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Old 08-10-2019, 05:53 AM   #6496
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Posts: 8,422
How do you track your IWDA unrealised profit and loss in base currency (SGD)? Do we include the commission to buy and for FX (USD/SGD)? I know that there is a portfolio analyst report function provided by IBKR but I would like to have it converted to SGD for the overall picture in my portfolio.
I am still new to this. Please donít shoot me. 😄Thank you!
Your total unrealised pnl is front-and-centre in the app, on the Portfolio screen if you're using the mobile app.

Why are you tracking the PnL, though? Are you actively trading IWDA?

Few more question..
how do I exactly know how much Iíve loaned from IB? Any field to monitor?

As I base my account in SGD, all the margin info are tracked in SGD and It doesnít matter if I buy US or HK stocks (on margin) in foreign currencies?
1) The amount you've borrowed is just your negative cash balance. If you've got a negative cash balance, you're automatically borrowing to fund it.

2) No, the margin balances are tracked in individual currencies. If you have a short USD position, you'll pay one interest rate; a short CHF position, you'll pay another, lower interest rate; a short ZAR position, you'll pay another, much higher interest rate.

not sure whether anyone asked before

1) On IB, how do i earn Premium from selling PUT/CALL option? is it simply just make a sell transaction? i did some googling and found that an individual need to write a CALL/PUT option then Sell to Open. if so, how can i do it on IB?

2) I am on a Margin account, how do i calculate the Initial Margin Requirement needed for a particular transaction?

thanks for reply
1) I think your googling might have led you astray. You just sell an option and you receive the premium; "writing the option" is just slang for selling it.

That said, before you sell options, you absolutely must understand the risk you're taking. When you sell an option, you're effectively selling insurance: your potential loss is basically unlimited, and you only receive a small "insurance" premium in return for that unlimited loss.

I've lost count of the number of people who've come onto the forums shouting that they've discovered this can't-lose strategy of selling options (or any of the number of spot trading strategies that replicate the payoff of a short option) and within a couple of weeks they've lost all their money.

2) It's on the "preview order" screen on desktop or mobile.

Trying to understand the margin account, I have 4000$ SGD worth of US stocks, looking at the margin tab, reg-t is given 2000$ SGD, initial margin 1000$ SGD ... Iím expecting reg-t and initial to be 4000$ SGD since I read on the official info about 2:1 margin (can borrow up to 100% of stock value + cash).
Err, you can borrow up to 100% of your net account value (assets minus liabilities). Usually those are the same thing, but not always.

Any pros here able to teach how to change smart routing to other exchanges on mobile app?

ありがとう。
I don't think you can, but why would you want to? The only reason you'd explicitly route an order is because you want to run some sort of strategy that relies on queue priority, or because you want to capture exchange rebates - and either way, that's not the sort of strategy you want to be running from your phone.
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Old 08-10-2019, 07:54 AM   #6497
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You sill see negative cash balances in your portfolio.

Your HKD or USD balances will have different interest rates.
Many thanks

noted IB will deduct margin interest monthly, does it deduct on the type of currency I borrowed or on the SGD I have?
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Old 08-10-2019, 08:32 AM   #6498
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Many thanks

noted IB will deduct margin interest monthly, does it deduct on the type of currency I borrowed or on the SGD I have?
As I said, the margin balance and interest is per currency you borrowed. Self-quoting here:

the margin balances are tracked in individual currencies. If you have a short USD position, you'll pay one interest rate; a short CHF position, you'll pay another, lower interest rate; a short ZAR position, you'll pay another, much higher interest rate.
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Old 08-10-2019, 08:41 AM   #6499
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Your total unrealised pnl is front-and-centre in the app, on the Portfolio screen if you're using the mobile app.

Why are you tracking the PnL, though? Are you actively trading IWDA?



1) The amount you've borrowed is just your negative cash balance. If you've got a negative cash balance, you're automatically borrowing to fund it.

2) No, the margin balances are tracked in individual currencies. If you have a short USD position, you'll pay one interest rate; a short CHF position, you'll pay another, lower interest rate; a short ZAR position, you'll pay another, much higher interest rate.



1) I think your googling might have led you astray. You just sell an option and you receive the premium; "writing the option" is just slang for selling it.

That said, before you sell options, you absolutely must understand the risk you're taking. When you sell an option, you're effectively selling insurance: your potential loss is basically unlimited, and you only receive a small "insurance" premium in return for that unlimited loss.

I've lost count of the number of people who've come onto the forums shouting that they've discovered this can't-lose strategy of selling options (or any of the number of spot trading strategies that replicate the payoff of a short option) and within a couple of weeks they've lost all their money.

2) It's on the "preview order" screen on desktop or mobile.



Err, you can borrow up to 100% of your net account value (assets minus liabilities). Usually those are the same thing, but not always.



I don't think you can, but why would you want to? The only reason you'd explicitly route an order is because you want to run some sort of strategy that relies on queue priority, or because you want to capture exchange rebates - and either way, that's not the sort of strategy you want to be running from your phone.
Many thanks.

Yup. It is part of a trial strategy, started
a year ago, to get queue priority. Due to some new commitments, need to use ibkr mobile app more often. Unfortunately, not skillful enough to automate.
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Old 09-10-2019, 02:22 PM   #6500
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Hey shiny, regulations wise ibkr should be safe, i feel safe after much research. It is the business side that has changed. What if Charles Schwab buy over ibkr? Ibkr in future could change from a broker to a technology company providing softwares to all.

The ibkr app is good, mine showing ibkr pro now!

Did anyone tried to switch to ibkr lite?
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Old 09-10-2019, 07:26 PM   #6501
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IBKR Tiered Commission

Hi, I just started using IBKR, I have set my account settings to tiered, and this is seen on my Account Settings Page:

Account Type: Cash
Base Currency: SGD
Commissions Pricing Structure: Tiered

However, I am charged SGD2.75 for forex (~1.2k SGD to USD) and USD5 for IWDA (~USD830) as commission on my activity statement. Did I do something wrong?

Thanks in advance!
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Old 09-10-2019, 08:09 PM   #6502
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The change is not immediate. Need to wait. Forgotten if it is a few hours or a few days.

Hi, I just started using IBKR, I have set my account settings to tiered, and this is seen on my Account Settings Page:

Account Type: Cash
Base Currency: SGD
Commissions Pricing Structure: Tiered

However, I am charged SGD2.75 for forex (~1.2k SGD to USD) and USD5 for IWDA (~USD830) as commission on my activity statement. Did I do something wrong?

Thanks in advance!
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Old 09-10-2019, 10:12 PM   #6503
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Posts: 65
The change is not immediate. Need to wait. Forgotten if it is a few hours or a few days.
Mmm, my account was already set to Tiered when I created it. This is the 2nd month I'm buying it, but my trade still reflect the following:

Trades

Oct 9 19:03 Bought 16 IWDA 57.1300
Exchange:LSEETF 914.08
5.00 Commission

Oct 9 19:02 Bought 917 USD 1.38015
Exchange:IDEALPRO 1,265.60
2.77 Commission

I still feel like I did something wrong
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Old 10-10-2019, 12:46 AM   #6504
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Posts: 167
Mmm, my account was already set to Tiered when I created it. This is the 2nd month I'm buying it, but my trade still reflect the following:

Trades

Oct 9 19:03 Bought 16 IWDA 57.1300
Exchange:LSEETF 914.08
5.00 Commission

Oct 9 19:02 Bought 917 USD 1.38015
Exchange:IDEALPRO 1,265.60
2.77 Commission

I still feel like I did something wrong
2.77 for the FX conversion is actually expressed in SGD (even if your base currency is in USD, yes it's confusing...) and this corresponds to 2 USD, so that's correct I think.

Don't know about the 5 USD commission for IWDA though. Have you tried opening a support ticket?
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Old 10-10-2019, 07:11 AM   #6505
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Posts: 2,757
Anyone know how long does it take for IB to transfer money to ur local account after initiating the transfer on fund withdrawal pls?

Sent from Xiaomi Poco F1 using GAGT
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Old 10-10-2019, 07:58 AM   #6506
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Posts: 6,306
Anyone know how long does it take for IB to transfer money to ur local account after initiating the transfer on fund withdrawal pls?

Sent from Xiaomi Poco F1 using GAGT
Around 2-3 business days.
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Old 10-10-2019, 08:04 AM   #6507
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Around 2-3 business days.
Thank u sir

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Old 10-10-2019, 10:07 AM   #6508
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Posts: 65
2.77 for the FX conversion is actually expressed in SGD (even if your base currency is in USD, yes it's confusing...) and this corresponds to 2 USD, so that's correct I think.

Don't know about the 5 USD commission for IWDA though. Have you tried opening a support ticket?
Thanks for the reminder, just spoke to their support chat.. Seems like there was a bug at the account creation which showed tiered commission but it was actually fixed, so I selected tiered again and saved it.. now I got to test it again next month, will report back what happens
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Old 10-10-2019, 11:15 AM   #6509
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Thanks for the reminder, just spoke to their support chat.. Seems like there was a bug at the account creation which showed tiered commission but it was actually fixed, so I selected tiered again and saved it.. now I got to test it again next month, will report back what happens
You should ask for refund of the excess commissions for fixed. Afterall, it was their technical issue and you couldn't have known.
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Old 10-10-2019, 12:21 PM   #6510
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Posts: 23
My friend is Malaysian and has a bank account in Malaysia. Am I able to make use of his bank account to set up a Malaysian based IBKR account to buy both us and sg shares? Does IBKR determine your location via IP or like the bank account that is linked to it?
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