Interactive Brokers - SGD now available for funding - Part 2

[chienwei]

Anyone uses "interactive brokers" for trading stocks?

http://www.interactivebrokers.com/ibg/main.php

Claims to have very low trading fees, but the description seems complicated, anyone has any experience with this company?

 

[chienwei]

Reserved for updates.

 

[hwzadmin]

This is a continuation thread, the old thread is here

 

[Hippocrates]

Is it still possible to create a link account under IBKR LLC?

I just realised that SIPC protection is capped at $500k per capacity... so I'm thinking of opening a new joint account (so that it will be considered as a different capacity), transfer the excess over and continue monthly DCA from the new account. Would that still be allowed as new account opening are directed to IBKR SG now?

 

[reddevil0728]

Is it still possible to create a link account under IBKR LLC?

I just realised that SIPC protection is capped at $500k per capacity... so I'm thinking of opening a new joint account (so that it will be considered as a different capacity), transfer the excess over and continue monthly DCA from the new account. Would that still be allowed as new account opening are directed to IBKR SG now?

If not wrong joint is directed to IBKR LLC. SG 1 don't have joint.

 

[chienwei]

omg. a thread i started has a new part... nice.

 

[curiousotter]

Interest on cash balances

Hi,

Does anyone know if we can get interest on the cash held in our IBKR accounts? i.e. are the cash balances invested in some kind of money market funds?

TIA!

 

[Inediblebulk]

Hi,

Does anyone know if we can get interest on the cash held in our IBKR accounts? i.e. are the cash balances invested in some kind of money market funds?

TIA!

Yes on some currency but very low or even negative interest on some.

https://www.interactivebrokers.co.uk/en/?f=interest&p=schedule

 

[The_Dark]

Hi Guys,

Apologies as i have asked a similar question previously, but was not really answered.

I opened an account but not ready to buy anything yet, have about 3k SGD inside now, to avoid paying 10USD for inactive account, can i request for a suspension of account till i am ready to trade?

Thanks.

 

[reddevil0728]

Hi Guys,

Apologies as i have asked a similar question previously, but was not really answered.

I opened an account but not ready to buy anything yet, have about 3k SGD inside now, to avoid paying 10USD for inactive account, can i request for a suspension of account till i am ready to trade?

Thanks.

Don’t think u can suspend, but check with their support team

 

[sunbox]

ADR Pass through fees. I got notification that I may need charged ADR fees for purchasing BABA stock through IBKR. Not sure why fees is being charged for BABA but for not other stocks.

 

[Inediblebulk]

ADR Pass through fees. I got notification that I may need charged ADR fees for purchasing BABA stock through IBKR. Not sure why fees is being charged for BABA but for not other stocks.

ADR have extra charges but its not alot

 

[reddevil0728]

ADR Pass through fees. I got notification that I may need charged ADR fees for purchasing BABA stock through IBKR. Not sure why fees is being charged for BABA but for not other stocks.

You have other stocks that are ADR?

 

[BBCWatcher]

ADR have extra charges but its not alot

For BABA ADRs it looks like it’s 2 cents (US$0.02) per ADR per year. And it’s billed on the last trading day in April.

If you have “petty cash” in your account, your broker should draw from that cash to handle the ADR fee. For some strange reason I had some ADRs but zero cash in the account (and not a margin account), and the ADR fee got charged. My broker wasn’t fussed about it. The broker just put the fee on the account as a tiny minus sign, with zero interest charge, then simply waited for any cash (such as a cash dividend from any security) to come in to settle the negative pennies. I didn’t even notice it happened until well after the fact. Even so, it’s best to keep a little petty cash on account if you have ADRs and could cross the fee billing date.

 

[sunbox]

You have other stocks that are ADR?

Yes. Few other US listed stocks.

 

[sunbox]

For BABA ADRs it looks like it’s 2 cents (US$0.02) per ADR per year. And it’s billed on the last trading day in April.

If you have “petty cash” in your account, your broker should draw from that cash to handle the ADR fee. For some strange reason I had some ADRs but zero cash in the account (and not a margin account), and the ADR fee got charged. My broker wasn’t fussed about it. The broker just put the fee on the account as a tiny minus sign, with zero interest charge, then simply waited for any cash (such as a cash dividend from any security) to come in to settle the negative pennies. I didn’t even notice it happened until well after the fact. Even so, it’s best to keep a little petty cash on account if you have ADRs and could cross the fee billing date.

Thanks BBCW. Fees seems to be very low. May I know what this fees is?

Also, I got international trading Charles Schwab account from my company. They charge 0$ fees as commission and theor SGD to USD exchange rates are also good, however, it takes 3-5 days for transfer to happen. I was wondering if it is worth to move my stocks from IBKR TO Charles Schwab.

 

[reddevil0728]

Yes. Few other US listed stocks.

A fee will be charged for ADRs that don’t pay dividend. Baba being one of them. Maybe the rest you know are dividend paying hence u don’t see a separate fee

 

[tchen003]

Have 100k USD FD matured soon. Thinking of opening IBKR account due to lowest cost it can provide.

Questions:

1) how to transfer USD from DBS MCA to IKBR with minimum fee?

2) is there any recommendations of money market product/bond which will provide 1-2% return pa for me to park the cash in IKBR while I can take my time to DCA?

3) am interested in IWDA and EIMI. Given current stock bubble, how much should be invested in both instruments? How to perform rebalance bi-annually?

I have a 20-30 year investment horizon ahead.

 

[reddevil0728]

Have 100k USD FD matured soon. Thinking of opening IBKR account due to lowest cost it can provide.

Questions:

1) how to transfer USD from DBS MCA to IKBR with minimum fee?

2) is there any recommendations of money market product/bond which will provide 1-2% return pa for me to park the cash in IKBR while I can take my time to DCA?

3) am interested in IWDA and EIMI. Given current stock bubble, how much should be invested in both instruments? How to perform rebalance bi-annually?

I have a 20-30 year investment horizon ahead.

1) dbs remit is free but suggest to transfer $1 for the first time to confirm u did it right before the rest

2) I don’t think non us resident got access to mutual fund. In any case int he absence of that maybe can leave the money in dbs to earn some interest in USD before transferring cause ibkr got no interest at all

3) how you know is a bubble? If you are willing to invest all 100k then just go by the ratio?

 

[tchen003]

1) dbs remit is free but suggest to transfer $1 for the first time to confirm u did it right before the rest

2) I don’t think non us resident got access to mutual fund. In any case int he absence of that maybe can leave the money in dbs to earn some interest in USD before transferring cause ibkr got no interest at all

3) how you know is a bubble? If you are willing to invest all 100k then just go by the ratio?

DBS offer a interest rate of 0.3% and 1.28% for my 2 USD FD accounts. nonetheless, still better than 0.

In terms of bubble, due to the simulation package prepared by Uncle Sam and also look at buffet index (177%)

bubble or not am not sure, but at least, now it may not be cheap.

Seeking your advice on how I should get my feet wet in today’s “not so cheap” stock era.

Thanks!