Interactive Brokers (IB)

[BBCWatcher]

How do I automate the investment of funds from DBS Multiplier >>> IB

This part is easy. Just set up monthly standing orders on both ends. On the IB end you use online account management to notify IB that you'll have a recurring monthly deposit. On the DBS side you schedule a monthly FAST or GIRO transfer.

>>> IWDA+VRWD and declare re-investment of dividends into fund for BOTH (understand that VWRD doesn't have this. is it possible to opt in)?

First of all, IWDA and VWRD are redundant since they're so similar compositionally. There's no need to buy both. Since IWDA automatically reinvests dividends, choose that.

Second, it's possible (albeit "geeky") to use IB's authorized APIs to automate monthly IWDA purchases. It's probably more trouble than it's worth, though, since all you have to do is to log in once per month to buy IWDA. You can do that from a tablet or smartphone, and it takes all of 5 minutes, if that. Just set a monthly reminder to yourself (on your smartphone for example) about one trading day after the monthly deposit, and that'll be fine. Yes, that's manual, but it's not much effort.

 

[blue_denim24]

The only pain point is SGD to USD conversion for which one has to use desktop TWS. It's not mandatory though, but that's a recommendation from various threads here.

It's probably more trouble than it's worth, though, since all you have to do is to log in once per month to buy IWDA. You can do that from a tablet or smartphone, and it takes all of 5 minutes, if that. Just set a monthly reminder to yourself (on your smartphone for example) about one trading day after the monthly deposit, and that'll be fine. Yes, that's manual, but it's not much effort.

 

[BBCWatcher]

The only pain point is SGD to USD conversion for which one has to use desktop TWS. It's not mandatory though....

Not at all. All user interfaces work.

You may or may not have an additional forex line in your statements depending on which user interface you use. If it appears, and if you’re not a currency trader — you’re just converting currency for your monthly buys — ignore it. That’s it, that’s the whole “drama.” You get exactly the same forex rates and results no matter what interface you use, but your statement might or might not have one extra line. Which you can remove if it bothers you.

 

[chopra]

can provide a step by step guide for converting currency using mobile app? im using desktop so far

 

[wuga98]

i just changed some usd to sgd, what is the time of settlement? T+3?
Thanks

 

[Shiny Things]

i just changed some usd to sgd, what is the time of settlement? T+3?
Thanks

T+2. It's effectively immediate if you have a margin account, though.

 

[wuga98]

T+2. It's effectively immediate if you have a margin account, though.

thanks, i dont hv a margin account.

does IB able to send me mthly file statements on email? i do not loggin often. thanks

 

[Shiny Things]

does IB able to send me mthly file statements on email? i do not loggin often. thanks

You can set this up in Account Management, under Reports / Statements / Statements Delivery / Notification Defaults, though I've noticed that it won't send a statement if you don't have any trades that day/month.

 

[beefjerky]

i just changed some usd to sgd, what is the time of settlement? T+3?
Thanks

what do u mean time of settlement? when i purchase usd with sgd, it appears immediately and i can use it immediately as well

 

[Mecisteus]

what do u mean time of settlement? when i purchase usd with sgd, it appears immediately and i can use it immediately as well

Yours is probably a margin account.

 

[Gughie]

What does "Margin cushion: 0.72% remaining" mean?

I converted SGD to USD on the mobile app and bought IWDA thereafter. This was my first time converting & buying on the app as I usually do it on the desktop. After this, I keep seeing this alert message being sent to me : ''Margin cushion: 0.72% remaining''. Anyone knows what this means? And how to get rid of it?

 

[aoptionwriter]

I recently changed my account from 'cash' to 'margin'.

Have searching for a while but still don't know how to check the charges on the statement.

Which line on the statement will reflect the charges incurred due to margin used?

 

[Mecisteus]

I recently changed my account from 'cash' to 'margin'.

Have searching for a while but still don't know how to check the charges on the statement.

Which line on the statement will reflect the charges incurred due to margin used?

Short answer is to look at your Account -> Balances -> MTD Interest.

This number will show more negative if you have a loan. This number will be more positive if you have shares lent out.

Long answer is to look at your statement.

 

[happychai]

Does any one have difficulty to receive the security code?