Interactive Brokers - SGD now available for funding - Part 2

[VEF888]

Even before that already can do the same

99% of my transfer to ibkr llc was in the sgd to their citi account.

Wah so you've been letting DBS earn the FX spread all this time?

I think 98% of Singapore IBKR users exchange in IBKR, because it's almost a flat $2 each time.

thanks to all who replied.

have always been sending USD directly to IBKR until now.

test sent 1 SGD to IBKR yesterday and it showed up this morning. 1 SGD, lol.

 

[reddevil0728]

thanks to all who replied.

have always been sending USD directing to IBKR until now.

test sent 1 SGD from to IBKR yesterday and it showed up this morning. 1 SGD, lol.

lol. dbs love you dip dip. but now no longer?

when did you start using ibkr?

 

[highsulphur]

thanks to all who replied.

have always been sending USD directly to IBKR until now.

test sent 1 SGD to IBKR yesterday and it showed up this morning. 1 SGD, lol.

You are paid in usd? Why do you have usd?

 

[VEF888]

lol. dbs love you dip dip. but now no longer?

when did you start using ibkr?

You are paid in usd? Why do you have usd?

yeap, was paid in USD due to an expat assignment, that's why I have a stash of USD, have been with IBKR for ages.

 

[reddevil0728]

yeap, was paid in USD due to an expat assignment, that's why I have a stash of USD, have been with IBKR for ages.

ah maybe you haven't been exploring since your first initiation...

well never too late

 

[CrashWire]

How you know they stats?

I just anyhow. Since IBKR supports Wise linkage, I'm sure there are a few others who might convert in Wise beforehand as well.

 

[sgstab]

I just anyhow. Since IBKR supports Wise linkage, I'm sure there are a few others who might convert in Wise beforehand as well.

Can we FAST t/r SGD to ibkr SG acct?
Then using ibkr change to USD or other currencies?
Newbie to ibkr, going to open a ibkr account soon.
TIA

 

[reddevil0728]

Can we FAST t/r SGD to ibkr SG acct?
Then using ibkr change to USD or other currencies?
Newbie to ibkr, going to open a ibkr account soon.
TIA

isn’t that what someone just asked above???

 

[demoforce1]

I just anyhow. Since IBKR supports Wise linkage, I'm sure there are a few others who might convert in Wise beforehand as well.

wise rate for SGD->USD better than IBKR?

 

[reddevil0728]

wise rate for SGD->USD better than IBKR?

Don’t think any can beat IBKR

 

[sgstab]

Anyone here just put money in ibkr account to make passive usd interest?
Coz wife is planning to pay off the final portion of our approximately $100,000 HDB mortgage (2.6%). However, I noticed that if your IBKR account exceeds $100,000usd, the interest rate is close to 4%.

 

[highsulphur]

Anyone here just put money in ibkr account to make passive usd interest?
Coz wife is planning to pay off the final portion of our approximately $100,000 HDB mortgage (2.6%). However, I noticed that if your IBKR account exceeds $100,000usd, the interest rate is close to 4%.

You will face exchange rate risk for that higher interest

 

[sgstab]

You will face exchange rate risk for that higher interest

Understand the risk of FX, especially there is timing to face FED cut rate. Tks pal.

 

[reddevil0728]

Understand the risk of FX, especially there is timing to face FED cut rate. Tks pal.

arbitrage is not so straightforward, if not everybody do it liao

 

[CrashWire]

Anyone here just put money in ibkr account to make passive usd interest?
Coz wife is planning to pay off the final portion of our approximately $100,000 HDB mortgage (2.6%). However, I noticed that if your IBKR account exceeds $100,000usd, the interest rate is close to 4%.

I think better to buy IB01 if you want to do low risk USD savings.

 

[reddevil0728]

I think better to buy IB01 if you want to do low risk USD savings.

But changing sgd into usd just because usd interest is higher is not really that low risk in the first place?

 

[sgstab]

I think better to buy IB01 if you want to do low risk USD savings.

Most probably I will DCA 70% to VUSA, CSPX etc similar etf. The rest may go like brk.b as satellite.
like some laojiao said, just periodically put money to S&P 500 like saving insurance, u will be surprised in future.

 

[tehhalia]

hi, i have set up a lite account in IB and am looking to DCA into VWRA monthly.

May I know what is the most cost efficient amount per trade? I saw on IB website that the fee is 0.08% subject to a min of USD 2. That means I should trade min USD2500 for cost efficiency? Not sure if I missed interpreted anything wrongly.

Separately, I need to convert sgd to usd to buy VWRA. The currency conversion fee I saw on their website was 0.002% subject to a minimum of USD 2. I don’t think I have 100k to change every dca so USD 2 it is.

So, to buy USD2500 VWRA monthly, my cost is USD 2 + 2 + 9% gst = about 5.60 SGD? Not sure if I missed out any other fee or charges.

 

[reddevil0728]

hi, i have set up a lite account in IB and am looking to DCA into VWRA monthly.

May I know what is the most cost efficient amount per trade? I saw on IB website that the fee is 0.08% subject to a min of USD 2. That means I should trade min USD2500 for cost efficiency? Not sure if I missed interpreted anything wrongly.

I am not sure how you are seeing 0.08% subject to a min of USD 2.

and it appears that whether Lite or Pro account for IB on LSE has no bearing on cost. But rather whether Tiered or Fixed has.

You are on which?

https://www.interactivebrokers.com.sg/en/pricing/commissions-stocks-europe.php?re=europe#:~:text=Switzerland - Examples-,UNITED KINGDOM,-GBP Denominated

Separately, I need to convert sgd to usd to buy VWRA. The currency conversion fee I saw on their website was 0.002% subject to a minimum of USD 2. I don’t think I have 100k to change every dca so USD 2 it is.

You mean you definitely don't have right? or you mean you have a chance to have 100k?

So, to buy USD2500 VWRA monthly, my cost is USD 2 + 2 + 9% gst = about 5.60 SGD? Not sure if I missed out any other fee or charges.

thereabouts but should be more like 1.7 rather than 2 if u go with tiered

 

[tehhalia]

Ah ok! I went to look at “Singapore” instead of UK.
And right I do not have 100k to convert to USD, just a few K from monthly saving to DCA.
Thanks for pointing out!