Interactive Brokers - SGD now available for funding

[stu4rt86]

Thank u!! Will call to close the acct tmr .. wtf cant believe i held it for more than 10 yrs with no trading

You can add and choose which bank account to credit to in the settings on the CDP website.

If DBSV account is closed, it doesn't affect anything that is already in CDP.

 

[reddevil0728]

Thank u!! Will call to close the acct tmr .. wtf cant believe i held it for more than 10 yrs with no trading

But if you are only buying SGX, u should not have to pay any fee what. you got buy stocks from other countries?

 

[crystalnox]

do u call the helpline to request the migration?

No, you just need to access your account management and find an option for transferring account on the IB LLC side. Names and trading permissions on both accounts need to match.

Edit: Step by step instructions here
https://www.interactivebrokers.com/...B0byBJQktSIFNpbmdhcG9yZT8=?articleId=23298986

 

[smoothtalker]

I’ve some currencies like HKD in my brokerage account. How can I mange this idle HKD? Is there some mmf/elf I can buy without much cost? Thanks

 

[stu4rt86]

But if you are only buying SGX, u should not have to pay any fee what. you got buy stocks from other countries?

ohhh.. i nv buy stocks from other countries using dbs vickers... means i no need pay any fee if i am just holding sg stocks?

 

[Shiny Things]

I’ve some currencies like HKD in my brokerage account. How can I mange this idle HKD? Is there some mmf/elf I can buy without much cost? Thanks

If you don't need the HKD for anything in particular, it's better to convert it back to SGD.

 

[smoothtalker]

If you don't need the HKD for anything in particular, it's better to convert it back to SGD.

wow it's Shiny. I need the HKD for trading HKEX but sometimes it's just idling there.. since conversion incur cost too, i am thinking is there anyway to reduce fx risk without converting. SGD and USD are seems easier to manage with mmf/elf/bills

 

[4D.TOTO&BS]

Does the standard incoming fee of 10 sgd applies for this account too?

No. But you can always double check with bank. I've received both SGD and USD in My Account.

 

[hin999]

I open a account recently, realised I cannot trade in sgx stocks, and was told by the help desk likely the account was open under the US entity and not the sg entity. Anyone had any experience whether can transfer the us account over?

 

[reddevil0728]

ohhh.. i nv buy stocks from other countries using dbs vickers... means i no need pay any fee if i am just holding sg stocks?

Yep. Cause it goes into CDP. And not with them.

 

[reddevil0728]

No. But you can always double check with bank. I've received both SGD and USD in My Account.

No inward remittance fee for FCY?

 

[reddevil0728]

I open a account recently, realised I cannot trade in sgx stocks, and was told by the help desk likely the account was open under the US entity and not the sg entity. Anyone had any experience whether can transfer the us account over?

How recent is recent?

If it’s really recent, it should be with the sg entity already.

If you got nothing to transfer, just open a new account.

Anyway tou can validate If your account is with the us entity or the sg entity by looking at the entity name at the top of the report you can run

 

[4D.TOTO&BS]

No inward remittance fee for FCY?

The inward transfer was from FSM1 whereas overseas transfer could be different case. My initial concern was to transfer USD from FSM1 to my local account so not involved overseas fund transfer.

 

[hin999]

How recent is recent?

If it’s really recent, it should be with the sg entity already.

If you got nothing to transfer, just open a new account.

Anyway tou can validate If your account is with the us entity or the sg entity by looking at the entity name at the top of the report you can run

Open this month Oct only, the reports say iB LLC... Seems like is us entity.. Sianz why they open under us

 

[reddevil0728]

Open this month Oct only, the reports say iB LLC... Seems like is us entity.. Sianz why they open under us

so strange. are you in Singapore and Singaporean?

 

[hin999]

so strange. are you in Singapore and Singaporean?

Yes I am, will try to sort out with them and update u guys

 

[reddevil0728]

Yes I am, will try to sort out with them and update u guys

will be quite good if sgeans in singapore can open a non sg entity account.

Was wondering if you signed up with VPN turned on

 

[hwckhs]

Open this month Oct only, the reports say iB LLC... Seems like is us entity.. Sianz why they open under us

Individual or joint account? Joint account is still under IBKR US.

 

[hin999]

Individual or joint account? Joint account is still under IBKR US.

Oh yes its a joint account... Is this the problem?? So I can't open joint account in sg IB yet? Looks like I'm stuck with scb then

 

[geekroute]

Oh yes its a joint account... Is this the problem?? So I can't open joint account in sg IB yet? Looks like I'm stuck with scb then

Yes, you cant open a joint account in IB SG yet.