Anyone use TD Ameritrade?

[adderrs]

I only know there is a USD25 for withdrawals. Also take note PDT rule applies as TDA is based in the US.

Thank you!

 

[blurpandasg2014]

Note that td ameritrade imposes a mandatory 38$ reorganisation fee for stock splits

 

[fire001]

Margin. Always look at Cash and Sweep Vehicle if you do not want do draw on margin.



500 USD, but to trade you need 2000 USD



I am using TOS app and it works fine. TD Ameritrade mobile app does not work for SG users for some reason. Check with CSO if you have already deposited over 500 USD of funds and still cannot receive market data.

anyone can tell me how to convert the SGD into USD?
if i transfer money to DBS TD account, the money is in SGD, so how to convert the SGD into USD to buy shares?

Thanks a lot!

 

[calhanzel]

anyone can tell me how to convert the SGD into USD?
if i transfer money to DBS TD account, the money is in SGD, so how to convert the SGD into USD to buy shares?

Thanks a lot!

After transferring to TD DBS account, the conversion from SGD to USD is auto-performed. You'll see USD in your TDA account, not SGD.

 

[WackoPants]

Does TDA still have a referral promo? If so, kindly PM me your referral code, thanks.

 

[zekrom007]

Does TDA still have a referral promo? If so, kindly PM me your referral code, thanks.

I dont think there is such a program for the Singapore version.

 

[tang63]

1. What is the forex spread like for converting SGD to USD?
2. Do you get to see live prices for LSE and US stocks? (saw the other poster say that min need USD 500 in the account)

 

[mad276]

Does TDA SG offer DRIP (Dividend Reinvestment)? Tried to email them, but no reply so far

 

[Aresden]

After transferring to TD DBS account, the conversion from SGD to USD is auto-performed. You'll see USD in your TDA account, not SGD.

If i transfer USD from DBS Multiplier account to TD DBS account, will there be any fees incurred?

 

[zekrom007]

1. What is the forex spread like for converting SGD to USD?
2. Do you get to see live prices for LSE and US stocks? (saw the other poster say that min need USD 500 in the account)

1. You can text them to enquire as the exchange rate is not publicly disclosed. But based on experience, their rates are generally better than DBS. i.e. it would be better if you xfer SGD to them, and let them convert to USD for you instead of converting to USD using DBS rates yourself then xfering USD to them to fund your account. The caveat is that the former process takes a longer time and would not be ideal if you kena margin call

2. Any example of an LSE stock I can help you check? But yes after you have minimum 500USD, it should be automatically updated to real time prices. Otherwise, just call their IT support at night (the US branch) and they will activate the live prices for you.

 

[~sabaisabai~]

heard that their CS is super lousy...
still the same?

 

[Aresden]

heard that their CS is super lousy...
still the same?

Yes, it is bad in general.

Called their customer hotline; the waiting time was ~1 hour as mentioned by their call-bot so I hung up.

Their whatsapp; messaged around 2pm, received a response at 7pm+ even though they closes at 5.30pm.
I guess they used their after-office hours to respond to the backlogs.

 

[Nescafe321]

what is the US option exercise or assignment fees? is it 0?

 

[IcYFl4mEz]

is this good to use for newbies in trading?
or is momo easier(i know momo got USD1 charges for every transaction, thats all right?)

 

[blackie83]

Do i need to convert sgd to usd before i submit a trade?
i can't find the selection.

How to find out if the account is margin or cash? there is no selection?

Thank you

 

[Aresden]

is this good to use for newbies in trading?
or is momo easier(i know momo got USD1 charges for every transaction, thats all right?)

I think it is fine for newbies, the only issue so far with TD Ameritrade is the long wait for the account opening.
Mine took 2-3 weeks.

Do i need to convert sgd to usd before i submit a trade?
i can't find the selection.

How to find out if the account is margin or cash? there is no selection?

Thank you

Based on my experience it automatically converts SGD to USD(assuming u transferred SGD into your TDA account)

I think how TDA works is; It will be called margin account, but if you have funds inside your brokerage account then it will use the cash instead.
So I guess the best way is to ensure that you have funds that is successfully deposited into your account before u start trading, to avoid the margin interest

 

[ingen]

Has anyone tried funding using SCB Remit? There is only 1 row for the remarks column instead of 3 rows that DBS provides. Just worried that the funds wouldn't be marked properly.

Generally find that SCB remit USD rates are better than DBS, hence using this route.

 

[~sabaisabai~]

Surprisingly it took me 2 weeks to get my account opened. pretty fast !!

When called their hotline waiting time about 45min. they pre alert the waiting time before the CS took the call.

my overall experience with them was good.

 

[livingston]

Hi, need some help,

The TD have declare income to me in singapore and lead to IRAS charges me tax,
i check with IRAS, iras say they just follow what TD declare.
i write email to TD, TD keep reply as below,

Generally, TD Ameritrade will withhold an applicable percentage of dividend and interest income from U.S. securities at the time of payment and reported on Form 1042-S, so no additional tax is due after the year ends. The statutory withholding rate is 30% unless you have claimed an active treaty for your account, in which case it may be lower. Treaty claims are made through the IRS Form W-8BEN. For more information on tax treaties for international investors, please visit the IRS web site for Tax Treaty Tables. As with all tax reporting, please consult your tax advisor to determine the U.S. tax consequences of investing in the U.S.

do anyone experience this? i never received any income from TD in singapore bank.......
so the witholding tax or etc will lead to income in singapore?
anyone can share what is this?

 

[bigrooster]

Surprisingly it took me 2 weeks to get my account opened. pretty fast !!

When called their hotline waiting time about 45min. they pre alert the waiting time before the CS took the call.

my overall experience with them was good.

Lucky you.

My account opening took 3 months. Hotline waiting time was 4 hours. Email reply took a few days with useless template answers.

Letting my opened account sit idle. Not going to use them for now. My experience with TDA SG is lousy.