryptocurrency is like so much more recent? You would have expected better what.

 

[Chisaki]

Cryptocurrency is like so much more recent? You would have expected better what.

i would expect an established operation like ibkr to provide a superior platform than new players with less funding.

 

[Mulyc4Prez]

Just use Tiger Brokers.

You're taking a bit of a risk as it's a China company but YOLO.

Tiger a bit scary leh, seems like they have red flag in mainland and NZ Regulators. See those tiger threads have the links.

 

[InterestingStuff]

the fees is fair if u got >100k aum or if u lower than 25 years old... otherwise stick to saxo. $10 usd inactivity fee.... a month for ibkr. so if u dont dca large sum every month (few k) then just use saxo or robo.

also i want to complain, ive never seen a single exchange where their user interface is as bad as ibkr.... back in 2017/2018 when i was trading crypto... even the crypto exchange is 10x better than ibkr... i want load prices on webpage also cannot... haizz really so many problems. but i guess u get what u pay for.

the UI at IBKR is for professional who do all sorts of spreads, basket , volatility screening etc , the problem is the color scheme is stuck in the windows 95 era, although mosaic would probably be better, but i find it quite lag. also i find myself having to create many pages (over 10 including portfolio) so i dont exceed the 100 simultaneous quotes , very powerful to see many quotes from different markets at single click

non professional will go for easy and simple UI like those simple crypto exchange. one sided trading

usually i use booktrader for quick entry orders
if i need to check on how much money for the trade, i usually right click and use order ticket , or you can click on the order button on top

 

[Shiny Things]

IB is considered a "discount broker", something like the Value$/Giant of the brokerage world. You get an unfriendly UI with not that great CS in return for low costs.

I'd put it slightly differently. IB is more like Costco.

IB is a professional broker, not so much a "discount broker". They're not like Robinhood or E*Trade, targeting individual traders; IBKR's focus is on professional traders, hedge funds, wealth managers. They need great execution and great liquidity; they need large sizes; and they need efficiency and great back-office tools.

Going to IBKR is like going to Costco. If you're a business, Costco is amazing, because you can buy everything you need for your business in industrial size. And it also happens to be really great for retail shoppers who need business-size amounts of anything!

 

[Mecisteus]

Cryptocurrency is like so much more recent? You would have expected better what.

Must make the platform nice so that can attract more suckers into cryptos.

I only care for the low cost and ease of funding in IB.

 

[boroangel]

just wondering if anyone has any updates on the SIPC protection on USD cash in IBKR?

Anyone knows if there will be entity change for current IBKR users to SG such that the SIPC protection on cash balances in IBKR is not longer available?

 

[reddevil0728]

just wondering if anyone has any updates on the SIPC protection on USD cash in IBKR?

Anyone knows if there will be entity change for current IBKR users to SG such that the SIPC protection on cash balances in IBKR is not longer available?

seems like no sound no din yet

 

[ridiculofje00]

use the ibkr desktop app instead of web app? its pretty good what.

normally for cfd, i use IG(for sg+hk), Saxo for US. N IBKR for options. Poems as back up for stocks

 

[BBCWatcher]

just wondering if anyone has any updates on the SIPC protection on USD cash in IBKR?

Anyone knows if there will be entity change for current IBKR users to SG such that the SIPC protection on cash balances in IBKR is not longer available?

Interactive Brokers Singapore Pte. Ltd. is most definitely NOT a member of the U.S. Securities Investor Protection Corporation (SIPC). If/when your brokerage account is with Interactive Brokers Singapore Pte. Ltd., then your account will not be SIPC insured. The following broker entities are also not SIPC members, although in some cases they are members of another country's insurance scheme:

Interactive Brokers Canada Inc.
Interactive Brokers U.K. Limited
Interactive Brokers Luxembourg SARL
Interactive Brokers Australia Pty. Ltd.
Interactive Brokers Hong Kong Limited
Interactive Brokers India Pvt. Ltd.
Interactive Brokers Securities Japan Inc.

Among the Interactive Brokers entities, Interactive Brokers LLC is the one that's a U.S. SIPC member. Residents of Singapore who have Interactive Brokers accounts are currently (as I write this) doing business with Interactive Brokers LLC.

 

[boroangel]

Interactive Brokers Singapore Pte. Ltd. is most definitely NOT a member of the U.S. Securities Investor Protection Corporation (SIPC). If/when your brokerage account is with Interactive Brokers Singapore Pte. Ltd., then your account will not be SIPC insured. The following broker entities are also not SIPC members, although in some cases they are members of another country's insurance scheme:

Interactive Brokers Canada Inc.
Interactive Brokers U.K. Limited
Interactive Brokers Luxembourg SARL
Interactive Brokers Australia Pty. Ltd.
Interactive Brokers Hong Kong Limited
Interactive Brokers India Pvt. Ltd.
Interactive Brokers Securities Japan Inc.

Among the Interactive Brokers entities, Interactive Brokers LLC is the one that's a U.S. SIPC member. Residents of Singapore who have Interactive Brokers accounts are currently (as I write this) doing business with Interactive Brokers LLC.

Hi yes, had the IBKR account last year so that should be with Interactive Brokers LLC. Just wondering if we will be forced to convert to Interactive Brokers Singapore Pte. Ltd as Singaporeans. This part I am unsure of and I have not received any notifications from IBKR yet.