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Interactive Brokers - SGD now available for funding

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Old 19-02-2018, 12:26 PM   #3646
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Does anyone know which is the figure for maintenance margin? Is it Buy Power?
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Old 19-02-2018, 01:02 PM   #3647
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Yes, I tried US market and my orders can easily be filled, and I'm able to select the orders to be 'filled outside trading hours'. But apparently for HK market, there is only 'DAY', 'GTC' and 'OPG', there is no box for me to check for 'FILLED OUTISDE TRADING HOURS'.

And I realized for CFDs for US market, my orders cannot filled outside trading hours also, is it normal? But if I try to buy as normal stock, I can check the box.
I’m going to guess that it’s because there are a plethora of US trading venues that allow out-of-hours trading (e.g. I think Nasdaq’s matching engines operate from 4am to 8pm Eastern), but nobody offers that out-of-hours trading for the HK market.

For CFDs, the market operates whenever IBKR says it operates, because a CFD is just a contract between you and IBKR. And they’ve said “we’re only going to let you trade CFDs in regular market hours”.

Does anyone know which is the figure for maintenance margin? Is it Buy Power?
It’s “Maintenance Margin”. Am I missing something?

Is it possible to make use of the fx rate by creating an account, transferring money in, convert, transfer out and then canceling the account?

Rinse and repeat whenever you need to do it to avoid the monthly fee?
I mean, you can, but like pupsky says, isn’t that going to be a giant pain in the proverbial? How often are you doing these transfers, and how big are they?

Need advise on getting quote for the following currency pair;
SGD:CNY
SGD:KRW
SGD:THB
SGD:AUD

Doable in IB?
AUDSGD: yep, you need to do it as an AUDUSD trade and a USDSGD trade.

SGDCNY: yep, if you’re talking offshore (CNH) rather than onshore (CNY).

SGDKRW, SGBTHB: no. You can get a quote for USDKRW, but you’re only allowed to trade KRW on IBKR to repatriate profits/losses from your Korean futures/options trading, not to actually punt the currency.

If you want to punt KRW or CNY, I think there are CME-listed futures for both of those.
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Old 20-02-2018, 06:11 AM   #3648
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AUDSGD: yep, you need to do it as an AUDUSD trade and a USDSGD trade.

SGDCNY: yep, if you’re talking offshore (CNH) rather than onshore (CNY).

SGDKRW, SGBTHB: no. You can get a quote for USDKRW, but you’re only allowed to trade KRW on IBKR to repatriate profits/losses from your Korean futures/options trading, not to actually punt the currency.

If you want to punt KRW or CNY, I think there are CME-listed futures for both of those.
Thanks for sharing. No not for FX trading. Just want to keep an eye on currency movement. I will use the old good and free Yahoo Finance.
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Old 20-02-2018, 11:07 AM   #3649
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Quick question:

My trader workstation account says that I am holding:

"ISHARES*CORE*MSCI*WORLD
Underlying:IWDA
Security Type: STK
ISIN: IE00B4L5Y983
Currency: USD
Exchange: SMART
Primary Exchange: LSEETF
Symbol:IWDA
Issuer Country:IE**
Stock type: ETF"

but my statements in my IB under account manager online say im holding: "SWDA"

am I doing something wrong here? Cheers!
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Old 20-02-2018, 12:19 PM   #3650
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IWDA and SWDA are the same ETF (same underlying stock holdings), just quoted in different currencies (U.S. dollars or British pounds). As long as you know which currency you're consistently using to buy/sell that ETF, no problem.
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Old 20-02-2018, 11:41 PM   #3651
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cheers thanks BBCWatcher
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Old 22-02-2018, 12:28 AM   #3652
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Base currency

Hi guys, can I seek some advice between the difference by selecting the base currency (when setting up IB account) as USD or SGD?

I've done mine as SGD, and was reading in upthread that there might be problems with conversion of the commission charges etc etc.

Can someone advice if it okay to leave it as SGD, or should I contact customer service to switch my base currency to USD? (I will be funding the account in SGD, then converting to USD to buy IWDA)

Thanks alot in advance!
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Old 22-02-2018, 09:20 PM   #3653
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Hi all

after I have learned to convert currencies using IB, I think probably I should consider using the USD to buy some US stocks instead of converting to SGD now as the rate for USD is not great.

From what I read here, there is a withholding tax for dividence of US stocks (which will be deducted automatically). Apart from that, could any sifus here share the step by step to buy US stocks using IB? I am an absolute beginner and the main reason I want to buy US stocks is I have USD in IB now and USD seems cheap at the moment. I just thought to start something small, so that I could sustain the 10 dollar commission each month while having a stock portfolio to grow. Appreciate any pointers for newbies like me. If possible I would not subscribe any market data but use yahoo finance? How many units of share can I buy minimally each time?

Thanks.
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Old 22-02-2018, 09:35 PM   #3654
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Hi guys, can I seek some advice between the difference by selecting the base currency (when setting up IB account) as USD or SGD?

I've done mine as SGD, and was reading in upthread that there might be problems with conversion of the commission charges etc etc.

Can someone advice if it okay to leave it as SGD, or should I contact customer service to switch my base currency to USD? (I will be funding the account in SGD, then converting to USD to buy IWDA)

Thanks alot in advance!
It is ok to leave it as SGD. Just leave some spare change SGD there in cash, like $100 or so to take care of monthly fee.

Sent from Xiaomi REDMI NOTE 4 using GAGT
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Old 22-02-2018, 09:41 PM   #3655
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oh so the monthly fees will be deducted from whichever currency that is set as the base currency?
i.e. if i set SGD as base currency, then monthly fee will deducted from my SGD balance, and vice versa for USD.

How about the commission charges? If my base currency is SGD, will commissions be reflected in SGD and taken out of my SGD balance?
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Old 22-02-2018, 11:48 PM   #3656
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oh so the monthly fees will be deducted from whichever currency that is set as the base currency?
i.e. if i set SGD as base currency, then monthly fee will deducted from my SGD balance, and vice versa for USD.

How about the commission charges? If my base currency is SGD, will commissions be reflected in SGD and taken out of my SGD balance?
Monthly fee and other subscription fees like market data is base currency. Commission and other trade specific fees are in the same currency in which the trade was executed.

Sent from Xiaomi REDMI NOTE 4 using GAGT
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Old 24-02-2018, 10:44 AM   #3657
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hi guys,

Been using IB for quite sometime now, couple of things i would like to highlight
Wish they have better notification and clearer statements?
How do u guys keep track

First thing is:
1. Margin $$ deduction & calculation:- Apparently they just auto deduct from your balance; to be honest i have no idea how much they deduct or the margin deducted is for how many days borrowed or amt borrowed not unless i go deep dive into my portfolio statements & every line item compare. Even so with all the buying & selling plus interest received from cash holdings. Accurred interest +- all lump together totally cant track

2nd is
Dividends notification. Is there anyways to notify us that we are receiving dividend or dividend paid on the particular date? eg Apple dividend was paid out recently; i wasnt aware & just remembered recently; so had to go backtrack my portfolio statement to check how much i receive after div tax reduction.

it'll be great if they have email notification for the above; do they? or that i am not aware of

Last edited by J_Vansen_S; 24-02-2018 at 10:48 AM..
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Old 24-02-2018, 01:10 PM   #3658
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With SCB now a subsidiary in Singapore, and still fully backed by Temasek, i feel they are more stable for long term ETF holdings than IBK? Where will IBK be in 20 years time for our retirement DCA withdrawal...
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Old 24-02-2018, 02:57 PM   #3659
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With SCB now a subsidiary in Singapore, and still fully backed by Temasek....
Whoa, Temasek is just a minority shareholder. That's it. There's no backing, much less any full backing. And StanChart has not been a good investment for Temasek. Temasek is sitting on substantial paper losses in StanChart.

Also, at least in the markets I'm familiar with, IB is a broker. It facilitates purchases and sales of securities, and your securities are held in your name in the depository, not at IB. You have individual title to your securities. That seems to be quite different than StanChart, which appears to act as a custodian, holding shares itself and then maintaining books to apportion those shares. That's inherently riskier.

IB is U.S. based and regulated, SIPC insured, and has been doing business for 40 years. It owns 40% of OneChicago, the big futures exchange in the U.S. As I write this, IB (symbol IBKR on the NASDAQ) has a slightly larger market capitalization than Standard Chartered plc (STAN on the LSE).
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Last edited by BBCWatcher; 24-02-2018 at 03:06 PM..
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Old 24-02-2018, 04:00 PM   #3660
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Market Data

Hi to all Seniors..
Newbie here. Will like to ask a couple of questions and hope can get some advices

I intend to trade Future (ES), US stocks, and option.

1) Do IB provide free data for the above market?

2) If not, which data subscription should I apply and how much?

3) Is it possible to day trade without real time date?

Thanks.
Cheng
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