Interactive Brokers - SGD now available for funding

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Heidel

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Interactive Broker BookTrader

This is the first time I am trying out the Interactive Broker BookTrader for trading futures contract. And I found that the Buy/Sell entry order (price level) is not clearly shown on the BookTrader Price Ladder column. Also the P&L column is in dollar value (stock based) For Futures contract, it will be much better to track P&L in ticks.

An illustration that was prepared by me was sent today to Interactive Brokers thru message center requesting 3 features for review. Hopefully, they seriously look into it and have this requested features make available on the BookTrader for traders who need these features.

For those with IB account, if you like what you see, you can also support for these features by sending a request to IB as well. Save the image and sent it by login to your Account Management, click support and choose Message Center and you can attach image to make this request.

More IB account users support this, the high chance of getting the requested features.

Here is the link to see the illustration.
http://charts.dacharts.net/2016-01-15/IB_BookTrader_Suggestion.png
 

dengg2k

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How come i just received a email that my account had been approved but with any funding instruction. I mean i cannot find their citi acc number...

What a huge thread..full of information. I just got approved for my application and I'm ready to fund. I read that some of you were able to start trading even though the first deposit was <USD 10k, due to the grace period or something. is that true?

also, does TWS settings have a quick way to turn all backgrounds from black to white? seems I can only do this for the chart.
 

zaark98

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is there another forum where Singapore IB users gather and share information? or do some of you visit another forum where people share IB tips/info?
 

RetRace

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Hi all,

I know this question might have been answered before but i crawled through here and google but can't find the answer.

Is it the right time to move from trading USD denominated products from SCB to IB when we have more than USD100k OR the monthly commission for trading them is at least USD10?

The commission rate from the IB page does not show the rate for USD denominated products from london stock exchange, am I looking at something wrong here? Any advice is appreciated. Thanks!

P.S: I am referring to the tiered pricing. Fixed pricing it says 0.05% of trade value and min order USD$5
 
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limster

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Hi all,

The commission rate from the IB page does not show the rate for USD denominated products from london stock exchange, am I looking at something wrong here? Any advice is appreciated. Thanks!

At least you tried. I also asked somewhere in this thread before as well.

For tiered pricing the answer is: 0.08% and minimum US$1.94
 

trento

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Hi all,

I know this question might have been answered before but i crawled through here and google but can't find the answer.

Is it the right time to move from trading USD denominated products from SCB to IB when we have more than USD100k OR the monthly commission for trading them is at least USD10?

The commission rate from the IB page does not show the rate for USD denominated products from london stock exchange, am I looking at something wrong here? Any advice is appreciated. Thanks!

P.S: I am referring to the tiered pricing. Fixed pricing it says 0.05% of trade value and min order USD$5

what u trade in? stocks only? if so, can stick to SCB. simply go for the one with the lowest comm. i trade options. hence i use thinkorswim, currently known as Tdameritradeasia.
 

Shiny Things

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Is it the right time to move from trading USD denominated products from SCB to IB when we have more than USD100k OR the monthly commission for trading them is at least USD10?

You could probably do the math on the commissions cutover (at what point does IB's fixed pricing become cheaper than Stanchart's 0.2%, it's like 7:30am here and my coffee hasn't kicked in and I can't be stuffed doing the math myself), but basically yeah, as soon as you hit the $100k USD mark you might as well move up to Interactive.

what u trade in? stocks only? if so, can stick to SCB. simply go for the one with the lowest comm. i trade options. hence i use thinkorswim, currently known as Tdameritradeasia.

If you're looking for the broker with the lowest commission, why are you using TDA? IB charges $0.70 per contract with a $1 minimum.
 

newjersey

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yup, Shiny Things is right.

I switched from TD Ameritrade Asia ( which is ThinkOrSwim ) to Interactive Brokers, it's alot cheaper on IB.
 

iammole

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7JQhL75.png


does this means that IB is starting to charge interest on EUR/CHR/SEK/USD for amt over 100k?
 

1nd3x1nv3stor

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Is it the right time to move from trading USD denominated products from SCB to IB when we have more than USD100k OR the monthly commission for trading them is at least USD10?

Assuming for SC: Brokerage fee is 0.2% and the exchange rate loss is 1%, then the breakeven will be:
($10 x 12) / 1.2% = $10,000

If your trading value is 10k or more per year, then use IB.
 

Hereforgd

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Hi Folks. Really appreciate all the help provided here.

I have a quick query on withdrawal.

I have a DBS bank account and the name is "Last name" "First Name" "Middle name".

Now DBS rejects incoming transfers in case the name does not match. I checked with IB and they populate the name as "First name" "Middle name" "Last name".

Anyone faced this issue before? If yes, any resolution ?
 

drumma

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hi seniors, I have a question on margin. I'm looking to trade with a 10k usd account, and hence the only option will be reg T. The Reg T is 2.5x leverage if I'm not wrong? Does the same apply to CFDs too? Would appreciate your valuable input.

Thanks!
 

iammole

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Hi Folks. Really appreciate all the help provided here.

I have a quick query on withdrawal.

I have a DBS bank account and the name is "Last name" "First Name" "Middle name".

Now DBS rejects incoming transfers in case the name does not match. I checked with IB and they populate the name as "First name" "Middle name" "Last name".

Anyone faced this issue before? If yes, any resolution ?

how abt opening a new bank acct with the proper name? But new acct gotta stay open for 6mths otherwise got penalty. Or goto bank with proper identifications to change the name at the bank side.
 

Shiny Things

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hi seniors, I have a question on margin. I'm looking to trade with a 10k usd account, and hence the only option will be reg T. The Reg T is 2.5x leverage if I'm not wrong? Does the same apply to CFDs too? Would appreciate your valuable input.

Thanks!

1) I think Reg T is 2x leverage, not 2.5, but basically you're right.
2) I don't know about CFDs unfortunately - I can't trade them from here. So you might have to suck it and see.
 

wuga98

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Hi Shiny;

the setting in account mgmt. for changing to sgd is call the 'base currency' is this correct?.

Am starting to do my setup after etrade. Thanks.


Gday mate,

I'll give you a big tip that'll save you a ton of money - you can fund your IB account using SGD, not USD.

In Account Management, select to transfer in SGD, not USD, and it'll give you the option to send a FAST transfer to their account at Citibank Singapore - so you can send SGD instead of USD, and you don't have to pay DBS's extortionate wire transfer fees or their marked-up exchange rate.

Once the SGD is in your account - you'll want to send $14k just to give yourself some headroom above the $10k minimum - you can convert it to USD within IBKR, and the rate will be a lot better than what DBS would give you.
 

MikeDirnt78

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hi seniors, I have a question on margin. I'm looking to trade with a 10k usd account, and hence the only option will be reg T. The Reg T is 2.5x leverage if I'm not wrong? Does the same apply to CFDs too? Would appreciate your valuable input.

Thanks!

CFDs for stocks is 10x. You are taxed at 15% for dividends withholding tax instead of the usual 30%.
 

MikeDirnt78

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Hi Folks. Really appreciate all the help provided here.

I have a quick query on withdrawal.

I have a DBS bank account and the name is "Last name" "First Name" "Middle name".

Now DBS rejects incoming transfers in case the name does not match. I checked with IB and they populate the name as "First name" "Middle name" "Last name".

Anyone faced this issue before? If yes, any resolution ?

is DBS your only bank? Why not try to deposit into another bank?

i have no issue depositing into OCBC.
 

Shiny Things

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Hi Shiny;

the setting in account mgmt. for changing to sgd is call the 'base currency' is this correct?.

Am starting to do my setup after etrade. Thanks.

Yep, but considering the post you linked to - you can fund your account in any currency, not just your base currency.
 
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