Interactive Brokers - SGD now available for funding - Part 2

[reddevil0728]

Ah ok! I went to look at “Singapore” instead of UK.
And right I do not have 100k to convert to USD, just a few K from monthly saving to DCA.
Thanks for pointing out!

yea then the commission for FX is just academic

 

[highsulphur]

hi, i have set up a lite account in IB and am looking to DCA into VWRA monthly.

May I know what is the most cost efficient amount per trade? I saw on IB website that the fee is 0.08% subject to a min of USD 2. That means I should trade min USD2500 for cost efficiency? Not sure if I missed interpreted anything wrongly.

Separately, I need to convert sgd to usd to buy VWRA. The currency conversion fee I saw on their website was 0.002% subject to a minimum of USD 2. I don’t think I have 100k to change every dca so USD 2 it is.

So, to buy USD2500 VWRA monthly, my cost is USD 2 + 2 + 9% gst = about 5.60 SGD? Not sure if I missed out any other fee or charges.

Is there any advantage of lite over pro for what you are looking to do?

 

[yslvlys]

I think IBKR Lite better for pple with large amounts of USD? So they won't incur any commission or higher forex rates. But their orders may be routed to other firms due to payment for order flow? But if it's a limit order I guess shd not matter.

 

[reddevil0728]

I think IBKR Lite better for pple with large amounts of USD? So they won't incur any commission or higher forex rates. But their orders may be routed to other firms due to payment for order flow? But if it's a limit order I guess shd not matter.

Depends on market

fx rates actually a little worse if I remember correctly

 

[iduncheckmail]

I think IBKR Lite better for pple with large amounts of USD? So they won't incur any commission or higher forex rates. But their orders may be routed to other firms due to payment for order flow? But if it's a limit order I guess shd not matter.

I rem the fx spread is slightly worse, the int% on idle funds is slightly worse.
you won’t want to keep large amt of USD in lite. The lost int will be more than gains in comms

 

[yslvlys]

I rem the fx spread is slightly worse, the int% on idle funds is slightly worse.
you won’t want to keep large amt of USD in lite. The lost int will be more than gains in comms

Forgot to add, I mean better for those those already have existing large amounts of USD in their bank account and only interested is USD stocks or market. So lousy forex rates doesn't matter as these pple are not changing USD. No need to keep USD in IBKR. Just transfer in USD from their own USD bank account via eGiro or funds transfer when need to trade?

 

[highsulphur]

I was under the impression that ibkr lite is good mostly for those trading us markets actively

For lse stocks, it makes no difference

 

[reddevil0728]

I was under the impression that ibkr lite is good mostly for those trading us markets actively

For lse stocks, it makes no difference

I guess it’s about having the options to trade us also?

 

[tehhalia]

Is there any advantage of lite over pro for what you are looking to do?

I am not entirely sure sure, at the sign up page the brief description given was that pro accounts are for sophisticated pro traders while light account are for retail traders. And then I looked at the published commission and didn’t see any difference for what I intend to do (just a few k of monthly DCA into VWRA). So I just went with lite haha.

I bought a lump sum VWRA at Stanchart a few years ago and left it there. I stopped DCAing coz interest rates were rising and I couldn’t resist the temptation of SSBs lol. But with interest rates falling and reading Joshua Giersh book again, I decided to jump start again.

anyway, digressed. Stanchart fee higher. So I decided to try IB.

 

[tehhalia]

when I open IBKR account I transferred and funded $100 to IN as part of the verification process.

it is recorded in my IB transaction history, which says
“Your SGD 100.00 deposit is available for trading as of 2025-09-14.”

But all my balances and funds as of today 16 sep are reflected as 0. I don’t see the $100. I tried to test buy or convert currency but no SGD detected, which is weird.

any similar encounter?

 

[Jirachi]

Understand the risk of FX, especially there is timing to face FED cut rate. Tks pal.

Depends on your time horizon. USD.SGD will stabilise over time.

 

[Jirachi]

when I open IBKR account I transferred and funded $100 to IN as part of the verification process.

it is recorded in my IB transaction history, which says
“Your SGD 100.00 deposit is available for trading as of 2025-09-14.”

But all my balances and funds as of today 16 sep are reflected as 0. I don’t see the $100. I tried to test buy or convert currency but no SGD detected, which is weird.

any similar encounter?

Cannot remember the verification process right at the start when opening account. Not sure what is happening here. You might want to check with customer support?

 

[reddevil0728]

I am not entirely sure sure, at the sign up page the brief description given was that pro accounts are for sophisticated pro traders while light account are for retail traders. And then I looked at the published commission and didn’t see any difference for what I intend to do (just a few k of monthly DCA into VWRA). So I just went with lite haha.

I bought a lump sum VWRA at Stanchart a few years ago and left it there. I stopped DCAing coz interest rates were rising and I couldn’t resist the temptation of SSBs lol. But with interest rates falling and reading Joshua Giersh book again, I decided to jump start again.

anyway, digressed. Stanchart fee higher. So I decided to try IB.

https://www.interactivebrokers.com/en/general/compare-lite-pro.php

when I open IBKR account I transferred and funded $100 to IN as part of the verification process.

it is recorded in my IB transaction history, which says
“Your SGD 100.00 deposit is available for trading as of 2025-09-14.”

But all my balances and funds as of today 16 sep are reflected as 0. I don’t see the $100. I tried to test buy or convert currency but no SGD detected, which is weird.

any similar encounter?

strange. suggest contact cs if still not showing after a few days. cause usually should only have such issue if got some Public holiday in between

 

[tehhalia]

Cannot remember the verification process right at the start when opening account. Not sure what is happening here. You might want to check with customer support?

https://www.interactivebrokers.com/en/general/compare-lite-pro.php

strange. suggest contact cs if still not showing after a few days. cause usually should only have such issue if got some Public holiday in between

alright~ will contact them if still doesn't appear. hopefully can resolve quickly so i can transfer the rest of my fund in for purchase

 

[tehhalia]

Update, I am able to see my $100 already. And I test transfer a few k and it was credited and become available within 30mins. I guess it’s just a new account thing. Thanks.

 

[sgstab]

Update, I am able to see my $100 already. And I test transfer a few k and it was credited and become available within 30mins. I guess it’s just a new account thing. Thanks.

how many days to make account live? I had done KYC 15th night 9pm, until now still havent received any update from ibkr.
BTW, KYC last page, singapore not availble to choose tax treaty with USA, do we need to fill-in W-8BEN form after KYC?
or automatically tax dividend 15% for UCITS ETFs?

I am not entirely sure sure, at the sign up page the brief description given was that pro accounts are for sophisticated pro traders while light account are for retail traders. And then I looked at the published commission and didn’t see any difference for what I intend to do (just a few k of monthly DCA into VWRA). So I just went with lite haha.

I bought a lump sum VWRA at Stanchart a few years ago and left it there. I stopped DCAing coz interest rates were rising and I couldn’t resist the temptation of SSBs lol. But with interest rates falling and reading Joshua Giersh book again, I decided to jump start again.

anyway, digressed. Stanchart fee higher. So I decided to try IB.

Heard that trading within SC mobile is very convenient, but not friendly for DCA LSE or US stocks etf, every transaction will be charged 10USD as minimum, is this true?

 

[jinsatkilife]

Does anyone know if u already have ibkr pro acc with ib sg and ibkr llc, can you open a ibkr lite acc?

 

[reddevil0728]

Does anyone know if u already have ibkr pro acc with ib sg and ibkr llc, can you open a ibkr lite acc?

You want to open a 3rd account rather than changing ur pro sg account to lite?

 

[jinsatkilife]

You want to open a 3rd account rather than changing ur pro sg account to lite?

that is the question

why pay GST on top of commissions

keeping pro because trading demands better execution but otherwise i need lite for long term port

 

[reddevil0728]

that is the question

why pay GST on top of commissions

keeping pro because trading demands better execution but otherwise i need lite for long term port

Can you test it out and let us know? Unless you have some concern about testing it out?