Interactive Brokers - SGD now available for funding

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iammole

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Does IB has this type of reporting? Whereby it shows a breakdown of the number of shares traded at each pricing. Ya, if have, the list will be extremely long... but does IB has this? :s11:

2mgr19f.png
 

liuliuwang

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With any other broker it'll be massive, but with IB it's minimal, because you can execute the two trades at interbank rates. Say the spread is two ticks on GBP and five ticks on SGD, that works out to about a twelve-tick full spread on GBPSGD - or very roughly SGD 6 per SGD 10,000 if you combine the buy and sell conversions. Pretty cheap.



This is why you make a will and leave the account details with your lawyer (who presumably will not be a doddering 70-year-old). Leave an instruction that says "here is the username and password; here is a copy of the code card; in the event of my untimely demise, immediately close all my open positions, withdraw the cash, and spend it on hookers and blow". Or "in the event of my untimely demise, just, y'know, the account's yours, do what you want with it, here's how you log in".

You'll have this same issue with any other online broker; it's not unique to IBKR.

haha, LOL, very nice :)
 

winguy

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i just made a withdrawal, and they called me from hong kong to verify my details ... when I asked if this is only for the first withdrawal, they said if i have the security device, then don't need phone verification. And security device is only if your account is >$2000, something like that.

i was like ...
 

iammole

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Yep. The magic googlejuice you're looking for is "time and sales data", and IBKR has this. Here's the IB reference link.

I now realised that this is not a "time and sales" table.

The data that I am looking for is more like a "summary of sales". As in, up to this instance of time, how many shares are sold/buy at a certain price.

reattach the picture here for further opinion:
2mgr19f.png
 

iammole

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If I convert sgd to aud does it means IB will pay me aud interest ?

no, this is not a savings acct so it doesn't earns u any interest. You have to do the sgd/aud or aud/sgd conversion yourself inside IB. So in a way u have a control of what exchange rate. And the spread is very tight.
 

Shiny Things

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If I convert sgd to aud does it means IB will pay me aud interest ?

Yes, but it's not as much as you'd get from a bank: the rate is zero on the first $10k, then RBA cash minus 0.5% (so, 2%) on the remainder.

I now realised that this is not a "time and sales" table.

The data that I am looking for is more like a "summary of sales". As in, up to this instance of time, how many shares are sold/buy at a certain price.

Dunno, off the top of my head. You could build this yourself from the T&S data feed, or have a rummage through the IBKR handbook to see if there's anything along those lines.
 

kent07

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1) Add a USDSGD FX spot line to your TWS window
2) Click the right-hand side of the quote, because you're buying USDSGD - this creates the order
3) Change the amount on the order to however much USD you need
4) Set the Destination to "FXCONV"
5) Hit Transmit
6) Go to the pub.

hi all, just wanted to check if there is a GBPSGD FX spot line available. last i checked, it wasnt available thus i had to do a double currency conversion (eg SGD -> USD -> GBP)
 

ashethen

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The Interactive Brokers broker-dealer is the custodian. That means you're insured by the SIPC for up to $250k of cash and $500k of total equity.

The thing is, though, if anything were to happen, you should get 100% back without even needing to touch the SIPC insurance. Your stocks are owned by you, not by Interactive Brokers, so they should be returned to you; and the cash should be segregated so IB can't touch it. The only reason you wouldn't get a 100% recovery is if there was MF-Global-style illegal commingling of customer funds.

If you've got $100k, and you have Portfolio Margining switched on (as you should, it's great), the rules are slightly different, but you'll want to read up on that separately. (Basically IBKR controls assets equal to your margin debt, something like that.)

May I know if the SIPC insurance cover SGD cash in the IB account as well?
 

Shiny Things

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hi all, just wanted to check if there is a GBPSGD FX spot line available. last i checked, it wasnt available thus i had to do a double currency conversion (eg SGD -> USD -> GBP)

No there isn't, but it shouldn't make a difference - the GBPSGD spot quote would just be derived through the legs anyway.

May I know if the SIPC insurance cover SGD cash in the IB account as well?

Yep.
 

mubz96

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Hi Chiron,

Are you referring to transfers between your OCBC accounts? If Yes, the accounts will need to be linked to your internet banking service first. Please send us a secured email after logging in, in order for us to link up your accounts. Thereafter, you'll be able to perform transfers. If you are intending to transfer from other bank's accounts to OCBC, you'll need to log in to that other bank's internet banking instead. Please note that our bank code is 7339, and the branch code is the first 3 digits of your OCBC account number. You can expect to receive the funds in your OCBC account, within 2-3 business days. Hope this helps!


^Dylan
For OCBC Bank

Hi all. Anyone here try to use ocbc saving account to transfer to IB account?
 

Shiny Things

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I now realised that this is not a "time and sales" table.

The data that I am looking for is more like a "summary of sales". As in, up to this instance of time, how many shares are sold/buy at a certain price.

So, followup: I found the answer to this.

Volume-at-price data is hidden in the BookTrader app. Open up BookTrader for the stock you're interested in, and the histogram over on the right-hand side shows you how much volume's traded at a given price. You can mouse over the histogram to see the exact numbers, as well.

Here's a pic:
booktrader.png
 

neanea

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This topic means I can transfer sgd to IB and if I want to buy US stocks I need to convert sgd to usd in IB then buy the stock?
 

iammole

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So, followup: I found the answer to this.

Volume-at-price data is hidden in the BookTrader app. Open up BookTrader for the stock you're interested in, and the histogram over on the right-hand side shows you how much volume's traded at a given price. You can mouse over the histogram to see the exact numbers, as well.

wow, thanks! you're da man!

This topic means I can transfer sgd to IB and if I want to buy US stocks I need to convert sgd to usd in IB then buy the stock?

1) setup payee to IB indicating your UserID. So that when IB received the fund, they know who is it from.
2) do the transfer
3) inside IB, setup a wire transfer to inform IB that you are transferring XX amt to them. This is to inform IB that there's a fund coming into them.
4) Convert SGD to USD yourself inside IB.
5) Purchase your stock in USD.
6) After sold, your amt remains in USD until u manually convert it back to SGD (or any other currencies)

so u realised that everything which was done for u automatically is now done by yourself. Which also means u have total control over the exchange rates, no longer at the mercy of the spore brokers.

Actually this qns has been brought up b4. Pls read previous posts in this thread.
 

Xdeatel

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Because they're the best brokers on the planet for experienced investors, bar none. Get a load of this:

* $1 per trade in US and European equities;
* $1-$2 per trade in US futures;
* $8 per trade in Singaporean stocks (though Singaporean residents can't trade SG stocks right now - they promise this is coming soon);
* If you want to trade overseas stocks, the currency exchange gets done at mid-market spot, saving you 1-2% on every single trade;
* Access to zillions of asset classes: stocks; options; futures; bonds; FX;
* Their Stock Lending Program lets them lend out your stock and they split the profits with you (no other broker does that);
* Phenomenally cheap margin lending - 2% in any amount for SGD, 1.5% or less for USD.
* They spend A LOT of money on technology for better execution.

On the other hand, Singaporean brokers have crappy web-based execution, charge thirty dollars for a US stock trade that should cost one dollar, charge three times as much for margin lending, rail you on the FX charges... why encourage them?


This.


I have been an interactive broker user for about 2 months now. Some say there is a steep learning curve, but i believe for the current generation, it isnt that hard after all. Took me about 2 days to familiarize with system. After getting hold of how the system works, it is wonderful.

Cheap, efficient (SMART ROUTE SYSTEM), minimal exchange rate cost, access to almost every market in the world with minimal fee.

The tricky part is transferring money to your account. Wiring usually takes 2-3 working days to your account compared to SG Broker of 1 working day.







And to shiny, do you know when they allow trading in SGX? It says I am approve to trade Singapore stock in my "LIst of approved stocks". Hmm?
 

Shiny Things

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And to shiny, do you know when they allow trading in SGX? It says I am approve to trade Singapore stock in my "LIst of approved stocks". Hmm?

Huh. Try actually placing an order (well away from market so you don't get accidentally filled); if it goes through, you'll know you're good. If it gets rejected with a "regulatory restriction" error, you'll know you're still not allowed to trade it.
 
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