Interactive Brokers - SGD now available for funding

[ImRiHyun]

I've learnt something new today. Thank you Shiny Things & BBCWatcher for your input!

 

[Cylim123]

Hi guys,

Please forgive my very noob questions.

1. I have an account with SCB trading US stocks. Do I need to fill in the W Ben form again since I have done so when I open the SCB account?

2. How long does it take to open IB trading account? I have prepared USD10000 in my bank for the IB account.

Thanks

 

[BBCWatcher]

1. I have an account with SCB trading US stocks. Do I need to fill in the W Ben form again since I have done so when I open the SCB account?

Form W-8BEN I think you mean. That’s the IRS tax status declaration form for non-U.S. persons.

Whenever your broker or custodian asks, yes, file it.

2. How long does it take to open IB trading account? I have prepared USD10000 in my bank for the IB account.

Usually a couple days, sometimes longer if there’s something they need to investigate further. There’s no minimum account opening funding requirement any more, so whenever you get around to making a deposit is fine within reason.

 

[Cylim123]

Thanks BBCWatcher

 

[unbiased]

Hello, can i just ask do they charge commision on exchange rate on IB? If im funding an account, should I do by changing sgd there or changing it using DBS first? Thanks

 

[crystalnox]

Hello, can i just ask do they charge commision on exchange rate on IB? If im funding an account, should I do by changing sgd there or changing it using DBS first? Thanks

They charge 0.0001*$ exchanged or a U$2 minimum. Change it using IB, rate should be better than DBS and its less of a hassle to transfer SGD into IB.

 

[Calpha K]

So I went ahead to create a trial account. Wanted to start off a clean slate, so I proceeded to sell off the pre-set holdings.

But when I tried to sell any of them, I get this message

"Your order is not accepted because your Equity with Loan Value of [0.00 USD] is insufficient to cover the Initial Margin requirement of [2000.00USD]"



Ok, since I wasnt able to sell anything. I tried to buy some IWDA, but then I get this message.

"Your order is not accepted because your Equity with Loan Value of [-1.00 USD] is insufficient to cover the Initial Margin requirement of [560.00 USD]"


So I can neither sell nor buy, what am I to make of this trial? How can I work around this, anyone?

 

[wisely98]

I have the exact question. I'm due to receive dividends from the VWRD shares I own, but till now I haven't received it for Mar payout? Has anyone who got VWRD shares receive their dividends?

How do we track the dividends that are paid out on the stocks we hold? Does the dividends get credited directly to my IB cash account?

 

[unbiased]

They charge 0.0001*$ exchanged or a U$2 minimum. Change it using IB, rate should be better than DBS and its less of a hassle to transfer SGD into IB.

Thanks for the note.

 

[kehyi4]

I have the exact question. I'm due to receive dividends from the VWRD shares I own, but till now I haven't received it for Mar payout? Has anyone who got VWRD shares receive their dividends?

Maybe it's because it hasn't been paid yet?

VWRD Distribution
Announcement: 21 Mar
Ex Date: 28 Mar
Pay Date: 10 Apr

 

[wisely98]

Oh, I'm too anxious. Thank u.

Maybe it's because it hasn't been paid yet?

VWRD Distribution
Announcement: 21 Mar
Ex Date: 28 Mar
Pay Date: 10 Apr

 

[sufersbabe]

In IB Account Management under User setting, anyone ever configure SMS address to enable IB send u trade confirmation amongst other information via SMS, in addition to email notification?

Assuming mobile number is 9123-4567 with Singtel, how do u input your SMS address?

Hey there experts, was there an answer to this qns?

 

[sufersbabe]

Also, does anyone know how long the messages in the IBKR Message Center remain for?

Logged into my Account Management today and found all my previous queries and IB's replies deleted

 

[Acidblaze]

Hi there,

I have a curious question, I’ve filled up the application for and made a transfer of $10 to test is the transfer is successfully before I transfer the $10k. May I know how long it take for the account to be approve from trading? I’ve applied on thurs. but still no news from them. May I know how long you guys took to open the account?

 

[peipei1]

Approve very fast, no worries, brokering business is very competitive, Ibkr wants your business, so much so i have hesitation about their proper compliance and controls! Relying on Sipc protection only.

 

[sdecww]

What is the differences of using mobile & desktop TWS?
I need to use both but it seems that using the forex exchange function are different and I may not see what are the amounts of currencies when switching between the two to buy stocks.

Can anyone verify this info? Any suggestion how do I resolve this?

 

[Assault]

Hi all, I'm new to IB and would appreciate some help:

I'm moving over from Saxo (which just recently drastically increased their commissions). For my Saxo account I would withdraw my USD holdings directly to my OCBC USD account.

~Figured it out! Great info in this thread!~

 

[Acidblaze]

Hi Guy, my account is open. Did a fast transfer already, via dbs to their Citibank. Got a few questions to ask, how long it that for the money to get to my account?

It’s a sgd account so to buy us stocks, they will auto convert for me or do I have to set up something because I can’t find the convert currency feature. Sorry, not very familiar with the app. Thx in advance for the help

 

[Thoreldan]

Hi Guy, my account is open. Did a fast transfer already, via dbs to their Citibank. Got a few questions to ask, how long it that for the money to get to my account?

It’s a sgd account so to buy us stocks, they will auto convert for me or do I have to set up something because I can’t find the convert currency feature. Sorry, not very familiar with the app. Thx in advance for the help

1. I usually see my funds in within an hour or so.

2. You buy usd with sgd, then buy usd quoted stock with your usd.

 

[Acidblaze]

Is there something I have to enable? Because I can’t buy usd.