Interactive Brokers - SGD now available for funding - Part 2

moolala

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I think you are conflating two things.

If you commit a crime, you commit a crime.

Whether people know or not, is 2 different things.

You may say that they are linked, and you are suggesting that they are not 100% efficient.

What if you are so lucky and they somehow choose to audit you/your estate, what might not be known, might become known now. Will you be able to say you have never committed a crime?

I am not sure.

You see, at the end of the day, your opinion and what other people opinion is doesn't matter.

It isn't necessary to "win the debate" on whose opinion is right or wrong. What matters is what action do you want to take based on your opinion and what other people opinion is?

You just need to know that you will be the one taking the consequences, not others.
am i trying to win anything?

here's something for u to know from now on: You are ignoring content by this member.

welcome u to do the same
 

BBCWatcher

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I think you are conflating two things.
If you commit a crime, you commit a crime....
I would just add that dead people don't commit crimes; survivors do. My view is that you shouldn't be a crook, but, whether you're a crook or not, expecting someone else (the executor of your estate) to commit a felony after you're gone is an incredibly s***ty estate plan!
 

blasterlord2

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I'm very much on the fence about this point, and therefore I suggest you operate with the assumption that this cash is U.S. estate taxable pending reliable evidence otherwise. Someone told me on a phone call is not reliable evidence, not even close.
I agree with this. There has been more than one occasion when somebody here told me confidently of something only for me to find out later that it's total rubbish. Need to see the official documents.
 

RedsYWNA

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Think people are confusing 'foreign branch' of a US company and 'foreign company' owned by a US parent. Certainly not an interchange term. Just Google for US tax liabilities of a branch vs a foreign company.
 

reddevil0728

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Think people are confusing 'foreign branch' of a US company and 'foreign company' owned by a US parent. Certainly not an interchange term. Just Google for US tax liabilities of a branch vs a foreign company.
Can share which specific google result? Cause not everything on the internet is true also
 

Th@nhBB

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Hello,
Has anyone tried the mutual fund/etf replicator function in IB before? I tried searching but couldn’t figure out where the Mosaic or Classic TWS.

Searching App store and YouTube but still failed.... could anyone give me pointers please


“Use the Mutual Fund/ETF Replicator

1. Open the Mutual Fund/ETF Replicator.

  • From Mosaic - From the New Window drop down select Mutual Fund/ETF Replicator.
  • From Classic TWS - From the Analytical Tools menu select Mutual Fund/ETF Replicator.
2. Enter the fund or ETF symbol, or click Browse Mutual Funds to search by fund family.

3. Modify the investment amount, if desired.”

Thank you!
 

newjersey

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I have a question on Interactive Brokers' SmartRouting.

if you are an options trader, who is a price-taker / market-taker, which Smart Option Routing Algorithms would you optimally choose?
  • SMART Multipurpose (SMART) - This is the basic smart-routing algorithm. Routes your non-marketable order to the default exchange for the instrument .
  • SMART Maximize Rebate (SMART MaxRebate) - Routes the order to the exchange offering the highest rebate.
  • SMART Prefer Rebate (SMART PreferRebate) - Routes the order with the bias toward getting a rebate vs. getting the order filled.
  • SMART Prefer Fill (SMART PreferFill) - Routes the order with the bias toward getting a fill vs. getting a rebate.
  • SMART Maximize Fill (SMART MaxFill) - Routes the order with the sole objective of getting a fill.
 

moolala

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I have a question on Interactive Brokers' SmartRouting.

if you are an options trader, who is a price-taker / market-taker, which Smart Option Routing Algorithms would you optimally choose?
  • SMART Multipurpose (SMART) - This is the basic smart-routing algorithm. Routes your non-marketable order to the default exchange for the instrument .
  • SMART Maximize Rebate (SMART MaxRebate) - Routes the order to the exchange offering the highest rebate.
  • SMART Prefer Rebate (SMART PreferRebate) - Routes the order with the bias toward getting a rebate vs. getting the order filled.
  • SMART Prefer Fill (SMART PreferFill) - Routes the order with the bias toward getting a fill vs. getting a rebate.
  • SMART Maximize Fill (SMART MaxFill) - Routes the order with the sole objective of getting a fill.
none, they don't work after a few fills. As ST said, shouldn't getting ur fills be more important than the commissions?
 
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newjersey

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hi Moolala,

ok, objectively, u are right... getting the fills filled r more important.

I am just trying to see if I can get the best of both worlds as my options commissions gotten excessive at 4 digits.

that's the reason why I am seeking a cheaper commission from my option trading activities.

is there anyone who has such a high fee for their options trading fees?

pls share how did u reduce it?

thanks in advance!
 

zuppeur

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I am deciding to go with scb or ibkr.

Using scb livefx
Bid 1. 33919
Offer 1.35008
I noticed the bid/offer spread for usd/sgd for scb is quite wide ~ 0.8%.

1) anyone know what is the spread for ibkr?

2) For ibkr, would I be able to convert my proceed from usd to sgd and withdraw to my banks?
 

highsulphur

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I am deciding to go with scb or ibkr.

Using scb livefx
Bid 1. 33919
Offer 1.35008
I noticed the bid/offer spread for usd/sgd for scb is quite wide ~ 0.8%.

1) anyone know what is the spread for ibkr?

2) For ibkr, would I be able to convert my proceed from usd to sgd and withdraw to my banks?
1) 0.5 to 1 pip

Eg 1.34445/1.34450

2) yes
 

reddevil0728

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I am deciding to go with scb or ibkr.

Using scb livefx
Bid 1. 33919
Offer 1.35008
I noticed the bid/offer spread for usd/sgd for scb is quite wide ~ 0.8%.

1) anyone know what is the spread for ibkr?

2) For ibkr, would I be able to convert my proceed from usd to sgd and withdraw to my banks?
Snapshot

1.34449 - 1.34452

+ 2 per conversion below a certain amount.

sure why not. U want to withdraw in usd also can
 

RedsYWNA

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hi Moolala,

ok, objectively, u are right... getting the fills filled r more important.

I am just trying to see if I can get the best of both worlds as my options commissions gotten excessive at 4 digits.

that's the reason why I am seeking a cheaper commission from my option trading activities.

is there anyone who has such a high fee for their options trading fees?

pls share how did u reduce it?

thanks in advance!
Wow options commissions at 4 digits? Is that per month? What options are you playing?
 

newjersey

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hi RedsYWNA,

nope.

my options commission is at 4 digits... per trade.

that's why I am looking for a cheaper solution.
 

highsulphur

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How is it there daily pnl for my lse counters like iwda when lse is closed today?
 

Xanthyon

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Guys I've just opened IBKR account after using SCB for a few years. A few questions since IBKR looks damn complicated:

1. Why is there a limit on the number of shares per trade and value in SGD?
2. What happens if I override the limit? Will there be extra charges etc?
3. I plan to use cash and not margin, how do I disable margin?
 
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